Italian exporters eye emerging markets
VICENZA, Italy, September 11, 2010 – Emerging economies like China and India are the fastest growing potential markets for Italian precious jewellery manufacturers and appreciate the quality of the best “Made in Italy” designs, Roberto Ditri, president of the Vicenza fair, said today.
Corrado Facco, general director of the Vicenza Fair, and Roberto Ditri, president of the Vicenza Fair, give a news conference on September 11, 2010
Emerging markets were the driving force behind the 23 percent jump in Italian jewellery exports by value to 1.78 billion euros in the first five months of 2010, Ditri told a news conference on the second day of the “Choice” edition of the Vicenza fair.
“Italians don’t realise just how much ‘Made in Italy’ product is admired,” he said.
However, he said he wanted to see governments do more to facilitate Italian jewellery exports to countries such as China where heavy import duties complicated trade.
Ditri said the Italian sector could not compete with the Chinese and Indians on a cost basis in terms of “commodity products” in jewellery and had to maximise the “value added” components of designs.
He acknowledged that the 23 percent revenue boost had to be looked at within the context of the surge in precious metals prices, as manufacturers now bore additional costs, but he said they had made a net gain from the increased income despite the higher costs.
Now the Vicenza Fair is stepping up efforts to help promote exports of Italian jewellery by establishing the “VicenzaOro Italian Club” at international events.
Vicenza Fair Choice Edition 2010
ItaIlian exporters must take advantage of the fact that economic growth in Asia and in other emerging markets is faster than in Europe, Ditri said.
He said there was no room for complacency in promoting “Made in Italy” product despite a widespread conviction that Italian jewellery was of the highest quality.
India represented tremendous competition and a vital market opportunity, Ditri said.
He said the best work of India’s designers, flaunted in a series of catwalk shows at the India International Jewellery Week (IIJW) in Mumbai in August, was a challenge to the Italian sector, but fair competition was welcome, and India’s increasingly affluent consumers represented a glowing market opportunity for Italian designs.
Ditri said the Vicenza Fair planned to continue to support the About J luxury show to promote high-end jewellers, but he gave no details on the location or timing of the next event.