RAPAPORT... Reclaiming its original name, Vicenzaoro finished a five-day run on May 26. The show’s second edition, formerly known as Charm, fulfilled its stated mission of presenting a wide and diverse selection of Italian jewelry to a growing international audience, showcasing products from more than 1,300 firms, 72 percent of them Italian. High-end diamond-and-gemstone jewelry was featured, as well as mass-volume gold and silver, beads, findings and mountings.
Overall, the mood was cautiously optimistic, and firms reported seeing customers from many points in Europe, Russia and Asia. The American presence, however, was limited, as manufacturers had anticipated. The big U.S. stores did their shopping in Basel and the rest are expected to buy at JCK Las Vegas.
Tapping Europe
Despite the continued Italian presence in Las Vegas, a number of high-end suppliers said they have pulled back from this market due to a number of factors, including the economic downturn and the steadily escalating price of gold. “We will not be coming to Las Vegas this year,” said Chiara Narratone, area manager for Pasquale Bruni, Milan. “For now, we will be downplaying America for awhile.” Roberto Zanarini, Centoventuno, Bologna, concurred. “We used to do Las Vegas but the euro made prices too high and the Americans bought from China.”
Pierre Bellon, chairman of Bellon, Valence, France, also noted that his U.S. business was weak. “I am pulling back from the U.S. for now and going for high-volume outlets in Europe,” he said. The company’s popularly priced fashion line of colored gemstones and gold with diamond accents has been very strong in France’s Leclerc Hypermarket and has also been purchased by a TV shopping channel in Japan.
According to Roberto Ditri,Vicenzaoro’s new president, Italian goldsmiths are poised for a slight upswing in sales, although they are not out of the woods yet. Government figures reveal that jewelry sales for the first quarter of 2010 showed a 9.2 percent increase in terms of value, mainly attributed to the rising price of gold. In quantity, however, sales were lower by about 5 percent.
Due to the ongoing economic turmoil in world markets, the Italian jewelry sector, while relatively unchanged for years, has undergone marked shifts. Consolidations, mergers, buyouts and bankruptcies are more common here than ever before. In fact, there were a number of notable brands that were not to be found at this fair, fueling speculation that they might have closed down.
Diamonds on Display
Though most exhibitors said they had already unveiled their latest collections in Basel, there were a number of tempting offerings, particularly in the categories of diamonds, gold and pearls. For example, the highly individual collection of Mattia Cielo, Vicenza, highlighted combinations of white and pink gold with diamonds in intricately engineered bracelets, rings and earrings that conform to the shape and movement of the body. Some bold rings were adjustable, allowing retailers to sell them without concern for sizing.
“Our most popular designs are everyday pieces with diamonds that sell for $4,000 to $10,000 retail,” said Stefano Staurino, principal of the Valenza firm that bears his family name. Some flexible all-diamond rings using G to H color and VS to VVGS clarity diamonds are easily adjustable to the finger. Staurino said his company plans to highlight these and other new pieces at JCK Las Vegas.
Offering a lower-priced boutique collection is a solution embraced by a number of jewelers now that money is tight. “Our main business is diamonds, but we add some color for fashion appeal,” explained Mario Petroncelli, marketing manager of Ponte Vecchio Gioielli, Florence. One of the company’s new collections uses different shapes and sizes of diamonds to create a bold, sculptural look. Diamonds of G color, VS clarity are used in finely engineered settings whose elements move with the action of the body. The company has also introduced some new designs that are smaller in size and lower in price, but nevertheless similar in quality to the company’s signature collection.
Gavello, Milan, known for its bold, organic designs encrusted with pavé diamonds, has unveiled two new offerings. Classic looks have been restyled with black and brown diamonds contrasted with white, as well as with colorful rubies, pink sapphires and diamonds in gradient “shadow” designs. Another sportier collection of 9-karat gold and sterling silver is being aimed at a younger market.
Article from the Rapaport Magazine - June 2010. To subscribe click here.