AREZZO, Italy, May 7, 2016 – Buyers from around the world, notably the United States, Russia and the Middle East, turned out in force on the first day of OroArezzo, the annual gold jewellery trade fair in Arezzo, Tuscany, on May 7, 2016.
“The world is here,” said Andrea Boldi, president of the Arezzo fairs, referring to some 450 buyers from key markets for Italian made gold jewellery, such as the United States (40), Russia and CIS (80), Dubai (25), Lebanon (30), as well as Hong Kong (20) and Israel (10.)
OroArezzo has expanded in recent years, filling a gap left by the departure of the May edition of the Vicenza gold jewellery fair to Dubai.
At OroArezzo, around 650 exhibitors, including a large group from Arezzo, as well as from Vicenza (150), Alessandria (20), Naples and Caserta (20), and 40 from abroad, showcased their latest gold jewellery designs, made with skilled craftsmanship and state-of-the-art technology. A section of the fair was devoted to machinery and tools for gold jewellery manufacture.
The fair, which runs until May 11, is expecting 18,000 trade visitors.
In an interview with Corriere di Arezzo newspaper, Boldi said that Arab markets were vital for exports of Italian gold jewellery, noting that economic growth was set to grow strongly in Dubai, for example, over the next five years.
“The Arab markets, according to recent studies and forecasts, remain fundamental,” he said.
At the inauguration of the fair, organisers feted Silvano Giommoni, a longstanding employee of UnoAerre, a prominent gold jewellery company from the area which was celebrating its 90th anniversary.
Giommoni, 87, is a symbol of the region’s goldsmithing tradition, having joined UnoAerre as an apprentice in 1947 and spent 42 years with the company before retiring as a manager.
UnoAerre had a prime location at the fair in front of the main entrance, which featured a copy of the renowned bronze, the Chimera of Arezzo, one of the best known examples of Etruscan art.
Exports of Italian gold jewellery are facing tough global economic conditions this year, due to the impact of weak oil prices on the main markets in the Middle East, financial market volatility, and a slowdown in growth of the Chinese economy.
Giovanni Micera, director of trade publisher Golden Agency, said the surge of gold prices this year had heightened challenges for Italian gold jewellery exporters, as their raw material costs had risen.