Vicenzaoro Highlights, January 2026: Metrics for Tomorrow

Normalization. In these rather difficult times, let’s start with a reassuring word that leads us to look more rationally at figures that clearly show a slowdown in both the national and global jewelry markets. To reach this “soft zone” and better understand why, here are some figures released during the first two days of Vicenzaoro at events organized by Club degli Orafi Italia in collaboration with Intesa Sanpaolo. Point one. After years of considerable growth following the Covid-19 pandemic, the Italian jewelry industry is now facing a sharp slowdown, with a 5.1% decline in jewelry and costume jewelry turnover and a 12.8% drop in production in the first ten months of 2025. This slowdown reflects an 18.2% contraction in global demand for gold jewelry, mainly due to the high price of gold and other precious metals, with declines of over 25% in India and China. More specifically, in the January–September period, Italian gold jewelry exports amounted to €8.1 billion, down 16.9% in value and 29.4% in quantity. However, if we consider that one of the reasons behind these ups and downs over the last 24 months was the explosion of the Turkish phenomenon — with record peaks in demand rising to +550%, followed by a sharp decline (-52.4%) — everything takes on a different meaning. Normalization, to be exact. And now we come to “point two.” Despite the minus sign, Turkey remained the leading export market in 2025, with a 12% share in volume and 21% in value. Other destinations worth highlighting include the United Arab Emirates, which recorded growth of 13.7%, and Switzerland which, with an impressive +20.2%, ranked as the second-largest market in 2025. The invitation is to interpret the -17% figure for the United States in light of the geopolitical context we are well aware of, which may be sufficient to justify this trend. Overall — and this is what we must keep in mind — the Italian gold districts are holding up well, with Vicenza growing by +6% and Valenza even reaching double digits at +19%. In fact, according to research by Club degli Orafi and Intesa Sanpaolo, one in five companies already forecasts growth prospects for the year that has just begun. As for the Arezzo district, gold prices continue to be the main factor behind the 32% decline, as this area has historically focused on purely gold production. In light of all this, we can look at the overall picture with a different approach and sentiment. Vicenzaoro also serves this purpose, providing a valuable opportunity for discussion with colleagues and experts, helping to raise awareness of the historical moment we are experiencing on a global scale. This is further enhanced by a packed program of updates on everything related to the industry’s culture, with seminars and talks organized by IEG Italian Exhibition Group in collaboration with long-standing partners. Examples include the seven seminars organized ad hoc by Cibjo and several meetings in the Jewellery Industry Voices series, as part of a training and sustainability initiative recognized by the United Nations Economic and Social Council (ECOSOC). And if jewelry is discussed in these terms even within the UN’s “glass palace,” Vicenzaoro truly stands at the center of the world.