Exhibition turns JCC into jewelry center

By Yenni Kwok

JAKARTA (JP): Indonesia's booming economy has lured the world's precious jewelry and watch businesses to try to tempt the country's well-heeled into buying their status symbols.

Gold watches, pearl necklaces, diamond rings and the like, all items claimed to be women's and men's best friends, are on exhibition at the Indonesia Jewelry and Watch Fair 1997 at the Jakarta Convention Center from Aug. 1 to Aug. 4.

For four days the Jakarta Convention Center will be transformed into a giant jewelry center. It is like strolling through a jewelry shops as there are dozens of stands displaying precious metals and gems under bright spot lights.

More than 70 participants from 15 countries are taking part in the exhibition.

Some are local companies, some come from other Asian nations like Singapore, Thailand and Hong Kong, while others are from as far away as Afghanistan, the United Kingdom, France, Italy and the United States.

The retailers specialize in different fields like watches, diamonds, pearls or precious gems. A few sell antiques.

Several brand name companies will have exhibits, most notably Omega, Gerald Genta, Montega and Daniel Roth watches. The last three of which are sold by Singapore-based watch shop chain, The Hour Glass.

Big jewelry companies taking part include Larry Jewelry Singapore and Belford Jewelry.

Hong Kong Jewelry Manufacturers Association will have several stands for its members.

Indonesians are known to prefer overseas brand name items, favoring shops in Hong Kong and Singapore over local ones.

H. T. Monterie, a marketing manager with a Finnish company who visited the exhibition agrees. He usually buys his favorite brand name watches like Rolex, Cartier or Brietling, in Singapore or Europe because they are cheaper there.

The general manager of The Hour Glass' Jakarta representative, Sandy Khoo, said prices could be 20 percent to 30 percent cheaper in Hong Kong and Singapore because of lower tax and duty.

Assured quality is another reason many people prefer to buy overseas brands.

Monterie said many local shops did not sell genuine products.

"They may sell secondhand Rolex watches, or they replace some of the genuine parts," he said.

Khoo acknowledged this problem. "A lot of shops here sell their customers secondhand watches, not the brand new products," he said.

He said The Hour Glass never sold secondhand watches.

The Hour Glass has stores in eight countries: Singapore, Indonesia, Malaysia, Thailand, Hong Kong, Taiwan, Australia and Switzerland and caters to Western and Eastern tastes which vary greatly.

Montega's line of flashy jewelry watches, for example, are well known but not particularly popular in America and Europe. But when these watches are introduced to Asia, people go crazy over them.

"Indonesians especially like the glittering products," Khoo said.

True, not all of Indonesia's 200 million people can afford to buy S$125,000 Gerald Genta watches. But even five percent of the population is many people.

Khoo said only about half a percent of the population could afford to shop at The Hour Glass?

But he sees Indonesia as a big, attractive market for luxurious watch sellers because the population is big and the economy is growing.

Jewelry businesses also see Indonesia's potential.

Hong Kong firm Cadeco Company Limited's Karen Tung said "we want to find another market. We hope that they will then look for us when they go to Hong Kong".

Besides individuals, Indonesia Jewelry and Watch Fair 1997 is also targeting the jewelry industry, retailers and investors.

Several companies specializing in jewelry making equipment are taking part in the exhibition and on the exhibition's first day there were seminars on the technical and investment aspects of the jewelry industry.