The latest agreements are part of the fair’s 2013/2017 strategic plan, which includes delivery of a new pavilion and an eight-storey, 600-car parking garage to be completed by the end of this year. The 15,000-m2 hall will be organized into ‘communities,’ reflecting categories identified by TrendVision, the fair’s independent research centre. At the heart of the new additions—which cost 32 million euros ($44 million Cdn)—are food services and reorganization of access routes, two considerations high on the fair’s list of priorities in anticipation of growth in attendance due to the new partnerships. About 50,000 buyers gather for the three annual shows, but fair officials say that number is expected to increase by 100,000.
“Fiera di Vicenza is updating its approach and its strategies,” fair president Paolo Mantovani told the international press.* “The focus aims at improving the quality of the exhibition format, space, purchase flows, as well as the services offered to exhibitors and buyers, in order to facilitate matching supply and demand.”
Mantovani also announced creation of a steering committee made up of select companies belonging to the gold, gemstone, and technology sectors. The group is expected to meet three or four times a year to discuss ways to develop projects of common interest.
Brazil is one area of common interest among exporters. This market’s appetite for brands is appealing to jewellery companies, but steep import taxes remain the biggest obstacle. Some have even considered importing gemstones, diamonds, and other materials into the country and finishing the goods onsite, whether in their own facility or by partnering with an established manufacturer.
Ricardo Vianna, owner of Vianna Brazil, located in the southeast part of the country, says there are several considerations to take into account.
“The market in Brazil is very small for jewellery, and legislation can be difficult to manoeuvre,” he said. “People see in the media that the Brazilian economy is booming, but that’s because of commodities we sell to China. Yes, it is true there is a whole group of people moving from lower class to middle class, but they are spending their money on electronics or renovating their houses, not jewellery.”
In the heart of Italy’s gold industry, the price of the precious metal is always a consideration. Metals consultancy Thomson Reuters GFMS is forecasting gold prices to fall below $1300 US per ounce toward the end of 2014. At press time, the spot price hovered around the $1310 US mark, more than $600 below September 2011’s record high of $1920.30 US.
