Vicenzaoro opens with optimism

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Vicenzaoro opens with optimism

By Catherine Dayrit

January 12, 2009

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Vicenza, Italy--The first major jewelry trade show of the year, the aptly named Vicenzaoro First show, opened on Sunday, providing buyers with a look at the latest in Italian jewelry design and offering up a worldwide preview of 2009 jewelry trends.

More than 1,700 exhibitors set up shop for the event, which runs at the Vicenza Fairgrounds until Jan. 18.

Although pre-registration numbers are down 5,000 from last year, traffic on opening day appeared to be strong, with about 20,000 buyers filling the main arteries of the show floor. The pavilion for many of the show's high-end designers--including the likes of Chimento, Staurino Fratelli, Roberto Coin and Pianegonda--was especially busy.

Despite difficult market conditions, a shared sentiment of optimism seemed to prevail. In an opening speech, Dino Menarin, president of the Vicenza Fair, said that 2008 was a complex year for gold and jewelry, but that there was continuing strong consumer interest in key areas, including branded goods and sustainable luxury.

According to data from the National Statistics Institute, however, demand for Italian goldsmiths' exports is dropping. Total exports for the first three trimesters of 2008 (January through September) totaled 3.14 billion euros, or about $4.22 billion, a drop of 5.54 percent compared with the same period in 2007.

The United Arab Emirates remains the top recipient of Italian jewelry exports, with a 16.4 percent share of the total jewelry and goldsmiths' craft-articles exports from Italy. Switzerland is next up, with a 11.63 percent share, followed by the United States.

Though the United States was in the top three, Italian jewelry exports to the nation actually dropped for the year, falling 28.26 percent. Menarin called the trend consistent with the collapse of the American market and referenced the bankrupties of some of the United States' major jewelry retailing chains.

Exports to the United Arab Emirates, meanwhile, increased by 14.56 percent, and exports to Switzerland increased by 4.86 percent.

Rounding out the top 10 of Italy's strongest jewelry markets, exports to France, Hong Kong, Turkey and Poland all increased, while exports to the United Kingdom, Germany and Spain dropped.

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