What is the general picture regarding the Italian jewelry market situation and the various segments of the industry before and after Covid? The data relating to the first four months of 2020, processed for Federorafi by Confindustria Moda’s Study Center, show a record drop of more than -30% in exports after the first two months closed with a highly positive trend (+23%) carried over from 2019. Covid, Italy’s lockdown, the restrictions in movement towards the countries of interest, by closures still in effect in various parts of the world, by the cancellation of all trade shows from February to August, record raw material prices and further costs deriving from having to introduce the necessary safety measures on company premises are still worrying. And a recent Confindustria survey showed how applying sanitary protocols has led companies to face an average increase of Euro 125 in monthly costs per employee.
What strategies have been enacted to prioritize the recovery? As we know, the jewelry sector has already invested in this front with “The Extraordinary Italian Jewelry” initiative with ICE Agenzia and with “Beauty Continues” with IEG/Vicenzaoro and we are therefore confident of having further resources to strengthen it. At the same time, we have to focus on initiatives aimed at business, and here I would underline the requests made regarding derogations to strengthen agreements with USA large scale retail which, prior to Covid, had produced measurable results for hundreds of jewelry companies, as well as to the need to help companies to take part in international trade shows in Italy and abroad. I therefore hope that the green light will soon be given to extend the application of SIMEST -SACE instruments (Italian export insurance and funding services).
How important might physical business events be? On this point, I must point out that our sector has been particularly farsighted having punctually agreed with IEG/Vicenzaoro on a different strategy compared to other Made in Italy sectors by launching the VOICE event which, in ensuring at affordable costs, a physical business platform for companies, will also be experimenting new communication formulas. As regards the foreign markets, we are focusing on continental China with “The Extraordinary Italian Jewelry” project, organized by Federorafi with ICE Agenzia, to be held at the China International Import Expo in Shanghai (CIIE) in November. Over 60 companies have subscribed so it promises to be the most significant Italian jewelry participation ever organized in China.
«Our sector has been particularly farsighted having punctually agreed with IEG/Vicenzaoro on a different strategy compared to other Made in Italy sectors by launching the VOICE event which, in ensuring, at affordable costs, a physical business platform for companies, will also be experimenting new communication formulas»