Taking ‘Made in Italy’ abroad
Italian manufacturers are struggling at the moment due to lack of government support and a sluggish domestic market; however, it’s the handmade craftsmanship of brands like Gerardo Sacco that consumers abroad find appealing, particularly in Dubai.
Elisabetta Molina Valerani of Garavelli, a 95-year-old manufacturer based in Valenza, Italy, agrees the artisan’s expertise in handcrafting a piece of jewellery is valued more and more in markets like Dubai. While brand value—and by extension, the millions spent on marketing—is part of the equation, retailers are seeking out handmade designs, as opposed to mass-produced pieces. At Vicenzaoro Dubai, discussions about price point tend to focus on the value craftsmanship brings to a piece.
“There is a demand for smaller niche products that can allow consumers to be more unique in their sense of style,” she says. “Artisanship is important for high-end and mid-market consumers.” Like Gerardo Sacco, the company prefers to stay true to its roots by keeping production small, allowing it to be flexible when it comes to customizing a design. Valerani says catering to clients in such a way makes them top of mind and serves them well among their elite clientele.
A ‘super show,’ a ‘super market’
Held April 23 to 26 at the Dubai World Trade Centre, Vicenzaoro Dubai is being billed as a ‘super show’ serving one of the world’s biggest luxury markets for gold and diamond jewellery. According to show organizers, Dubai boasts a quarter of the world’s physical gold trade. Nationally, the United Arab Emirates (UAE) ranks alongside China, India, Russia, and the United States in the world’s top five international hubs for gold bullion and jewellery trade.
About 500 top brands from more than 25 countries exhibited at the inaugural event, which was divided into four clusters: Global Brands, Fine Jewellery and National Pavilions, Gemstones and Diamonds, and Packaging and Supply. Organized by DV Global Link, a joint venture between Fiera di Vicenza and the Dubai World Trade Centre, the show kicked off with a ribbon cutting by His Highness Sheikh Hasher Bin Maktoum Al Maktoum, director general of the Dubai department of information.
Matteo Marzotto, president of Fiera di Vicenza, described Dubai as a natural market in which to introduce the ‘Made in Italy’ brand. “We have to be rooted in Italy with our jewellery-making know-how, but we have to extend our hands to other areas of the world, especially in Dubai,” Marzotto told the international press.
In the last decade, Dubai has become a significant diamond trading hub. According to the Dubai Diamond Exchange (DDE), the emirate imported $590 million US in rough diamonds in 2003. Last year, that figure reached $5.8 billion US. Import value for polished diamonds in 2003 totalled $1.2 billion US and by 2011, it had grown to just over $14.8 billion US. More and more diamonds are moving through Dubai, which would appear attractive to unethical dealers in the industry intent on fraudulent activity. Following his presentation entitled, ‘Diamonds—Are they forever?’ Ziad Khaled of Gemological Institute of America (GIA) noted undisclosed synthetics had been detected at DDE. Stressing the difficulty of identifying lab-grown diamonds without advanced equipment, he warned the importance of dealing with trusted companies. “You have to know your sources and trust your supplier,” he said, adding DDE is equipped with a synthetic diamond detector. “However, you also have to keep in mind your supplier has to also trust their sources.”
