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First InStore Show Draws Rave Reviews

By Nancy Schuring and Tony Seideman

Moonstones from Boston Gems.

Call it the “Obama effect,” but the president’s cautious optimism about the economy drew around 400 exhibitors and 2,000 buyers to the first-ever Chicago InStore Show, April 19-21.

“Most people will be back. It's got a lot of potential,” said Barbara Lawrence, president of Boston Gems and Findings Inc. of Boston, MA. Lawrence's enthusiasm was the sign of one of the most interesting trends at the show: a strong interest in colored and exotic stones that was demonstrated by buyers and exhibitors alike.

Looking for a Reasonable Rainbow

Jewelers that we talked to attended the InStore show to find affordable staple stones as well as inexpensive newcomer gems for their stores. Diversity and differentiation are the new watch words. What better way to offer both than colored stones?

Young designer Jennifer Sydel of Chicago-based Sydel & Sydel said her customers see colored stones as a powerful way to express their individuality and creativity. The fact that price points on colored stones are significantly less than those of diamonds helps to open eyes and close sales.

Overall, attendees attributed the show's success to a number of factors:

Oregon sunstone pendant from Rogue Gems.

Location. Both coasts boast major gem shows, but in recent years there have been few Midwest events. Attendees were both pleased at the both the convenience of the locale and the respect that had been paid to their region.

Layout and organization. Time and again, attendees and exhibitors praised both the show's layout and how it was organized. InStore used the event's relatively small size to its advantage, creating a strong sense of intimacy and provided high quality amenities and catering.

Exhibitor variety and quality. Though the number of exhibitors wasn't large by Vegas standards, there were enough offerings presenting a degree of variety to make attendees feel they'd absolutely gotten their money's worth.

Mixing lectures and exhibit space worked. One of the things InStore did skillfully was to mix most lecture spaces into the show floor, and to have educational events run throughout the course of the event. Rather than draw attendees away, as some had feared, the approach kept a steady stream of buyers moving through the show floor on their way to their next sessions.

Atmosphere counts. Though Chicago's Navy Pier is a large exhibit hall, it has a lot more character than most similar spaces. The proximity to downtown and the waterfront gave it even greater appeal.

The Marvel Factor

104- and 93-carat tanzanites from Intercolor USA.

What really counted for most attendees, however, were the exhibitor booths—and people seemed pleased and impressed with what they saw. Many magnificent gems were offered in the Colored Stone Area.

How about an incredible 104 ct. deep violet blue cabochon tanzanite? That’s just one of the amazing gems InterColor USA Inc. of New York was presenting at the show. Alan Hackman of IC explained that this gem was first a larger, darker faceted gem, but to improve the stone’s color and appeal, they recut the gem into a cabochon.

“European clients love cabs, and so we were able to improve the dense color of the faceted gem to release this stunning color,” he said. Hackman called the cut a Sugar Loaf Cab, which clearly mimics the famous Rio de Janeiro Harbor Mountain. He had some other delicious gems as well. Although spinels larger than 10 carats are rare, red ones especially, Hackman showed us a superb 10.39 ct. oval cherry red stone. A magnificent unheated 5.07 ct. ruby impressed us equally.

But what about wonders in the affordable price spectrum?

180 carat citrine from Rogue Gems.

Rogue Gems, Portland Oregon, which specializes in natural-color Oregon sunstone, flashed us a 180 ct. citrine on display that was as spectacular in color as size. Boston Gems brought an impressive array of moonstones from every functioning source, including Tanzania, India, Sri Lanka and Burma. Owner Barbara Lawrence said she wanted to educate as well as delight with the collection. Some of the best stones in Boston Gems' moonstone exhibit were going for $40 to $60 a carat. So while $4,000 won't purchase an impressive diamond, it could buy her world-class 40 ct. oval blue sheen cabochon from India that ranks among the best Lawrence has ever seen.

Jewelry Splendors

Elsewhere on the show floor, exotic stones and settings had a strong appeal. With the breakout hit status of Oscar-winning film, Slumdog Millionaire, Indian (from India) jewelry was getting some significant attention at the show. Gail Brett Levine, executive director of the National Association of Jewelry Appraisers of Rego Park, NY, said her favorite booth was that of Divinity Imports, a company which she'd never encountered before, but which is coincidentally also based in Rego Park and carries jewelry made in India.

Necklace from Divinity.

Divinity's products are not for everybody. Many of the gems have lower clarity than those found in American jewelry, and the styles are distinctly Indian. One of the most striking techniques they showed is gem embellishment, where gold is basically forced into the body of the stone. “It is a technique that is new to the United States, but which has been used in India for many centuries,” says Avi Dandiya of Divinity. Every jeweler knows that standing out is a very important part of success in retailing. Dandiya said that traffic at his booth had been heavy with stores looking to do just that.

Pearls also had luster in the marketplace. In a difficult economy, products that offer strong appeal with relatively low price points often gain an edge in the marketplace. Eliko Peals specializes in freshwater gems and offers a great variety of shapes, sizes and colors. We were captivated by the enormous variety, in terms of shapes and natural colors, of their Chinese freshwater pearls.

Though it's still uncertain how long the downturn will last, InStore exhibitors felt that business is stirring out there. “Our sense is that people are looking for something new and different, and they're looking for price points that will be appealing in a very challenging economy,” said Rogue's president, Ev Tucker. If nothing else, the InStore show allowed jewelers to dream of better times with eyes opened wide in wonder.

Nancy Schuring is owner of Devon Fine Jewelry, a retailer in New Jersey in love with colored stones. She can be reached at devonfinejewelry@aol.com. Tony Seideman is a longtime trade journalist and public relations and marketing consultant and can be reached at tony@tonyseideman.com.

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