Thai jewelry trade eyes in the Indian market with a new range
Thailand, the world’s third-largest exporter of silver jewelry and colour stones, following the U.S. and Hong Kong, has announced to organise the Bangkok Gems & Jewelry Fair (BGJF), to be conducted time virtually during June 22-24, 2021, with a view to targeting to bagging large orders from the Indian market.
The same is the case with jewelry, makeup et cetera.
Work from home has changed the jewelry preferences of people. Women want their jewelry donned on the upper part of the body so that it is visible to other people. They prefer chokers pendants watches rings hair accessories earrings piercings in short everything that is made for the upper body. Trade promotion executives from Thailand said that they are planning a new range of jewelry so that they can amend to these altering preferences.
Thailand is not only famous for its pristine geography but is well-known for its gemstones and silver. Thailand is the world‘s third-largest exporter of silver jewelry and coloured stones followed by the US and Hong Kong. The Thai government has organised Bangkok gems and jewelry fair, which will be conducted virtually from 22nd to 24 June 2021. The fair has its eyes all set on the Indian market and hopes to bag a large order.
Because of massive economic loss in lockdown expenses on luxury items reduced significantly. But reports show that the economy is slowly coming back on track. Thai officials endorse the same. They said the appetite for jewelry which was suppressed because of Covid 19 has now gradually started to heighten. Work from home has forced people to wear jewelry that highlights their upper body which is visible in zoom calls or MS teams.
Officials from Thailand’s Department of international trade promotion said that in 2021 consumers are trying out a bolder, eye-catching statement jewelry with creative designs in all shapes and sizes. People are going for bold and colourful designs because it is very hard to notice jewelry on a small screen of group zoom calls unless it’s very catchy. Since there is no chance of going out people desire colours other than black and white. Statement colours help you stand out in terms of dress up when it comes to working from home.
The officials said that minimalist diamonds, white gold, silver and platinum have always been the choice of mature audience like people belonging to the 35 to 45 age group. Younger generation like Millennials and gen Z are going for bold, funky, neon and colourful designs which create bling. Since everyone misses going out a lot green which represents nature is becoming the new favourite.
Thailand imports $300 million worth of gems and jewelry from India and exports almost double of it to India. India has always been Thailand’s preferred export market for jewelry. Thailand is known for its silver, sapphires and rubies. It is also known for its Thai-coloured gemstone. Stone Cutting is an exceptionally mature industry in Thailand. It is famous because of its fine craftsmanship, cheap prices and amazing quality. Thai rubies were not well-known as Pigeon’s blood rubies from Burma. But after the 1960s experts found a solution to this problem and enriched the colour of rubies. These rubies were so successful that after the 1980s Thailand’s ruby mines were completely exhausted.
Thai silver is very famous and handcrafted by the native hill tribe people of northern Thailand. Traditional knowledge incorporated with excellent craftsmanship skills is the secret ingredient of Thai silver’s success. It has intricate designs that makes them stand out.
Thai silver has a 925 Sterling rate meaning it is 92.5% pure silver. To obtain the ancient, old aged silver effect Thai silver features mat surface. This ancient look makes Thai silver more expensive due to highlabour cost.