Christoph Keilmann CEO Munich Show

Mr. Keilmann, the first half of 2024 has passed. The summer break offers a good opportunity to reflect on the first six months and to look ahead to the fall. How has it been for you so far?
From the perspective of the Munich Show, I am very satisfied. We were able to completely free ourselves from the aftereffects of the pandemic last year and are now seeing more registrations than ever before. This makes me especially happy because it shows that our efforts over the past few years to provide the industry with a reliable trading platform, as well as a place of inspiration and exchange, are being appreciated.

What problems are you currently facing?
We are facing significant challenges in the form of exorbitantly increased cost structures. This mainly concerns labor and energy costs, but also the increasingly complex bureaucratic obstacles. When you count all the service providers involved, you come to several hundred people working for the Munich Show. Wage increases of 20 to 30% cannot be fully passed on to exhibitors and must be absorbed by ourselves. Added to this are unrealistic political demands that burden us as a small family business with tasks that push even the specialized departments of large companies to their limits.

How do you assess the situation in the industry?
I see a similar picture here. Fortunately, there is still a lot of passion involved—whether you are talking to exhibitors from the collector minerals or loose gemstones sectors, or with jewelry designers and major brands. There are many great ideas for doing good business, even in these times.

How are you preparing for the second half of the year?
I am optimistic about the year-end sprint. The most important message for me is: It goes on! We work in an industry and with products that bring joy, signify appreciation, and make eyes light up. The greater the challenges, the more we need them.

The fall fairs are experiencing a transformation. After a period of euphoria and new concepts, some operators are now facing setbacks. What is the reason for this?
Fall is an exciting season for the jewelry industry—after all, 80% of annual sales are made in the last months of the year. The traditional fall fairs focus on unbranded jewelry and, as cash & carry events, are close to the end consumer. This type of fair has the advantage that a dealer does not have to make a long prepayment but can stock up for the business of the coming weeks over two days. This primarily serves the lower and middle price segments at a regional level, and the focus is on sales rather than staging. Some new approaches in recent years have been based on a different idea: to provide a platform for branded jewelry. However, brands have very different requirements for the level of a fair than white-label manufacturers do, and these demands come with significantly higher costs. Many brands were not willing to bear these costs. It has become clear that demand and willingness to pay often do not match in Germany, which is why some major events could not sustain themselves.

How can Gemworld remain so stable in this challenging situation?
Gemworld has a crucial advantage due to its connection to the Munich Show and its strong focus on international, loose gemstones. Its uniquely European rough stone offering also makes Gemworld interesting for processors and brands who want to maintain control over the gemstones they use from the very beginning. Therefore, both Gemworld and the Munich Show are incredibly valuable opportunities for all professionals in the gemstone sector to discover, exchange, observe the market, and expand their knowledge. It is precisely this connection that makes Gemworld so interesting as a purchasing fair in the fall for the jewelry trade. We repeatedly hear from our exhibitors that Gemworld’s trade visitors are exceptionally competent and passionate. This applies to goldsmiths and processors as well as to dealers who stock up with us for the Christmas business.

What do you expect for the future development of the fall season?
Fall will continue to be a very attractive period because the end customers' purchasing motives have not changed. While online orders from retailers to wholesalers are becoming increasingly important, our business is still largely about the tactile experience. Moreover, stones are very individual, and dealers want to select chains or bracelets for their customers themselves. Where I see an opportunity for branded jewelry is in consumer-oriented boutique events, where small and medium-sized manufacturers can present themselves and establish an emotional connection between the customer and the brand.

You have announced a record number of exhibitors for Gemworld. What can visitors expect at the fair in October?
More than 1150 dealers from over 64 countries will come to the Munich Show—more exhibitors than ever before. With around 350 participating companies, Gemworld also plays a large part in this. For visitors, this means primarily an enormous range of products and qualities, as well as a wide selection within the assortments. Munich Show and Gemworld thus offer the perfect opportunity to discover new designs, compare prices and qualities, and get inspired. Thanks to our unique internationality, trade visitors can meet suppliers with us that they would not find elsewhere in Europe and establish interesting contacts with them. Gemworld is the largest platform in the German-speaking world for loose gemstones, diamond and colored gemstone jewelry, or gold and silver jewelry. And the presence of the three German trade associations, relevant trade media, and renowned testing institutes underscores the importance of Gemworld as a networking event.

Will it be possible to transfer the enthusiasm to a new generation of jewelry enthusiasts?
As an industry platform with an outward impact also towards the end consumer, we have been committed to promoting young talent for many years. In addition to the jewelry competition Young Designers Corner and the New Design Forum, this year the vocational school Idar-Oberstein and the goldsmith school Pforzheim will also present themselves at Gemworld to appeal to potential young professionals. An attractive lecture program rounds off Gemworld’s offering for trade visitors. With the two trade visitor days on Thursday and Friday, industry insiders have plenty of time to explore this diversity at their leisure.