NY diamond manufacturers in Jakarta

NY diamond manufacturers in Jakarta

JAKARTA (JP): If the well-being of a nation's economy was measured by the number of European jewelers infiltrating the domestic market, then Indonesia is indeed be gaining affluence.

From Jan. 18 to 22, Louis Glick Diamonds of New York is presenting a display of their jewelry at the Shangri-La Hotel. On Wednesday, in order to celebrate the occasion and entice local buyers cloaked in Chanel, Louis Glick Diamonds, in co-operation with Star Diamonds of Jakarta, also held a glittering fashion show.

Much of the classically simple collection was comprised of chokers, pearl-drop or flower-shaped earrings, and tasteful tiaras.

The quality of a diamond is judged by its color, cut and clarity. The rings set with rare yellow diamonds were particularly impressive. Only the "fancy pink" and "fancy blue" varieties are more expensive. Yet an exhibit cannot exist on subtlety alone. A half diamond and half emerald necklace, and a glimmering choker with a dangling massive pearl of emerald, elicited gasps from the audience.

All the glitter, however, is served strictly on a silver platter. Although the Louis Glick jewelry is not for sale and will be shipped straight back to New York after the exhibit, the minimum a prospective buyer will have to part with is US $50,000. More ornate pieces fetch more than $200,000.

In defense, Gabriel Ramos, Glick's representative, explains that Louis Glick Diamonds is the biggest manufacturer of diamonds in the world, and earns that prestige from producing only the highest-quality jewelry.

"Our diamonds have life, they have a history", said Ramos, "and the best French designers work with us, like Buisson, Souleine and Georland."

Louis Glick began specializing in small diamond manufacturing 50 years ago. Ten years ago, they began venturing into jewelry design and production. Today they are the second largest diamond manufacturer in the U.S., supplying handsome jewelry to luxury- goods houses Cartier, Tiffany and Van Cleef & Arpels.

The move to enter the Indonesian market, Ramos explains, was fueled by the impressive performance of the Indonesian economy, and by the increasing share of the Southeast Asian market in worldwide diamond sales. Southeast Asia, including Hong Kong, accounts for 40 per cent of total worldwide sales, and Ramos expects this figure to rise to 60 per cent. Considering that precious jewels have long been the luxury of the European, North American and Japanese elite, these numbers come as a surprise.

Ramos elaborates that sales in the U.S. and Europe suffered due to the recent recession, but has since stabilized. In Indonesia, however, Ramos "sees a good future, because the GNP here is growing while elsewhere it is stagnant."

With his enterprise benefiting from an annual sales increase of 10 to 15 percent, Indra Hidajat from Star Diamonds agree that the market in Indonesia for luxury jewelry is becoming larger. His work with Louis Glick Diamonds stem from a desire to widen the diamonds market here, and to improve the technology and expertise of domestic diamond manufacturing. The learning process, however, is still at the infant stage, and Hidajat acknowledges that "the results of cooperation can only be seen in the long-term."

-- Dini S. Djalal