A conference promoting business opportunities in the booming markets of Brazil, Russia, India, and China—collectively known as the BRIC economies—drew dozens of jewelry suppliers and manufacturers to the Pierre Hotel in New York City on Thursday July 28, following the LUXURY Privé show, which concluded its inaugural three-day run on Wednesday at the same location.
The “New Markets Orientation Conference” presented by the TJF Group in association with the Nancy Robey Partnership Inc., focused on the growing number of affluent consumers in emerging markets who are keen to show off their newly minted luxury status with purchases of fine jewelry and high-end watches.
“We very seldom find new business opportunities sitting behind our desks,” said speaker Douglas Gollan, president and editor in chief of Elite Traveler Media Group. “There are now almost as many high net worth households”—defined as those with a least $1 million in investable assets—“in Asia/Pacific as there are in North America.”
Gollan’s opening remarks were followed by presentations on: the top 10 insights into the Chinese luxury consumer (by Jessica Tu, CEO of the Luxury Marketing Council China); the burgeoning Indian luxury market (by Pooja Johari, director of strategy at Kubér Inc.); and a review of the opportunities for luxury providers in Latin America (led by Stefano Zingoni of the MASC Luxury Group).
In part 2 of the morning conference, Paolo Novembri, CEO of the TJF Group, provided a competitive overview of jewelry brands already in these markets and briefed attendees on how to develop and execute an international design and distribution strategy.
The new markets conference capped a week of jewelry buying at the Pierre, which hosted JCK’s first-ever LUXURY Privé show. The invitation-only buying event featured collections from 42 exhibitors, including three who made their U.S. trade show debut. Nearly 170 retail stores attended the show, some who came from as far away as Brazil.
“The Pierre is a great venue to conduct upscale business,” Louis Guarino Jr. of Pittsburgh’s Louis Anthony Jewelers said in a statement. “Privé provided us with a unique face-to-face opportunity to wrap up our business from Las Vegas and then concentrate on those companies that we didn’t see in Vegas.”