Italian jewellery exports increase in value terms – VICENZAORO Winter 2013
VICENZA, Italy, January 20, 2013 – Italian jewellery exports increased by 8.1 percent in value terms year-on-year in January to September 2012, with strong growth reported in the Chinese market, but in volume terms exports fell by 8.7 percent, according to the latest figures released at VICENZAORO Winter 2013.
Italy is one of the world’s leading exporters of manufactured gold jewellery, and is highly regarded around the world for its design skills.
Vicenza is a prominent centre for the Italian goldsmithing industry and is the home of VICENZAORO, one of the world’s leading gold jewellery trade fairs, which takes places three times a year, in January, May and September.
In value terms, in the first nine months of 2012, Switzerland was the no. 1 export destination for Italian jewellery, accounting for 21.9 percent of the total, followed by the United Arab Emirates (17.3 percent of the total), and the United States (8.8 percent), according to data compiled by the Vicenza branch of Verona university, using official ISTAT figures.
The Chinese market showed year-on-year growth of 19 percent as a destination for Italian jewellery exports, and now ranks fifth in value terms, or 5.1 percent of the total. China is one of the world’s top gold consumers, neck-and-neck with India.
THE FUTURE. NOW.
In a panel discussion on the opening day of the Winter 2013 edition of the VICENZAORO fair, senior jewellers spoke of the importance of looking to the future as they adapt strategies in the present to face up to the challenges of a rapidly changing global jewellery market.
Italian jewellers need to work harder to market the prestige of “Made in Italy” designs in order to capitalise on the strong image of Italian creativity around the world, panellists said.
Roberto Coin, whose jewellery has been distributed widely in the U.S. and other foreign markets, said, “It is in the Italian DNA to create all the time.”
Roberto Ditri, President of Vicenza Fair, said the Italian industry did not fully appreciate the extent of its potential to showcase “Made in Italy” to a receptive global market.
“The Made in Italy brand is the strongest one – and the Italians are not very good at promoting it,” he said.
Hank Siegel, president of Hamilton Jewelers in the United States, said that “Made in Italy” designs were greatly valued in the United States.
“The American consumer appreciates great design,” Siegel said.
Luxury jeweller Stephen Webster, known as jeweller to the rock stars, said the successful marketing of jewellery hinged on clearly defining one’s brand, and periodically re-assessing its key messages to the consumer.
“We were like the rock stars of the jewellery business,” London-based Webster said.
“But what does rock star mean? Does it mean a short life, or cheap? It can be amazing, but it can be a problem.
“We have to change the language and the meaning: what else are we? We’re craftsmen. We’re jewellers.”
Webster said that he had progressed as a jeweller by testing the boundaries of design to the limit.
“It was breaking the rules that put me on the map,” said Webster, whose jewellery has been worn by singers Christina Aguilera and Madonna.