DW JAN - FEB 2020

NatioN Notes
Istanbul Jewelry Show
Istanbul Jewelry Show is referred as the
bridge between European and Middle
East markets. The biannual show
takes place in March and October. The
October 2019 edition saw a 12 per cent
increase in the number of international
visitors. Istanbul Jewelry Show plays
an important role to Turkish Jewelry
Industry reach its 2019 export target of
USD 6 billion and March and October
Exhibitions of Istanbul Jewelry Show
broke its own record by hosting over 50
thousand jewellery buyers in 2019.
Chance collection, Boybeyi
Love for Gold
Much like India, the Turkish people love
gold. It’s second nature and plays an
important role in their cultural milieu.
In the third quarter of 2019, global
tensions led to an upward movement
in global gold prices, however, Turkey
recorded the highest purchases in gold
in this period and reached 385.5 tons
in total gold reserves. According to
WGC’s Gold Demand Trends report
for the third quarter, while worldwide
demand for gold continued to increase,
the Central Bank of the Republic of
Turkey (CBRT) came to the fore among
the world’s central banks with largest
amount of gold purchased in the third
quarter. The world gold council released
a report on World Gold Holdings, which
stated that Turkey holds 415.2 tonnes
of gold, ranking number 14, in the list
of countries that reserves gold.
Market Trends
According to Euromonitor, China
declared 2018 Turkish Tourism Year,
which boosted the number of Chinese
inbound tourists to Turkey in 2018
and into 2019. After a lackluster
performance in 2017, jewellery
recorded much improved retail value
growth figures in 2018/2019, supported
by this initiative. The report also stated
that product placement in Turkish soap
operas such as Yasak Elma and Ufak
Tefek Cinayetler is a key marketing
tool. Manufacturers such as Gülaylar
Altin, Altinbas and Assos ve Atasay
have begun to work closely with media
channels to promote their products
in the most effective way possible.
Endorsements by celebrities and
influencers remained important parts
of the marketing mix in 2018/2019,
with jewellery players using these
endorsements for limited periods to
position their brands as trendy. In
2018, the leader in jewellery, Atasay
Kuyumculuk, collaborated with a
popular social media influencer, Seyma
Subasi, launching a special line which
was supported by the celebrity.
DiamonD WorlD | january-february 2020 | 115