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Fiera Di Vicenza, Dubai World Trade Centre Form Joint Venture

May 13, 2014 4:17 AM   By Fiera Di Vicenza
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Press Release: DV Global Link was formed by Fiera di Vicenza SpA and the Dubai World Trade Centre (DWTC) on May 12. This joint venture represents a historic moment and one that represents a great international vocation, during VICENZAORO Spring Event, with the attendance of the president of Fiera di Vicenza, Matteo Marzotto, the managing director Corrado Facco, director general of Dubai's Department of Tourism and Commerce Marketing and CEO of DWTC, his excellency Helal Saeed Al Marri and senior vice president of exhibition and event management of DWTC, Trixie LohMirmand.

The joint venture will begin operating as early as April 2015 with a new international event managed by Fiera di Vicenza, which will consolidate Dubai as the undisputed jewelry capital in the Persian Gulf. The agreement with DWTC aims to establish DV Global Link, based in Dubai, a super show that is dedicated to jewelry, filling a void in this sector. Thanks to the expertise of Fiera di Vicenza and VICENZAORO and prestigious collaboration with DWTC, the event will become an important international meeting in the spring, that will become the point of reference for the whole basin of the Arabic-speaking countries in the Middle East, Africa and some countries in Central and Eastern Europe and the major economies of southeastern  Asia.

This agreement represents a successful partnership, backed by  Marzotto, together with the entire board of directors, who has been the architect of a global expansion plan which increasingly defines Fiera di Vicenza as an authoritative and recognized leader in world. Marzotto said, "Today is a historical moment for Fiera di Vicenza, and, we feel, for the entire Venetian and Italian trade fair system. The agreement reached with DWTC is a decisive turning point in our company's internationalization strategy and defines a systemic union that is not just economically highly valuable, but also for its cultural interconnection with a very prestigious partner. An alliance laying a bridge between Vicenza, pearl of the gold and jewelry industry and Dubai, important world luxury showcase, adding value to Italian lifestyle as never before in one of the countries and areas with the highest potential. Presence in the United Arab Emirates significantly strengthens our role as a global event show producer, in accordance with the new Fiera di Vicenza identity; no longer just container of spaces, but a company that promotes and generates top-quality content, exporting its innovative format and know-how of excellence all over the world. Pursuing this mission, the agreement with the DWTC puts us in an absolute main player role on the global competition chessboard, generating value and promoting what's well done in Italy and Europe all over the world."

Al Marri said, "Today marks a significant milestone achievement for both the cities of Dubai and Vicenza, and between Dubai World Trade Centre and Fiera de Vicenza. The inter-region strategic intermix of visions, strengths and ambitions shall create a joint venture jewelry event in Dubai, which embodies friendship, creativity, knowledge and globalization - the precise values that Dubai and Dubai World Trade Centre have built its successes on. As Dubai fast forward its strategic efforts in achieving its Tourism Vision 2020 under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE vice president and prime minister, and ruler of Dubai, we are excited by the partnership with Fiera de Vicenza in constructing a truly global jewelry sourcing hub in Dubai, where business tourism is a vital contributor to the Vision. The new event initiative will now offer the Italian and international luxury jewelry community the most sought after entry channel into one of the world's most vibrant emerging business districts."

Following the agreement with the DWTC, Fiera di Vicenza will strengthen its position among the leading players in the world including through the development and promotion of its brand.

The agreement between Fiera di Vicenza and DWTC is placed in a macroeconomic environment that on one side sees Italy as one of the most important manufacturing districts of luxury in the world, home for the internationally renowned "Beautiful and well done," and on the other, the UAE as a country with high potential, which over the years has increased its demand for made in Italy luxury. A significant fact: in 2013 the UAE have become the first destination for Italian jewelry exports, with a market share of 20.7 percent and an increase of 30 percent compared with 2012, in a scenario that has seen total Italian sector exports grow globally both in value by 7.8 percent and amount by 2.8 percent compared with the previous year (Istat elaborations from "Studi sull'impresa" University of Verona - Vicenza office).

The two countries find in Vicenza and Dubai the respective protagonists of the intersection between supply and demand in luxury manufacturing. The Italian gold-working output is at the top of gold production, with exports amounting to approximately  $8.3 billion (EUR 6 billion) per year. Dubai is a strategic location, the key center of world luxury in a system that, thanks to recent infrastructure development, is accommodating 10 million tourists a year, with a Tourism Vision 2020 of welcoming 20 million visitors by the turn of the next decade.

In this context, Fiera di Vicenza and DWTC represent two catalysts and a worldwide business hub, whose joint venture opens a new chapter in the global jewelry sector. The establishment of a new company, DV Global Link, creates a real bridge between East and West, between Europe and the UAE, between brand awareness of the company from Vicenza -- in terms of design, innovation, manufacturing and B2B - and the strategic position of DWTC, reference leader in the UAE for the organization and management of fair Events in many key sectors of the global economy.

Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
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