Vicenz
aoro Winter 2014 Generates Positive Results Additional inputs from JewelleryOutlook.com
Le Vian s Couture Strawberry N Vanilla pendant set with Vanilla Diamonds in 18-karat Strawberry Gold. Business was brisk on the show floor of Vicenzaoro Winter held from Feb 18 to 23, 2014 that featured around 1,500 jewellery brands, nine pavilions spread over 26,000 sq m. Another 123 exhibitors showcased machinery and applied technologies for the gold and jewellery industries at T Gold show. Around 30,000 visitors attended the prestigious event that saw a 6% growth in foreign buyers, especially from the European Union, Turkey, Russia, the Middle East, the Americas, Asia ( Japan, Hong Kong and China). The number of Italian visitors at the show also registered a slight increase this year. We are extremely happy with the results of this edition of Vicenzaoro Winter 2014, said Matteo Marzotto, president of Fiera di Vicenza. And going back to the claims of the event Ecosystem Italy. 'The Future. Now.' the figures have confirmed that the possibility for positive change in the future is here in the present, and Vicenzaoro has shown itself to be a great and solid opportunity to make the most of this. It is not just a question of figures: during the show, the atmosphere in the pavilions has been one of realistic optimism and well-grounded faith. Buyers, public and media have all appreciated the best expression of Well Done in Italy. The increased number of exhibitors and buyers from overseas shows that our route taken is key to the positioning and internationalisation that we are aiming for in 2014, with a schedule that will see us at 20 events worldwide, Corrado Facco, managing director of Fiera di Vicenza pointed out. The jewellery industry economy is currently moved by export markets and specifically, those outside Europe, which is why increased numbers of Russian-speaking operators and from the UAE, Gulf and Americas to the show is a great satisfaction for us. Vicenzaoro has confirmed its status as a global glamorous event. According to a report by Jewellery Outlook, Footfall was strong on the opening day of Vicenzaoro Winter, the 74 solitaire INTERNATIONAL february 2014
first major international jewellery trade fair of the year and a barometer of the health of the global jewellery industry. According to the latest figures made available by Vicenza fair, Italian jewellery exports recorded an increase in value terms of 6.9%, and a drop in terms of quantity of 1.4%, in the first nine months of 2013. Vicenza Fair noted that the increase in value of Italian jewellery exports coincided with a period when gold prices fell. The increase in the value of exports is particularly noteworthy, taking into consideration the fact that gold prices were falling sharply during the nine-month period, Vicenza Fair said in a statement. These data show that Italian exports, even if experiencing a drop in quantity, can be placed in markets characterised by high added value. The United Arab Emirates is the top export market for Italian gold and silver jewellery, followed by Switzerland. New ideas, new lines Jeweller Fope introduced creations that combined the strength of gold and the energy of the silver and palladium alloy. Two new collections, in gold and in Silverfope, were presented at the show. The high-end collection, Wild Rose whose sharp designs blended with the signature touch of Fope s Flex'it brand. The line showcased craftsmanship and automation, research and ingenuity. The Wild Rose collection presents a new interpretation of the exclusive patented system that makes gold mesh flexible and presents customers with wonderful jewels, states the company press release. The new Ice collection in Silverfope is crafted with exclusive silver and palladium alloy. A Fope spokesperson told Solitaire International that the firm was quite satisfied with the outcome of the show. She added, There were many visitors who placed orders. Most of them are already our customers and know about our inventory, but they were also positively impressed by the novelties we presented, The Wild Rose, in particular. Italian buyers looked more confident and opted for some of our best-sellers such as flexible bracelets in 18-karat gold and necklace sets in the range of 2,000 to 3,000 at retail price. We also got a big client from East Europe and the deal should hopefully materialise soon. Since we received good feedback for our new lines, we will go ahead and develop them further and officially launch them in Baselworld to a much wider crowd. Detailed openwork incorporated in lightweight jewellery was the highlight of My Vice that presented some novel lines this time. The Cherie Collection consisting of necklaces and matching earrings was available in shades of yellow, white and rose gold. The new bracelets, worn individually or all at once, in white, yellow and rose gold, featured innovative minute surfaces that were finely decorated with exclusive patterns on both sides. Andrea Calgaro, sales director of Cenzi Vittorio Srl, informed Solitaire International, Vicenzaoro Winter in January is the most important show in terms of purchase planning. Typically, our A gold link necklace by My Vice. Le Vian Couture Gladiator Weave Neon Green Tourmaline ring crafted in 18-karat two-tone gold, and set with Vanilla Diamonds. Rosato presented silver and 18-karat gold plated charms at the fair. 18-karat gold-plated silver collar accented with white cubic zirconia, rock crystal and smoky quartz from the Pienza collection by Misis. solitaire INTERNATIONAL february 2014 75
The Wild Rose rings by Fope. 18-karat yellow gold ring set with lemon quartz by Tous. Bracelet with cultured freshwater pearls with an 18-karat yellow gold bear by Tous. Le Vian Chocolatier Gladiator Weave ring set with Chocolate Diamonds and Vanilla Diamonds set in 14-karat Strawberry Gold. market is international rather than domestic and we have had confirmation even from new buyers that we are on the right track as far our lines and their perceived value is regarded. This is very encouraging for us to continue offering easy-to-wear gold jewellery for every occasion. This time, we met not only our regular clients, but also new customers. The prospects are interesting and we can proudly say that we met our expectation, as our visitors appreciated the new creations reproduced under our distinctive brand identity entitled My Vice. Misis, a couture brand, had several enticing collections woven around a central theme, Postcards From Italy. The various collections focussed on celebrating the beauty of the enchanting landscapes of Asolo, Volterra, Pienza, Positano, Gallipoli and Taormina. The showstopper at Le Vian Collections situated in a grand salon in Pavilion F was a pair of evening shoes worth $2 million and was encrusted with 185 carats of very rare, museum-quality Blueberry Tanzanite, painstakingly matched and re-cut into a graduated parure by Le Vian Couture master craftsmen in 18-karat Vanilla Gold with 28 carats of VS Vanilla Diamonds. In an email interview to Solitaire International, Eddie LeVian, designer and CEO of the Le Vian Group, informed, Le Vian was a big hit at the fair. The Vicenzaoro show has traditionally been positioned as the event that buyers from around the world come to find innovation from Italian manufacturers, who have traditionally held the position of innovators in fine jewellery. However, with the advent of the deep recession that has struck Italy and Europe in the last few years, most Italian manufacturers have not had budgets to spend on new product development. As such, Le Vian felt that it would be a mutually beneficial relationship for Le Vian to bring its 40,000 new designs a year and its trend forecast to Vicenza, in order to keep the interest of the international buyers who come looking for trends and in turn, Le Vian would benefit from meeting the international buying community, as part of its goals to expand the brand internationally. Buyers from Europe, Russia and the former republics, the Middle East and Asia as well as the Americas appreciated Le Vian s new collections. The Le Vian brand, and our spring trend forecast and new collections received rave reviews from buyers and press alike, LeVian said, adding, Buyers representing 1,400 locations met with Le Vian and selected assortments for launch in 2014. According to Jewellery Outlook, Le Vian announced that Chocolate Quartz was "Gem of the Year" in 2014. This delicious quartz brings the flavour of Le Vian Chocolatier to a new level with its high clarity and lustre plus big and bold chocolate flavour exquisitely revealed through Le Vian's proprietary gem cuts. 76 solitaire INTERNATIONAL february 2014
He also added that cushion shapes were trending in 2014. Paola de Luca, creative director of Trendvision Jewellery + Forecasting, pointed out design themes for Spring- Summer 2014, including the impact of digital technology on design, Jewellery Outlook reported. De Luca said that the digital age had ignited a trend for coloured metals and electric colours. She referred to the Pixel effect - a blaze of powerful colours in cutting-edge designs. "The new aesthetic sits on the intersection between the virtual and the physical, exploring the physical language of the technology," De Luca said. Jewellery designer Sarah Ho, who was showcasing a new line of jewellery for Valenza-based ititoli at Vicenzaoro Winter, told Jewellery Outlook that the new technologies were an essential element inspiring jewellery designs in 2014. She was referring to technologies such as augmented reality. The Diamond XL line of ititoli incorporates a patent which gives the visual impression via a mirror that a diamond is larger than it is in reality, which boosts the perceived value of the diamond. UK-based designer Rodney Rayner introduced a different colour version in 18-karat rose gold set with peach colour faceted moonstones and champagne diamonds. We have also introduced new pieces in rose gold set with faceted moonstones and icy and white diamonds, he told Jewellery Outlook. Rosa Tous, corporate vice-president of Tous Jewellery told Solitaire International about its exciting debut at Vicenzaoro this year. We have previously come here as visitors but our first time as exhibitors was very exciting for us. Tous is a company with a jewellery heritage and Vicenzaoro is one of the most prestigious jewellery fairs in the world. We showcased all our product ranges to give our visitors a glimpse of our unique concept and brand image as a multi-category brand. Tous is present in 40 countries and growing, but we are always looking for new ways to grow our business, including entry into new international markets and further expansion in our current sales channels. The show offered us a great opportunity to meet new partners, and allowed us the opportunity to explain our brand s success story and present our collections to many different nationalities. To see the enthusiasm and positive reactions we are generating worldwide surpassed our expectations. I am pleased to say that the reaction we have received to all our ranges, jewellery, leather goods, fragrances, watches, eyewear, and complements, has been truly amazing and our icon, the Tous bear, which perfectly reflects our brand values warmhearted and fun for people with a young spirit generated lots of interest. Rosato, too, performed well at the show both in terms of domestic and international markets, a spokesperson of the firm told Solitaire International. At this fair, we met excellent strategic partners in new markets like Saudi Arabia, Portugal, the USA, Switzerland and Korea. The Italian buyers were mostly interested in silver collections, due to the affordable price range as it allows the end customers to purchase a piece of high quality jewellery without spending a fortune on it. During this period of economic uncertainty such products help to satisfy the intrinsic aesthetic need, she said, adding, In terms of product, we presented the St. Valentine s limited edition a solitaire enclosed in a treasure chest. This miniature caught the attention of all visitors due to the high quality of materials, without being priced with a premium price. The next show, Vicenzaoro Spring will be held from May 10-13, 2014. A trendy, textured necklace by Daniel Espinosa. Contemporary bracelets in white, rose and yellow gold by My Vice. 18-karat gold-plated silver earrings with enamel and cubic zirconia from the Positano collection by Misis. solitaire INTERNATIONAL february 2014 77
Conflict Mineral Legislation On the sidelines, a blue-ribbon panel of experts at the Vicenzaoro Winter discussed what may be a gathering storm for the gold jewellery industry, brought upon by legislative processes targeting minerals from conflict areas in the Great Lakes region of Africa. They were participating in a seminar at the Vicenzaoro Winter trade fair, entitled Conflict mineral legislation in the Europe and the United States: How it impacts upon both the domestic and export jewellery business. It was hosted by Fiera di Vicenza; CIBJO, the World Jewellery Confederation; the Responsible Jewellery Council; and Confindustria Federorafi. Presented by Corrado Facco, managing director of Fiera di Vicenza, and Gaetano Cavalieri, president of CIBJO, the seminar panellists included Marieke van der Mijn, standards coordinator at the Responsible Jewellery Council; Michael Allchin, chief executive and assay master at the Birmingham Assay Office and the president of the CIBJO Precious Metals Commission; Philip Olden, who is responsible for managing the development and implementation of responsible sourcing protocols for gold at Signet, the world s largest speciality jewellery retailer; Marco Falezza, jewellery operations director of Gucci Group, who represented Confindustria Federorafi; and Maria Benedetta Francesconi of the Italian Ministry of Economic Development. The moderator was Simon Brooke, a British journalist. The first of the two specific pieces of legislation under the spotlight was Section 1502 of Dodd-Frank Act in the United States. Signed into law in 2010, it is a disclosure requirement that requires publicly traded companies to determine whether their products contain conflict minerals and conduct inquiries into country of origin of those minerals. Starting, this year, they need to make formal disclosures to the Securities and Exchange Commission (SEC). Similar legislation is pending in the European Union. In Brussels, the European Commission s Directorate-General for Trade is currently putting the final touches to a legislative proposal on conflict minerals that may parallel Dodd-Frank, though it intends to build on international initiatives like the OECD Due Diligence Guidance. What this means is that quite a significant percentage of the jewellery traded in the United States will end up in the display cases of publicly traded companies, who according to Dodd- Frank need to monitor their supply chain. In other words, if you export or are looking to export to the United States, it is more than likely that, ultimately, Dodd-Frank will matter to you, noted Corrado Facco, in his opening address to the seminar. The pervasiveness of Dodd-Frank was confirmed by Philip Olden, who noted that as a publicly traded company, Signet is obliged to ensure that any company from which it buys jewellery has itself introduced a due diligence system by which it can accurately trace the origin of the gold. Signet, he noted, has developed a detailed set of protocols according to which its clients are obliged to operate. If you are not able to demonstrate that you can meet our requirements, we will not be able to buy from you, he said. The critical juncture for due diligence in the supply chain is the gold refineries, said Marieke van der Mijn. She noted that RJC has been working collaboratively to institute an internationally acceptable due diligence system that demonstrates that the refined gold they produce is conflict-free. She also disputed the notion that supply chain assurance was a luxury available only to larger companies, noting that 40% of RJC s members are small and medium-sized enterprises. While having been consulted by both the British government and the European Union during the process of developing an EU conflict minerals legislation, Michael Allchin still questioned whether a legislative initiative was justified, and whether voluntary systems being adopted by industry, like the OECD Due Diligence Guidance, would be more efficient. The truth is that easiest route to compliance today is not to buy gold from Africa s Great Lakes region, but the damage that is being done to local communities, many of which do not have alternative means of a livelihood, is devastating and often counterproductive, he stated. In its efforts to ensure that its supply chain remains free of conflict minerals, Gucci took a somewhat different approach to companies like Signet, recounted Marco Falezza. Instead of requiring that its clients demonstrate that they had shown due diligence in ensuring the origin of the gold, Gucci acquired the gold itself, after examining the sources of the material, and then provided the materials to those companies that produce jewellery for it. Speaking on behalf of the Italian government, Maria Benedetta Francesconi addressed the difficulties faced by the small and medium sized enterprises that make up the bulk of the local jewellery sector. There are real cost factors involved, she stated, and the task of verifying the movement of gold through the pipeline is certainly not a simple one. My concern, which is one that I feel strongly needs to be addressed, is that by placing another substantial burden upon the industry we are again raising the bar of entry. We have to develop systems by which all participants in this industry are reasonably able to meet the requirements of due diligence. It is already difficult enough for young entrepreneurs to gain a foothold in the business. We do not want to create artificial obstacles that are too high to climb, or prevent less established companies from gaining entry into certain markets or market sectors. Above all we need to consider the commitment we have as members of a responsible business community to society, stated Gaetano Cavalieri, in an address that concluded the seminar. If the end result of conflict minerals legislation is that, as a rule of thumb, companies avoid trading with the central African gold producers because it is the easiest way to achieve compliance, then we may have avoided doing the wrong thing, but we certainly did not do the right thing. The seminar was opened by Fiera di Vicenza s new president Matteo Marzotto, who noted his organisation s commitment to serving both the Italian and international jewellery sectors. 78 solitaire INTERNATIONAL february 2014