Interview with Jörg Lindemann: Trends in the Watch and Jewelry Industry

In an interview with Messe.TV presenter Klas Bömecke, Jörg Lindemann, Managing Director of the German Gemstone and Diamond Industry Association, explains the tasks of the association. He also talks about trends in the industry and the importance of the Inhorgenta jewelry trade fair in Munich.

German Gemstone and Diamond Industry Association - Inhorgenta Munich

Klas Bömecke: Mr. Lindemann, you are the head of the German Gemstone and Diamond Industry Association, what exactly is behind this long name? Jörg Lindemann: Yes, we are a trade association and represent the interests of the jewelry, gemstone and diamond industry in the broadest sense. It's very wide-ranging, starting with my day-to-day work as a lawyer advising our companies on employment law and representing them up to the second instance. It then continues with my work on trade fair advisory boards, where we are also involved or represent the interests of our industry in the legislative process as far as our industry is concerned, nomenclature issues, in other words everything that is basically interesting and relevant to the industry. Another very important aspect of my work is the federal government's foreign trade fair program - in short, we ensure that there are so-called 'German Pavilions' at important foreign trade fairs. There are currently five of them, three in Hong Kong, one in Las Vegas and one in Tokyo. Klas Bömecke: So that you can do business everywhere. Jörg Lindemann: So that the Germans keep the flag flying high, even in other countries. Exactly. Klas Bömecke: How important is Inhorgenta in Munich for you in this context? Jörg Lindemann: In my opinion, Inhorgenta is one of the most important trade fairs of all, which is partly due to the timing - we have the Christmas business behind us. Many new collections are now in the pipeline, many professionals are buying new goods, so it's a very good opportunity to get an overview of what's popular on the market and what trends there might be. Klas Bömecke: Which ones are there? Is there a big stone that you can say is coming right now? I think a diamond always works. Jörg Lindemann: Always works. Yes, that's true, although you also have to talk about qualities, there is a clear tendency for the particularly good qualities to do very well, the middle segment has suffered somewhat in recent years and lower qualities, cheap is also good. Klas Bömecke: Stinginess is still cool. Jörg Lindemann: Yes. Yes, that's true, but as I said, Inhorgenta is a very important trade fair for our industry and if I'm speaking for the gemstones, you only have to go to C1 - what you see there is huge. The selection there is huge, also in terms of quality. You really do see very select and excellent goods there. Klas Bömecke: Is there a lot of work being done with precious stones at the moment, or is it more that people are saying more pure gold or something? Jörg Lindemann: No, I think the connection between jewelry and gemstones is naturally very close. In my observation, you will find colored gemstones or diamonds in most collections, and that also applies to the watch industry. It's also nothing new that watches have had gemstones in their range for many years: there are sometimes diamond settings around the watch, there are also colored gemstones integrated into the dial, and then there are dials made of lapis, for example. The gemstone actually plays a very large and important role everywhere.

Klas Bömecke: And probably not only in Germany, I mean it's a global market - gemstones and diamonds - is it easy for the German industry to always get enough of the right quality? Jörg Lindemann: That's a very big problem and I think it's a problem that will become even more acute in the years to come. In my view, securing raw materials is one of the two central problems. The other problem will be the recruitment of young talent, which will certainly be difficult in the medium term to get good skilled workers and, unfortunately, our industry in Germany is trying to get the top qualities on the market and there are unfortunately a lot of financially strong buyers from the Far East who are buying up entire productions. You have to make sure that you stay on the ball and secure the raw material. Klas Bömecke: So if the raw material becomes scarcer, the product becomes more expensive? Jörg Lindemann: Definitely, but that's one of the laws of the market, of course. Klas Bömecke: But if that is foreseeable in the long term, then the motto is actually buy a diamond now rather than the day after tomorrow! Jörg Lindemann: Well, what you are talking about is certainly a trend that can be recognized. You all know that funds and investments sometimes burst like bubbles and we are already seeing a certain tendency among consumers to return to values. It is often discussed whether the gemstone, the diamond is an investment, you have to look at it in a very differentiated way, if at all you need extremely good market knowledge to get into this area and it certainly only applies to selected top qualities, if you speak of investment at all. Klas Bömecke: That means I shouldn't necessarily do that as a layman. Jörg Lindemann: No, absolutely not. I would advise against it. Klas Bömecke: In conclusion, the gemstone and diamond industry is and remains a flourishing one, isn't it? Jörg Lindemann: Yes, I would see it that way, quite realistically. The industry has been around - I'll call it that - for thousands of years, basically, and it will continue to exist. Of course, it's important to move with the market, recognize trends and always stay on the ball, and then I think you'll be well positioned for the coming years. Klas Bömecke: Yes, and you can see the current trends here in many different ways. Jörg Lindemann: That's right. Klas Bömecke: Thank you very much for your time. Jörg Lindemann: With pleasure. Klas Bömecke: I wish you all the best, Mr. Lindemann. Jörg Lindemann: Thank you very much. Goodbye. Official website Bundesverband Edelstein- & Diamantindustrie e. V.: www.bv-edelsteine-diamanten.de

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