VicenzaOro: ‘Made in Italy’ shines brightly at About J and ‘Fall’

by charlene_voisin | December 1, 2012 9:00 am

By Jacquie De Almeida

Italy’s economic woes did little to dull the spirits at VicenzaOro’s About J and ‘Fall’ edition. In fact, it is fuelling ongoing efforts to promote ‘Made in Italy’ jewellery to markets like China and India where consumers are looking to Italian designers to satisfy their appetite for brand-name products.

It’s an opportunity the events’ organizer is seizing, as it works to position itself as a global player and help create closer ties between Italian brands and retailers and consumers in those key markets, says Fiera di Vicenza chair and chief executive officer (CEO), Roberto Ditri.

“In this global environment, the time has come to shift our presence directly into new markets,” explained Ditri, addressing the international press at About J, which was held in picturesque Cortina d’Ampezzo.

“Fiera di Vicenza moves where the markets are for growth potential and especially for market segmentation, promoting Italian high-end, top-quality innovative, creative, and artistic design, as well as flawless manufacturing”¦ The aim is to directly enter those markets where demand trends are increasing with dynamic formats that promote Italian products and fine jewellery.”

‘Fall’s’ theme—Creativity 5.0—will factor heavily in that, as it re-invents how companies relate with a particular market by developing interactive strategies regarding product and process innovation, new approaches to distribution, and better communication with consumers. It’s an initiative that takes the web 2.0 concept of information sharing, interoperability, user-centred design, and collaboration to the next level.

The fair’s FDV 2011/15 revitalization plan is on schedule where strategic alliances are concerned, particularly in markets where gold jewellery consumption is high. Earlier this year, Fiera di Vicenza and the Dubai World Trade Centre (DWTC) signed a far-reaching agreement that will encourage collaboration between the two groups, with the fair acting as a representative for all Italian and European jewellery, gold, watchmaking, and technology brands exhibiting at the yearly Dubai International Jewellery Week.

    

An agreement with the Gems and Jewellery Export Promotion Council (GJEPC) will see the fair become an official partner, bringing the ‘Made in Italy’ brand to the India International Jewellery Show (IIJS) next August. Deals are also in the works with the other so-called BRIC countries: Brazil, Russia, and China.

The VicenzaOro Italian Club is also scheduled to hit the Las Vegas strip at next year’s JCK show, with about 150 Italian companies in tow. Other promotional efforts include the North American Buyer Cultivation Initiative, a project that will tap 12 U.S. retailers to act as ambassadors for the VicenzaOro brand to develop customer loyalty and expand trade relations between the two countries. In addition, T-Gold International—the fair’s technology show—will be travelling to China, Brazil, and India in collaboration with Associazione Fabbricanti Esportatori Macchine per Oreficeria (AFEMO) and with the support of the Italian Ministry for Economic Development.

On the home front, the fair’s new 15,000-m² pavilion is on track to be completed in 2013, along with an eight-storey, 600-car parking garage. The extra space is in anticipation of growth in attendance due to the fair’s new partnerships. About 50,000 buyers gather for the three annual shows, but Ditri says that number is expected to increase by 100,000.

At ‘Fall,’ more than 1400 exhibitors from Italy’s traditional gold centres, as well as 30 countries around the world, participated in the event, billed as a final opportunity to stock up for the holiday season. Although final numbers were unavailable at press time, 15,000 buyers from 120 countries were expected to attend.

From the show’s aisles, notable design trends included interchangeable drop earrings, spiral rings and cuffs, rutilated quartz, turquoise, concave-cut gemstones, and laser-cut surfaces creating a diamond-like finish.

As global economic conditions infringe on the jewellery industry, creating the conditions for retailer success remained a priority among exhibitors.

Ricardo Vianna, owner of Vianna Joias in Brazil, says one of the biggest challenges right now is the decrease of gemstone production in that country due to tougher environmental procedures at the mining level. For the artisanal miners who extract the stones, the costs are very high, and projects must be approved by slow-moving government bodies.

    

“The regulations are a good thing,” says Vianna, an exhibitor at both About J and ‘Fall.’ “They’re good for the country, the environment, and the miners, but we’re seeing less gemstones. When you’re in controlled mining, there are costs involved, and most of the artisanal miners don’t have the money to do that. Also, the mines themselves are drying up.” Chinese companies with much greater buying power are also leaving less material to go around, he adds.

The cost of gold hit its highest level since March over the course of the shows. At nearly $1740 US per ounce, gold prices put exhibitors and retailers alike back on all-too familiar ground, with experts predicting they have nowhere to go but up.

In the hub of the Italian gold market where 18-karat is the standard, one-karat gold may seem out of place. With a gold content of only 4.167 per cent, the patent-pending alloy can be cast, is 40 per cent lighter than 18-karat gold, and is nearly identical in colour. However, it cannot be stamped as gold.

The material is gaining interest in the fashion jewellery market, as well as in eyeglasses and accessories like handbags, says Mauro Vanzi of Vicenza-based One Karat Gold. “We’re just starting to make ourselves known and trying to figure out where we need to go in the market,” he adds.

While gold continues to climb, a depressed rough diamond market over the summer made for bigger price differences than usual along the pipeline due to overtrading and stock liquidation. In June, average rough prices fell about 10 per cent.

“When prices go down, instead of making people hungry to buy, it makes them expect that they’ll decrease even more, so people postpone their buying,” says third-generation diamond dealer, Bert Jan Schatz of Antwerp-based Benelux Diamonds.

    

Getting consumers to make spur-of-the-moment purchasing decisions is one of the reasons behind Rosato’s brand overhaul. Recently purchased by Bros Manifatture, parent company of Brosway, Rosato’s new direction centres on displaying its line of charms as ‘moments of life’ in consumer-friendly upright cases where each piece is in its own lighted window. The displays allow shoppers to see the pieces up close and at eye level. “Jewellery is usually very small, not like shoes or a dress,” says brand manager, Valerio Beleggia. “You need to be able to see it up close to appreciate it.”

Rosato is also moving away from brand ambassadors, which in the past included Liz Hurley and Demi Moore. It sees the tactic as a way of connecting directly with consumers, rather than presenting them with a picture they may not relate to. “Jewellery is about storytelling, not a testimonial. When you see a celebrity wearing a piece of jewellery, you make a connection between the two.”

Making the connection between a celebrity and jewellery is one of the reasons behind the Style of Jolie, a collaboration between Angelina Jolie and private jeweller Robert Procop. Instead of benefiting either, however, proceeds from the sales go toward Jolie’s foundation, Education Partnership for Children of Conflict, which funds education programs for children affected by manmade or natural disasters.

“People recognize Angelina’s charitable work,” Procop tells Jewellery Business. “She doesn’t look at it as just attaching her name to a cause. She goes to those countries and really tries to make a difference. It’s not just an idea for her. Her main goal is to use her name and image to help people.”

Effecting change through sustainable and ethical sourcing also led as a trend among many exhibitors, although making inroads in some areas of the world is more difficult than others. Italian jewellery designer Licia Mattioli says ethical sourcing has come a long way, but more needs to be done to change viewpoints in markets outside Europe and North America. In places where corrupt or ineffective governments operate, roadblocks exist and are difficult to remove.

VicenzaOro ‘Winter’ takes place Jan. 19 to 24, 2013.

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