Major black pearl Producer to move in on Thailand
Robert Wan, the world’s biggest black-pearl producer, plans to expand into Thailand. During a visit to Bangkok for preliminary talks with local businessmen, Wan said he would introduce black pearls to the Thai market.
Presently, he has distribution offices in San Francisco, Honolulu, and Hong Kong. Under his current plan he wants to set up a black pearl factory in Bangkok, which is to be his first factory abroad, for distribution within Southeast Asia.
He has seven black pearl farms on three French Polynesian islands, and his head office is in Papeete, Tahiti, where 90 percent of the world’s black pearls are produced.
The reasons for the move into Thailand, he said, include the Thai perception of the black pearl as exotic, slumbering sales in the Japanese market, the skill of Thai jewelry makers and searching for non-traditional markets.
IGS propose gold bank at Gemopolis
IGS Plc plans to establish a gold bullion bank in the Gemopolis estate in Bangkok, according to Vichai Assarasakorn, IGS manging director.
The company is in the process of negotiating with a major gold trading firm for a joint venture in building a gold vault as a supply center for jewelry factories on the estate. The details of the negotiation could not be disclosed but he hoped that by the end of the year the deal would be finalized and ready for public release.
A gold bullion bank would facilitate trading procedures, eliminating or reducing current restrictions and unnecessary middlemen who make the gold prices higher, he said.
The jewelry sector plays a significant role in Thailand export, and it earned 40 billion baht last year in foreign exchange, he added.
Gem traders need support for AFTA
Gem and jewelry traders say they need the government to help in preparation to adjust to the Asean Free Trade Area agreement if Thailand wants to stay competitive, reported The Nation.
The Thai jewelry sector has to carry the burden of seven percent value added tax or VAT, while competitors such as Indonesia, Malaysia, and Singapore do not have to bear such high rates, said Pornsit Sriorathaikul, chairman of advisory board of the Thai Gem and Jewelry traders Association.
Even though VAT expenses are refundable, it takes about three months for the refund which is an unnecessary burden for small firms, he said.
Jewelry is one of the items on the fast track list in the AFTA agreement, in which the tax is to be reduced to below 5 percent by 1999. Without the government support and cooperation, jewelry exports may not reach the targeted 54billion baht level this year, said Porn sit.
Cultured pearl imports hit record high
Polished cultured pearl import reached a record high of 32.56 million baht during the January to June period of 1995, after the Finance Ministry reduced the import duty from 25 percent to 1 percent in response to demand in the jewelry community.
During the same period in 1994, the total import value of polished cultured was only 6.53 million baht, while for the entire 1994 was 32.56 million baht.
Polished cultured pearl accounts for 75 percent of Thailand’s total imported pearls. Japan was the major source of pearls at 56.02 million baht for the first half of this year and Australia was second with 4.4 million baht.
| Debut night More than three hundred people turned out for the cocktail reception held to celebrate the grand opening of the first David Karmeli Jewelry Boutique at Gaysorn Plaza in Bangkok on November 9. Mr. Karmeli sees Thailand as one of the fastest growing economies and as a key manufacturer of international standard jewelry. He notes also that the Thai consumers have discerning tastes, thus while still manufacturing jewelry for export, Mr. Karmeli is now branching off into the local retail market. “Our product is known for its design, quality and 18K Palette Gold. The design concept is based on modern design that has the elements of simplicity but are classic and elegant in look”, said |
“The import duty fee reduction will help Thai jewelry manufacturers gain more competitiveness in the growing international market. Pearls are becoming more popular,”
Said Thanan Maleesriprasert, the manager of Thai Gem and Jewelry Traders Association.
TGJF launches industry master plan
The Thailand Gems & Jewelry Foundation has launched its master plan to improve skills and knowledge within the industry, which covers areas from business management, creative design development training, production quality improvement, to marketing.
The foundation was formed by eight trade associations. Pornsit Sriorathaikul is the chairman who was a former president and honorary chairman of the Thai Gem & Jewelry Traders Association (TGJTA).
The eight members are: the Gold Traders Association; the Diamonds, Gems, Silver and Gold Association; the Diamond traders Association; the Thai Nielloware Association (under the Royal Patronage); the Gostume Jewellery Association;the World Gold Council;the Jewel Fest Club; and the TGJTA.
The Thai Diamond Manufacturers Association (TDMA) may also be invited to join the new foundation.
The 15 million baht funding for the program was provided by TGJTA while the government provided a further 40 million baht.
Mr. Pornsit sees skill improvement as vital to help move Thailand to the higher stage on the world market. Thailand to the higher stage on the world market. Thailand is currently market share in the mid-low and low segment s to India and other emerging countries, he said.
Gem Fair terminates Reed Tradex deal
Cooperation between the Department of Export Promotion (DEP) and Reed Tradex Exhibitions Group for the coming Bangkok Gems and Jewelry Fair has been terminated for good, said Thanan Maleesriprasert, manager of the Thai Gem & Jewelry Traders Association (TGJTA).
The March 1996 fair will be organized and managed by DEP and the TGJTA, he said, and it is less likely that future fairs will be given to private firms to manage.
On the other hand, Blenheim (Tokyo) Inc., owners of Jewelers of America (JA) showed interest in managing the Bangkok Fair and this was seen by TGJTA as a possibility, but so far no definite outcome has come from the preliminary talks.
DEP will conduct a study on the finally committing to a long-term contract.
Harsh penalties stifle border gem trade
Threats by Burmese government of harsh prison terms for anyone caught smuggling gems has strongly reduced the gems trade along the Thai-Burma border, say gem traders.
Since the Burmese State Law and Order Restoration Council (Slorc) introduced 10 year prison sentences for smugglers who trade gems on the Thai border, the value of the gems trade has plummeted, said a trader in Mae Sot.
“Stone trading has dropped from an estimated one billion baht per month to merely 200-300 million baht,” the trader told Reuters.
The penalties are aimed at deterring smugglers who illicitly trade in rubies, jade and sapphires, said a Burmese trader.
The supplies of rubies and sapphires are from mines in the Shan state and jades from Kachin state.
The new laws were distributed by leaflets in the town of Tachilek, Burma on October 16 and 19th, said another trader on the Thai border.
The government has accused Thailand of helping the Muang Thai Army guerrillas, who are loyal to Khun Sa, and ordered to close the border with Thailand in April.
James Marquart named as new chief of MJSA
James F. Marquart has been appointed as president and chief executive officer of the Manufacturing Jewelers and Silversmiths of America.
Mr. Marquart possesses 30 years of experience in state and national associations, and previously was president of the New York State Hospitality & Tourism Association.
“Jimbrings to MJSA a widerange of association management experience, including expertise in financial management, strategic planning, government, relations, and organizational development,” said Alan Klitzner, MJSA chairman during Marquart’s appointment ceremony.
Meanwhile, Mr. Marquart remarked that “MJSA has a long history of leadership and innovation in the jewelry industry. I look forward to working with the board and the staff to expand our vision of MJSA’s future.” He said he will continue to keep the original association’s strategic plan and wanted to move MJSA farther ahead.
MJSA is the national trade association for jewelry manufacturers, designers, and suppliers. The association has been providing its members marketing assistance, technical knowledge, and business services since1903.
| Charae named as Chairman of IGS Former permanent secretary of Commerce Charae Chutharatkul has been chosen as the chairman of IGS Plc, the developer of the Gemopolis gem estate. Charae replaces Boonyong Assarasakorn, the newly assigned Chief Executive Officer of IGS Plc, who now is getting more involved in the daily operations of the firm. Said an IGS spokesman. The appointment of Charae coincides with the growing commercial activities at the gem city the Bangkok Diamonds&Precious tone Exchange and the gold bullion bank and his managerial skills in the public sector, and more than 30 years of experience in both local and international fields are seen as being of great value to the firm’s future administration operation, said IGS. In the past he has held the positions of deputy permanent secretary for Commerce (1974-78), director general of the Internal Trade Department (1978-80), director general of Commerce Registration Department (1980-85), director general of the Department of Export Promotion (1985-90), director general of the Foreign Trade Department (1990-93) and director general of the Department of Export Promotion (1993-94). |
| Swarigem aims at booming Asian market By Walter Pfeifer World leading crystal manufacturer Swarogem believes the next sensible step is to go into the booming Asian market, according to Walter Pfeifer, the head of Swarogem of Austria. The company held a fashion jewelry forum in Bangkok to expose and promote crystal and fashion jewelry to the Thai market, Pfeifer said, because as the country is growing more affluent the people are going to want to express their personality through dress and clothing. The objective of the forum was to encourage creativity in Thai designers and expose them to the subject’s richness in culture and history, Thailand has great potential to become creative by adding the local identity to the western designs in crystal jewelry, said Mr. Pfeifer. Swarovsky’s factory in Austria produces 50 million crystals daily in sizes ranging from 1 mm to 10 cm, 50 percent of which is sold in Asian markets, he said. |
| Thong Bai Goldsmiths open Rangsit store In response to the rise in popularity of Thai designed gold jewelry, Thong Bai Goldsmiths opened its forth branch at Future Park, Rangsit on Sunday, October 8, 1995. Target consumers are those who have become conscious of Thai traditional culture and crafts in jewelry and who prefer the unique Thai traditional gold design, Thai traditional engagement and wedding jewelry is a large part of the market Thong Bai hopes to capture, especially the younger Thai generation who are more culture conscious. |