MAN ON THE MOVE - Attendance at Vicenza September fair surpasses pre-pandemic levels

14 Sep 2022

A surge of visitors to the September 9-13 edition of the Vicenza gold jewellery fair, surpassing pre-pandemic levels, signalled strong orders for diamond, gemstone-set, gold and silver jewellery at Italy’s leading trade show.

Foreign visitor numbers were up 20 percent compared to 2019, before Covid, organisers said. Total visitor numbers, including Italian attendees, were up 10 percent versus 2019. Over half of the total attendance was international (51 percent), from 124 countries.

Vicenzaoro, which takes place twice a year in the industrial fairgrounds of Vicenza in northeast Italy, is a major conduit for Italian precious jewellery exports. Italian gold and silver jewellery exports were up 36.5 percent to just under 4 billion euros year-on-year in the first five months of 2022, with the United States maintaining its position as the number 1 export market, according to figures from goldsmiths’ group Federorafi. Exports to the United States rose in the period by 24.9 percent (an increase of 115 million euros.) Switzerland and the United Arab Emirates were the second and third export destinations by value, respectively. Giorgio Villa, who heads Italian goldsmiths' group Club degli Orafi, told NAJ that increasing consumer tastes for branded fine jewellery, including diamond jewellery, contributed to the increase in exports.

Exhibitor feedback

“WOLF has had a very positive show at Vicenzaoro. We have opened with new retail partners from all over the world and have received lots of attention,” said Emma-Louise Gregory, European Sales Director of WOLF.

“Our WOLF X Bea Bongiasca bespoke safe attracted key jewellery influencers and bloggers such as Laura Inghirami (@donna.jewel) to the WOLF stand, where we shared with them our wide range of jewellery boxes, travel cases, watch winders and watch boxes alongside our new accessory collections.

“Being here at Vicenzaoro with the team has been a very exciting start to my career with WOLF and I am excited for what the future holds.”

Andy Maine, director of jewellery supplier Ania Haie, said: “The Vicenza show was amazing. We opened new accounts across Europe and had some great new contacts to follow up. The show attracts buyers from around the world -- and it is so great to feel the buzz back at trade shows now buyers are travelling again. We look forward to doing January Vicenzaoro to see existing customers and so many new customers.”

Lab-grown diamonds

Laboratory-grown diamonds appeared more prevalent in the exhibitor stands than in previous editions of Vicenzaoro, notably in the Indian pavilion in Hall 2.1. New manufacturing capacity of lab-grown diamonds (LGD) has been sprouting in Surat in response to growing demand in the US and European markets for the synthetic stones. Rebecca Foerster, Boston-based CEO of Hearts on Fire, told a panel session that around one in four engagement rings presently sold in the United States feature lab-grown diamonds. Squeezed real incomes at a time of rising inflation have heightened the appeal of lab-grown diamond jewellery, offered at affordable prices. LGD prices have fallen lately due to increasing supply, trade sources said. Manufacturers exhibiting in the Indian pavilion spoke of a shift to more lightweight gold jewellery designs due to high prices of the yellow metal, with more production moving to 9-ct gold instead of 18-ct. In the middle market, some manufacturers were turning to coloured gemstones instead of natural diamonds, notably to so-called semi-precious stones, such as blue topaz and tourmalines, in order to keep price points accessible.

Pratik Shah of Core Jewellery, which recently exhibited at the Jewellery Show in London, spoke of resilient demand for Baguette diamond jewellery, while Tej Singh of Gosil Exports said white sapphires were being used sometimes instead of natural white diamonds, whose prices have risen firmly.

Trends

Jewellery analyst Paola De Luca, in a trends presentation, spoke of the rising popularity of what she termed an "explosion of colour" in designs. Green stones, symbolic of nature, such as malachite were much sought-after in silver jewellery at the lower end of the market, where consumers' budgets were under most pressure from the cost of living crisis impacted by Russia's invasion of Ukraine.

Design awards The fair presented a variety of panel presentations including one to introduce the 18th edition of the HRD Antwerp jewellery design awards, featuring separate categories in diamonds, gemstones and accessories. The contest, whose theme this year is Peace, is open to jewellery designers from around the world, who should submit entries via www.hrddesignawards.com by October 15.

The winners will be announced at the next edition of Vicenzaoro in January 2023.

Source: David Brough (Jewellery Outlook)