Trans Atlantic Gem Sales (TAGS) welcomed back its valued customers to Dubai between the 24th and 31st August 2020 at the first tender held in the DDE, Almas Tower since the commencement of the pandemic.
TAGS presented its regular productions from South Africa, Angola and Namibia with a total value of approximately $30 to $35m to nearly 100 companies coming to Dubai to view the productions; and secured sales totalling approximately 90% by value of goods offered.
Travel arrangements from India were extended for an additional three days, which was greatly appreciated by customers who needed to arrange the necessary tests/visa to travel.
According to TAGS, careful stock management and an improvement in polished sales resulted in a solid demand for rough. Many companies brought their planners from the factories to maximise evaluation and fulfil specific factory requirements.
Diamond manufacturers are reported to have stated that while the forthcoming season is going to require the procurement of additional rough through to Diwali, they estimate that sales could be as much as 30% less than last year.
TAGS also says that manufacturers welcomed the flexibility that its marketing model presents, allowing them to purchase the specific ranges they require at a volume of financial commitment that reflects their current position.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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