Manoeuvring political instability
While a great deal of time and effort goes into conceiving, designing, and manufacturing jewellery, outside forces can upset even the best thought-out plans. Augusto Ungarelli, chief executive officer (CEO) of Vendorafa, says jewellery exporters are struggling with decreasing interest in luxury goods due to political instability in markets like Russia and the Middle East.
“Libya, Syria, and Jordan were very active in terms of buying jewellery,” he notes. “Right now, Jordan is under psychological pressure in terms of regional struggles and retailers aren’t bringing a positive attitude to doing business. Russia has been a significant luxury market in the last few years, but after the embargoes, buying immediately stopped.”
At the end of the four-day fair, Corrado Facco, vice-chair of DV Global Link and managing director of Fiera di Vicenza, said the show’s debut was in line with organizers’ expectations and “achieved very positive results.”
“Despite unfavourable economic circumstances and geopolitical contexts in notable major markets for the global jewellery industry, the success of the inaugural event has strengthened our resolve to continue expanding the show over the next few years, especially in tactical capacity areas, such as high-end consumption and luxury-product absorption,” Facco said.
“This super show is a strategic operation for both Fiera di Vicenza and the international jewellery industry—the Dubai event has the capacity to connect global suppliers with emerging customers in the Far East and Africa. We hope this first edition represents the prologue of a great success story, one where DV Global Link builds its standing as a global player and Vicenzaoro Dubai establishes a position as one of the world’s top five events for the international B2B jewellery and goldsmith sectors by 2020.”
Next year’s Vicenzaoro Dubai is set for April 14 to 17.
