New Challenges, New Successes

During these trade show days, Donald Trump has taken back the keys to the White House and with them, the reins of a government that will soon be communicating its new trade policies. In all likelihood, the effects of this change of top management across the ocean will be talked about considerably in nine months’ time at the next edition of Vicenzaoro September, and the reason is clear: the United States has always absorbed a large part of our exports and any change in terms of tariffs could alter the current scenario, which on Saturday, was widely analyzed during a meeting organized by Club degli Orafi Italy and Intesa Sanpaolo’s Research Department, dedicated precisely to the opportunities and challenges for Italian jewelry companies in the American market. Moderated by Laura Biason, Director General of the Club, Filippo Fusaro, Director of ITA Houston, gave an initial speech which was followed by a presentation on the macroeconomic scenario and precious metal prices by Daniela Corsini, Senior Economist in charge of commodity research at Intesa Sanpaolo's Research Department. Stefania Trenti, Head of Industry and Local Economies Research at Intesa Sanpaolo's Research Department, on the other hand, explained the recent performance and positioning of Italian companies in the U.S. The event then closed with Licia Mattioli, CEO of Mattioli Spa, who illustrated the point of view of a company heavily involved in that particular market. But let's go in order. With the record figure of 9.8 billion euros, or +44.5% in value, in the first nine months of 2024, the primacy of the Old Continent's largest jewelry exporter is all Italian. And outside Europe's borders, the scenario is just as much in our favor after having recorded a marked strengthening towards other markets as well. In this respect, the United States played an important leading role, accounting for a good slice of that 11% increase in global gold jewelry exports in 2023, making Italy its second largest partner, after India, with a 14% share of U.S. gold jewelry imports, up from the 7.3% of 2009. Nevertheless, in the first nine months of 2024, Italian exports to the U.S. slowed down (-8.1% for gold jewelry) due to Indian and French competition in a context characterized by the high uncertainty created by the U.S. election campaign. Now that the new administration has taken office, however, and while waiting to see what will happen, this survey of Italian sector operators shows good responsiveness on the part of the Italian production fabric: 38% of companies are considering looking for new customers in other markets and revising prices for the U.S. market. Leaving aside the economic picture and talking about the more creative side of the gold-jewelry sector, at the Golden Talk on the opening day, addressed to the over 600 students from Vicenza and its province, it emerged that talent and ambition are sustaining businesses and making them grow, while technology is causing the sector to be innovative and competitive. To appreciate this latest “X Factor,” one need only visit Hall 9, "house" of T.Gold, where 167 companies from 16 countries are exhibiting, which, during these days, is hosting the supply chain’s high-tech community and which yesterday, saw a true full immersion in this sense, a permanent fixture for 20 years. We are talking about JTF, the Jewellery Technology Forum, organized by Legor Group in collaboration with IEG, with seven speeches on seven focal themes, starting from the best-performing precious metal alloys to internal processes to embark on a sustainable production path.

Instead, yesterday afternoon, awarding the most virtuous designers and companies, and in particular the younger ones, who have put their creativity at the service of sustainability, was Progold - a key player in the production of semi-finished jewelry through direct 3D printing in precious metal - promoter of the PROGOL3D Design Contest, an international competition in which the best talents from the world's most renowned jewelry design schools compete each year.

A unique opportunity for young creatives to engage with the most advanced technologies, showcase their ideas and get to know the industry’s most appreciated luxury brands. Lastly, the next hyper-technological project organized by IEGbears the signature of Legor and Progold: The Vicenza Symposium, which, in September, will assemble top international experts from both the gold-jewelry and fashion sectors in the Basilica Palladiana.