The agreement identifies Fiera di Vicenza as a strategic partner in the organization of national and international events for the jewellery sector, and premium jewellery in particular. The deal also calls for AOV to promote About J starting with the 2013 edition.
As work continues on a pavilion and multi-storey parking garage to be completed this year, the fair announced a new exhibition formula it is dubbing the ‘Boutique Show.’ Starting with ‘Winter’ 2014, exhibitors will be organized into ‘communities’ reflecting categories identified by TrendVision, the fair’s independent research centre.
VicenzaOro’s commitment to staying ahead of the curve is one of the main reasons behind a series of international summits focusing on future business trends that will lead each of the fairs this year. The discussions will centre on issues such as new scenarios and distribution markets, online trading opportunities and through social networks, strategies for promoting brands, advertising and promotion, forecasting, new perspectives for luxury goods, and the evolved consumer. Chaired by Financial Times writer, Simon Brooke, ‘Winter’s’ inaugural summit brought together industry experts like Nadja Swarovski of Swarovski; Artak Udumyan, executive director of the Armenian Jewellers Association (AJA); and designers Stephen Webster and Roberto Coin.
“To develop the jewellery sector, we have to communicate on an international level,” Ditri told a packed house of about 2000 people. “It is important that people get their information from all over the world. If the place of demand is far, we either have to go there or bring it to us. We can’t just operate in Italy or the United States or in Europe. We have to operate in the world to be successful.”
China continues to be one market to which the fair has been keen to promote the ‘Made in Italy’ brand, as consumers there look for brand-name product with cachet.
According to Jenny Jing, editor-in-chief of Harper’s Bazaar Jewelry China, jewellery consumption in that market last year totalled 45 billion euros ($60 billion Cdn). In that part of the world, a 100,000-euro ($135,000 Cdn) yearly budget for jewellery is not unheard of among elite shoppers, Jing said at the summit. However, breaking into markets like China requires caution. In Russia, another so-called BRIC country, deep pockets are a must as well, says Udumyan, who is also vice-president of Russia-based Estet Jewelry House.
“Russia is still in transition,” he said. “It’s not the same kind of market as Europe or the United States. Partnerships are very important because they provide knowledge of the country and other important connections. If you don’t want to have a partner, you have to invest a lot of money, maybe $3 million to supply goods, $1 million for offices and logistics, and maybe $1 million for advertising. This is a lot of money for small or medium-sized companies, so a partnership is a very good idea.”
