By Cynthia Unninayar

The first event in the VicenzaOro trilogy of trade fairs held in the historic Italian city of Vicenza opened its doors amid a general feeling of optimism for the sector and an ambitious program of new initiatives and major enhancements for the Italian jewellery industry.

The international gold, gems, jewellery, and related equipment event at VicenzaOro First ended on a positive note with a record 19,000 first-time admissions and an 8-percent increase in foreign buyers plus an increase of 2.5 percent in Italian buyers over last year, who came to see the products of 1488 exhibitors from Italy and 30 foreign nations. Fair officials had more to be happy about than the increased participation of prospective buyers, and announced a number of initiatives aimed at helping the Italian jewellery industry, explaining, “with markets changing, the Italian jewellery sector must orient itself towards new directions. Craftsmanship, manufacturing, innovation, and new communication make up the competitive edge of the ‘Made in Italy’ label, representing the added values of Italian jewellery that will serve as a springboard for launching such excellence throughout the world.”

FDV 2011/15

The major change announced by the fair was a five-year strategy, called FDV 2011/15, whose goals are “consolidating the fair’s identity and focusing on the very essence of Italian jewellery, made of fine craftsmanship and research, renewing its own exhibition concept, and launching new initiatives with the intention of bringing excellent ‘Made in Italy’ products to markets worldwide.

This ambitious plan is intended to confirm Fiera di Vicenza as not only a central element of the worldwide exhibition system with particular reference to the jewellery sector, but also as a place of aggregation for Italian excellence and as a generator of cultural contents, ideas, and visions capable of offering creative thrusts to businesses.”

It is no secret that over the last few years, the Italian (and global) jewellery sector has suffered, mostly due to a drop in demand and an increase in the cost of gold. Encouraging signs of recovery for Italian jewellery exports came in 2010, and the trend seems to be continuing in 2011. To take advantage of this trend, the FDV 2011/15 project will focus on the overall renovation of the exhibition space, a powerful web presence, important collateral events, the creation of a real reference network, and the establishment of new infrastructures and fair formats aimed at specific market segments. “A change of route is necessary for a sector in profound evolution whose key words are coherence and concreteness,” stated Fiera di Vicenza chairman, Roberto Ditri.

Corrado Facco, the fair director added, “Our aim is to become the main point of reference in Europe for jewellery alongside Basel and at the same time back up the fair events with initiatives that animate and stimulate the companies and the town: shows, events, and installations to involve the surrounding territory as is the case in the most modern fair events all over the world.”

Another element in the fair’s future activities is its active collaboration with international organizations such as the United Nations Institute for Training and Research, CIBJO, and the Responsible Jewellery Council to promote corporate social responsibility and ethical mining and manufacture. “The guarantee of ethics along the entire supply line is a specific request of consumers, representing a strong element of the marketing mix and a fundamental competitive edge,” said fair organizers.

Design Directions

The Nature theme was one of the main trends at this year’s fair, with snakes, butterflies, flowers, leaves, and the marine environment playing key roles. Colour was again prominent, continuing its trend in both gemstones and enamel, along with various colours of gold. Diamond jewellery, both white and fancy colours, remains a staple of Italian creativity, while silver has become the “new gold” as its glacial tonality is used to create elegant and fashionable designs. Freeform, organic, and textured looks continues to gain ground while rough stones, both diamonds and coloured gems, namely sapphires and emeralds, evoke a return to the natural environment. Lacy openwork pieces were seen in many collections, offering impressive pieces with lighter weights of precious metals.

Ownership Changes

Richline Group, Inc., a wholly-owned subsidiary of USA-based Berkshire Hathaway Inc., announced the acquisition of Arezzo-based Rosato Srl. “This is a great opportunity for my brand to grow and expand globally. I am sure we will be able to let the real Italian jewellery design be known and appreciated,” stated Simona Rosato. Richline president, Dave Meleski, added, “Simona Rosato and her team are the most innovative group in Italy and, with our financial support, they will be able to again focus on product and brand innovation. Rosato will once again excite the market and enable their loyal customers to expand their own market share.”

On another note, Gitanjali Gems Ltd, India’s largest jewellery retailer, which had purchased Italian brand Valente Milano last September, announced the acquisition of a 90-percent stake in Milan-based Giantti Italia S.R.L., through its Dubai-based wholly owned subsidiary Gitanjali Ventures DMCC. Its press release also indicated that it would “pay about $11 million for the Italian brands Stefan Hafner, IO Si, Porrati, and Nouvelle Bague grouped under the BLU Srl umbrella, with funds going to their creditors, and would inject another $10 million over a year into the companies. The brands were previously owned by now bankrupt DIT Group, a unit of Dubai debt-laden jewellery group Damas International.”

Gem World and Glamroom

Now staple components of the VicenzaOro scene, the two sections of Gem World and Glamroom grouped together gem dealers and jewellery designers, respectively, who showcased a wide variety of products. Among the many interesting Glamroom participants was returning German brand Bastian, offering a selection of modern silver creations set with diamonds, and Italian brand EcoJewel showcasing pieces made from enamel and precious, recycled materials (gold and silver from old jewellery and manufacturing scraps). This year, EcoJewel also featured elegant jewellery made from recycled gems taken from jewellery that was destined to be melted or dismantled—a perfect match for the brand’s recycled gold and silver.

Vicenza will again be in the global spotlight for fine jewellery at its spring fair, May 21 to 25, 2011.

www.vicenzafiera.it