Men's jewellery trends reveal that bling isn't just for girls anymore

It's not just amongst fashion-conscious youth, however; men's jewellery today can be seen on the basketball court or in the boardroom. Influenced by modern pop culture, the more traditional, formal looks of yesterday have been overtaken by more modern, sleeker designs using alternative metals such as titanium and stainless steel, or colours such as black, mixed with diamonds and other precious stones. Visitors to Areeq Dubai, the exclusive event which brings together the most prestigious watch and jewellery brands as part of Dubai International Jewellery Week will be able to view the latest men's collections from the Middle East and around the world. As you would expect, watches remain the most popular items in any men's jewellery line and will feature heavily at Areeq Dubai. Dunamis Time Pieces epitomises the current market trends by fusing Swiss watch-making with cutting-edge couture fashion, a revolution against traditional watch making ethics. They'll be showing bold designs using black and stainless steel which are hand-crafted using precious diamonds and gemstones. The Lex Diamond Watch, designed by Jordanian Master Jeweller Alexander Nasrawi, combines Swiss engineering with a design which allows wearers to instantly reconfigure their timepiece to suit their mood or environment. Designed on solid stainless steel or 18 carat gold, each watch is painstakingly set with flawless diamonds, but the highlight is interchangeable bezels with single, double or triple rows of white or coloured diamonds. Dubai-based Dhamani Jewels will also be showcasing its range of men's watches studded with sparkling white brilliant cut diamonds. Dhamani's men's range also includes rings, cuff links and accessories which feature diamonds set and styled in masculine designs. High on most men's lists of jewellery must-haves are cuff links and La Reina Collection, based in Los Angeles, will be showing its selection of unique white, yellow and black diamond cuff links which feature extremely rare flat diamonds at their centre. Recognising the increasing popularity of bracelets and other less traditional men's jewellery items, La Reina Collection will also be introducing its new range of diamond and titanium bracelets for the first time. These pieces are part of the new 'Evoluzione' collection which this year won an award for Best Designing from Town & Country. Jacob & Co, brought to the UAE by Bin Hendi Enterprises and exhibiting at Areeq Dubai, counts celebrities like Sean 'P.Diddy' Combs, Justin Timberlake, David Beckham and Enrique Iglesias as some of his biggest fans. With such a following, he typifies a new generation of 'cool' in men's jewellery design. His complete range of lavish and unique designs for men includes rings, cufflinks, bracelets and pendants encrusted with diamonds and coloured gems. For men, the choice of jewellery has never been as wide, as experimental or as lavish as it is toda

Pearl show at Dubai Jewellery Week

Dubai International Jewellery Week 2008 is all set to celebrate the humble pearl that gave the city its first taste of prosperity. Scheduled between November 11 and 15, at the Dubai International Convention and Exhibition Centre, the event will showcase a new range of chocolate-coloured Tahiti pearl ornaments, including bracelets, necklaces and pendants, embedded with diamonds, gems and jade. Europearls – a leading pearl company and the Chinese-based Fine Pearl Jewellery Co. Ltd. will display their products at the exhibition. Last year, Dubai saw gold and diamond jewellery sales rise by 15 and 47 per cent respectively. In fact, with transactions worth 14 per cent of the world’s total jewellery sales, Dubai is often known as the ‘The City of Gold’. But interestingly, the desert city was never built on gold. Pearling was the main source of income for people of the Arabian Gulf in 19th and early 20th centuries. However, the industry received a major blow with the Japanese invention of the cultured pearl. Pearling ceased after the Second World War, when independent India imposed heavy tax on pearls imported from the Gulf. Today however, the pearl has witnessed a resurgence, shedding its old-fashioned image and has become bolder than ever. Pearl jewellery does not merely represent the traditional white pearl necklace. In fact, its popularity stems from its versatility in colours, shapes and textures. The Dubai International Jewellery Week is all set to delight pearl lovers and win over sceptics who think pearls are only worn by grandmothers.

Diamond trade feels the heat of worldwide financial crisis

The global diamond trade is bracing for a slowdown due to the on-going worldwide credit crunch, with diamond cutting centres and merchants around the world expecting sharp declines in business even in the normally buoyant Christmas season.

People in the diamond industry say signs of a slowdown are already visible in the global diamond industry. Youri Stevenrlynck, Chief Executive Officer, Dubai Diamond Exchange (DDE), said: "During any financial turmoil investors resort to parking their money in gold as a safe haven. While gold prices have gone up substantially, the same perception does not prevail in the diamond market. Diamond sales are down in the US, the largest diamond market in the world."

According to him, diamond merchants, traders and exchanges all over the world are cautiously watching the financial turmoil.

"All eyes are on the year-end diamond sales. A large chunk of the total annual diamond sales figure is formed by the last quarter sales. The current financial crisis may cause a decline in the annual diamond sales," Stevenrlynck said, adding that even 9/11 failed to dampen diamond sales as much as the present situation is expected to do.

"After 9/11, everybody thought annual diamond sales would come down. However, diamond consumption was not affected. So far diamond sales in Dubai are not affected but if the US sales come down, the cutting centres in India will feel the impact."

It is a tense period for diamond merchants and companies, who have offices and shops in the US, Antwerp and India. During critical times and high inflation, only some big investors may buy big carat diamonds as an alternative investment. Unlike large-scale gold purchases as a safe haven, diamonds are not popular among retail investors for the same purpose. Investing in big diamonds is also limited by the liquidity factor, which is running very low at present.

ABN Amro, a leading financier of the diamond trade, was acquired by a consortium of Fortis, RBS and Santander in October 2007. In the first week of October this year, the Dutch government purchased Fortis' stake in ABN Amro, which included ABN Amro Netherlands, the International Diamond and Jewellery Group and ABN Amro Private Banking Belgium. Fortis and RBS are reportedly victims of the financial crisis. ABN Amro has been closely related to the global diamond and jewellery industry for about a century.

"The financial crisis has not affected the local banks operating in the DDE," Stevenrlynck said.

The exchange, an emerging hub for diamond trade, had recently recorded remarkable growth in the diamond business due to high oil price that created ample liquidity in the region. But diamond traders are keenly watching the oil price movements. Stevenrlynck said the assurance given by the UAE government about the safety of bank deposits will boost investor confidence in the UAE banking system.

Rajesh Rathod, Manager, Arpee Gems DMCC, exporter and importer of loose diamonds, said. "The diamond trade is in turmoil because nobody knows what will happen tomorrow. Consumers who want to buy diamonds are waiting for prices to come down because they see prices of other commodities such as gold and oil coming down. In the case of diamonds, raw material costs cannot come down and therefore there cannot be a fall in prices."

According to Rathod, many diamond firms in the UAE and India have offices in the USA where the Christmas diamond sales generate the maximum business for small polished diamonds. In an atmosphere of economic recession and growing unemployment, spending on luxury products is the first thing to be slashed by consumers.

Sajith Kumar, Vice President, JRG Commodities, said that unlike gold, which investors consider a safe haven during crises, diamonds are not actively traded commodities. "Due to differences in standardisation, diamonds are not actively traded in the UAE or other commodity markets."

In India, a major manufacturing centre of the diamond and jewellery industry, diamond workers in Surat, Ahmedabad and other cutting centres went on strike recently demanding wage hikes to compensate for high inflation, which was agreed upon by their employers. Also, share prices of jewellery and diamond companies listed on the Bombay Stock Exchange fell sharply. Indian diamond exporters who have taken dollar loans now have a tough time because of the rupee's rapid depreciation.

An industry source said: "About 50 per cent of the world's polished diamond sales is in the US market. The volume of jewellery and diamond exports from the export units in Jaipur, Rajasthan, is down by almost 50 per cent because of the global recession. The volume may come down further if the problems continue. Indian diamond cutting units, which expanded capacity in anticipation of a big growth in US market, have started cutting down expenses by retrenching excess staff."