A Message From Bill Boyajian
As we approach the halfway point of the year, I’m sure we can all agree that this is one of the more challenging periods in recent memory for the gem and jewelry industry. Of course, those of us who have been in the trade for many years have witnessed similar periods, and we always seem to weather the storm. I have also found such times to be valuable in a different way. They tend to cause us to focus more closely on our business and on future planning and budgeting. These are essential ingredients for emerging from any economic cycle with a stronger sense of purpose and resolve.
Nonetheless, at the recent JCK Show in Las Vegas, we at the World Jewelry Center were most encouraged by the widespread positive reactions from tradespeople about the progress we have made. We fielded a steady stream of inquiries and requests for Letters of Intent to reserve office space in our trade tower. There was an air of excitement about this new global marketplace for gems and jewelry as one of the most unique and positive initiatives in the industry in many years. Clearly, it is an opportunity for those who see this as an avenue for increased business and market share.
We displayed our new scale-model at our booths at the Luxury and JCK Shows, and it attracted a great deal of attention. Many leaders of our participating firms were beaming as they stopped by to view the model, knowing that they have already secured their space. We even welcomed some celebrities to the booth, including Kathy Ireland, CEO and Chief Designer of Kathy Ireland Worldwide, and also associated with House of Taylor Jewelry. Kathy was also special guest at our table during the Indian Diamond and Colorstone Association (IDCA) dinner, where she gave the keynote address.
Our sales team remained busy throughout the show, not only greeting visitors at our booth, but also making presentations and visiting dealers and suppliers from around the world. We added 11 new Participating Firms for a total of 12,000 additional square feet of space in the trade tower, and 1,500 square feet of space in the retail center. We also increased the space of three existing firms by a total of 6,500 square feet. We now have 141 firms that have signed with Letters of Intent. In addition, we handed out about two dozen more Letters of Intent that are waiting to be signed.
If we did not see you personally at the JCK Show, please be sure to visit us at one of the many upcoming shows and events in which we will participate. These include the Hong Kong Jewellery and Watch Show; the JA New York Show; the IIJS in Mumbai; SJTA in Atlanta; and the Toronto Jewellery Expo, to name just a few.
As always, feel free to contact me directly to schedule a presentation or appointment, or to ask any questions that you might have.
Bill Boyajian
Managing Director
(310) 691 9562
bboyajian@worldjewelrycenter.com
World Jewelry Center Company Profile:
Pioneer Gems–Designs by Ashok Sancheti
 Pioneer Gems has served the international gem and jewelry industry for over 25 years as one of the world's leading gemstone dealers. Company Owner Ashok Sancheti thought he could add a new dimension to the company by combining his artistic skills and knowledge of gems to create custom-designed jewelry.
That idea evolved in recent years after Sancheti began to design a few select pieces of jewelry. With each new one, he found his creative spirit growing. "Certain stones have always had a life of their own, and a voice, due to their uniqueness," he said. He decided to put this into practice by starting a new division, "Designs by Ashok Sancheti." The resulting company is also a World Jewelry Center participating firm.
Sancheti says he has found that designing fine jewelry is his avocation, while being one of the world's top colored stone dealers is his vocation. With locations in New York, Jaipur, Hong Kong, and Bangkok, and ultimately the World Jewelry Center in Las Vegas, Pioneer Gems–Designs by Ashok Sancheti has both a global reach and convenient accessibility for its customers. The tagline "Magnificence is our Obsession" inspires the firm's production of gemstones as well as its jewelry. Designs range from Art Deco to contemporary, and both platinum and 18K gold are used for settings.
Speaking of the pride that his company takes in the quality of its gemstones, Sancheti said, "The most beautiful garden will wither, the greatest of the natural beauty of the land and monuments will erode, but a gem-quality emerald and a Burmese ruby are timeless, non-generational, and an immediate heirloom."
"We are quite proud that Ashok decided to join the World Jewelry Center," said WJC Managing Director Bill Boyajian. "With his company's great reputation for quality products and service, and its global operations, Pioneer Gems—Designs by Ashok Sancheti exemplifies both the international nature of the World Jewelry Center and the superb leadership in our firms."
"It is a genuine pleasure to welcome Pioneer Gems—Designs by Ashok to the World Jewelry Center's distinguished list of participating firms," said Global Manager of Sales and Marketing, Jerry Buckley. " With this fine company we have another global industry leader that further enhances our mix of colored stone dealers and jewelry manufacturers."
Further information on gems and jewelry designs offered by Pioneer Gems—Designs by Ashok Sancheti can be obtained:

Photo 1: Ashok Sancheti is the Owner of Pioneer Gems-Designs by Ashok Sancheti. (World Jewelry Center photo)
Photo 2: Columbian emerald and rose-cut diamond necklace, by Ashok Sancheti; in platinum; emeralds, 12.21 CTW; diamonds, 10.17 CTW, AGL Certificate (Columbian, No Enhancement)
Photo 3: Natural peridot beads and pearl tassle, by Ashok Sancheti; in platinum; peridot beads, 234.77 CTW; diamonds, 7.46 CTW
Photo 4: Columbian emerald cushion earrings, by Ashok Sancheti, in platinum; emeralds approx. 19 CTW; diamonds, 5.10 CTW, Gübelin Certificate (Columbian)
Photo 5: Fancy cut diamond earrings, by Ashok Sancheti, in platinum; diamonds, 17.76 CTW
Photo 6: Spessartite Garnet Ring in platinum, by Ashok Sancheti: Spessartite garnets, 19.14 CTW.; Diamonds, 5.37 CTW.; AGTA certificate; natural, not heat-treated
Scale Model of World Jewelry Center Unveiled; Capacity Audience Attends Champagne Reception and Executive Update in Las Vegas
A new scale model of the World Jewelry Center was unveiled during the recent jewelry shows in Las Vegas, starting with Luxury by JCK, May 27 - 29, and then at the JCK Show, May 30 - June 3. The model depicts the WJC trade tower, retail center, and adjoining parking structure.
At the JCK Show, the scale model was displayed both at the WJC booth, and at the Champagne Reception and Executive Update held in the Venetian Hotel at the end of the first day of the show. Visitors traversing the main corridor leading to the JCK Show were regularly drawn to the model by the light radiating from the trade tower, and WJC representatives took questions from a constant procession of show-goers.
A capacity crowd attended the Champagne Reception and Executive Update, and a casual observer could easily spot numerous top industry leaders, as well as trade organization executives. WJC Managing Director Bill Boyajian presented a status report, indicating significant progress in many areas, from the amount of space reserved in the trade tower – more than one third – to many other details of the project plans.
Robert Zarnegin, the project's Principal, and President and CEO of Probity International Corporation, was introduced and met many of the guests. Somer Hollingsworth, President and CEO of the Nevada Development Authority, provided his expert insights about doing business in Nevada. He told the attendees, "This is the most exciting non-gaming property I've seen since I've been involved with the Nevada Development Authority."
Hollingsworth added that the WJC promises to expand the region's economic diversity. "This project will create huge economic growth and bring lots of jobs to our state," he said
Please click here to view a photo gallery of the World Jewelry Center at the JCK Show.

Photo 1: A new scale model of the World Jewelry Center was displayed during the JCK Show and at Luxury by JCK. (WJC photo.)
Photo 2: Robert Zarnegin (at left) Principal of the World Jewelry Center, and President and CEO of Probity International Corporation, with guests at the WJC booth during the JCK Show. (WJC photo.)
Photo 3: WJC Managing Director Bill Boyajian (from right) with Somchai Phornchindarak, CEO of the Bangkok Gems & Jewelry Fair, and Vichai Assarasakorn, President of the Thai Gem and Jewelry Traders Association, at the WJC booth during the JCK Show. (WJC photo.)
Kathy Ireland Visits WJC Booth at JCK Show


Photo: Kathy Ireland, CEO and Chief Designer, Kathy Ireland Worldwide (KIWW), visited the World Jewelry Center booth during the JCK Show in Las Vegas.
(World Jewelry Center photo)

Las Vegas News of Interest
Las Vegas Boasts Impressive Growth in Construction, Jobs, Development, Tourism
A report issued by the real-estate services firm CB Richard Ellis reflects an impressive array of statistics about Las Vegas that demonstrate strong growth in such important categories as new construction, jobs, business development, and tourism.
New construction now under way in Las Vegas is valued at $35.6 billion, according to the report, including projects such as: the Encore at Wynn, Cosmopolitan, City Center, and Echelon. Tourism continues to be a major economic driver in Las Vegas, with 39.2 million visitors to the city in 2007.
That huge visitor volume also means more air traffic, and Las Vegas ranks as the 6th busiest airport in the U.S. Millions of visitors create new jobs, and it is estimated that Las Vegas will have 106,360 new jobs by 2012 as a result of new construction and development, including 31,327 new hotel rooms.
Las Vegas also has over 9 million square feet of convention space. There were an astounding 23,847 conventions held in Las Vegas in 2007.
Las Vegas Retail Developers Optimistic, Continue to Build
Retail developers in Las Vegas remain optimistic about growth, and they are continuing with new projects such as shopping malls and casino-hotels, according a report in the Las Vegas Review-Journal.
The report says mall developers anticipate national retailers will open additional stores locally, and that foreign retailers will find Las Vegas to be an especially lucrative location in which to establish a U.S. presence. Joel Simkins, an analyst at Macquarie Securities, is quoted as saying, "If you are a foreign brand trying to come to the United States, you can have millions of eyeballs." As an example, he notes that as many as 20 million people (about half the annual Las Vegas visitor volume) are estimated to visit the Grand Canal Shops at The Venetian annually.
“If you are a foreign brand trying to come to the United States,
you can have millions of eyeballs
(see your products).”
Upcoming retail projects in Las Vegas include the Shops at Summerlin Centre, a retail center that will have about 100 stores, including Nordstrom, set to open in 2009 and the High Street mall at Echelon resort. In addition, Newland Communities, developers of Union Park, home of the World Jewelry Center, are making plans for a substantial retail presence within the master-planned community.
[Source: Las Vegas Review-Journal, Benjamin Spillman, May 21, 2008]

Photo: Las Vegas retail developers are optimistic about growth in their sector, and they are proceeding with a number of retail projects. (Photo courtesy of Las Vegas News Bureau.)
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