Challenges Linger as Las Vegas Shows Begin

RAPAPORT... The JCK Las Vegas show opened to steady traffic on Friday, as exhibitors expressed concern about declining polished prices and the growth of lab-grown diamonds. Botswana President Mokgweetsi Masisi opened the show, stressing the contribution that diamonds have made to development in the southern African country. "We are in a space to utilize our revenue from diamonds to carve out a future for ourselves that enhances what we have, that leverages on our achievements, and propels us towards a knowledge economy," he said in the keynote address hosted by JCK and De Beers on Friday. Sustainability was among the main themes discussed in the education program that preceded the show, along with synthetic diamonds. The need to boost bridal was another topic emphasized by fine-jewelry suppliers exhibiting in the Luxury pavilion that opened on Wednesday. There was a steady flow of visitor traffic on the opening days, although some noted the show floor wasn't crowded. Buyers were assessing prices and acclimating to the change of venue to the Sands Convention Center. Rapaport News will be exploring these themes in the coming days of the show, as laid out in the first of our vlog posts from the show: