Vicenzaoro Highlights, September 2025: New Market Strategies
Vicenzaoro spotlights future challenges and opportunities for Made-in-Italy jewelry. Between new export routes, declining global demand and emerging consumer trends, the need for a tailored approach
At Vicenzaoro September, the now customary event organized by Club degli Orafi and Intesa Sanpaolo revealed the global market’s export numbers. “The Future of Export Routes” report, compiled by the latter's Research Department, showed a slowdown for the Italian jewelry sector compared to the good results of recent years. To be more precise, in the January-June period, turnover, including the costume jewelry sector, revealed a -2.7% decline which began in April and continued to widen the gap compared to production, which fell by -10.7% in the first six months of the year. The reason, according to the experts at the meeting, regards an international context affected by a reduction in global demand for gold jewelry, which in the first half of 2025 stood at 724 tons, a decrease of over 150 tons compared to the first half of 2024 (-17.6%). This decline was most significant in the Indian (-16.7%) and Chinese (-19.9%) markets, which are particularly sensitive to gold price trends.
Looking at the country that drove record exports in 2024, namely Turkey – a record generated by an increase in domestic tariffs that made it much cheaper to source semi-finished products from abroad – the situation now appears to have “normalized”, a rebound effect that has, however, led to a significant overall 42% decline in exports.
In short, in the first five months of 2025, gold jewelry exports amounted to €5.2 billion, down 16.8% in value and 19.4% in volume. Excluding Turkey's contribution, growth was still 2% in value and stable in volume (+0.3%).
A highly predictable overseas decline in view of the much-discussed tariffs that have led to a 24% drop in exports to the US, despite which Italian companies still managed to put €363 million in their tills.
18% and 20% increases in exports to the United Arab Emirates and Switzerland respectively complete the outgoing flow picture.
The day came to a close with a focus on the UK market, organized by Retail Jeweller. Here, the key questions explored the lasting value of the provenance of a piece of jewelry, the reasons why Made in Italy is so appealing, and the need for adequate brand storytelling that, necessarily updated to the now essential multimedia channels, can only start from the concepts of tradition and craftsmanship.
Looking at the country that drove record exports in 2024, namely Turkey – a record generated by an increase in domestic tariffs that made it much cheaper to source semi-finished products from abroad – the situation now appears to have “normalized”, a rebound effect that has, however, led to a significant overall 42% decline in exports.
In short, in the first five months of 2025, gold jewelry exports amounted to €5.2 billion, down 16.8% in value and 19.4% in volume. Excluding Turkey's contribution, growth was still 2% in value and stable in volume (+0.3%).
A highly predictable overseas decline in view of the much-discussed tariffs that have led to a 24% drop in exports to the US, despite which Italian companies still managed to put €363 million in their tills.
18% and 20% increases in exports to the United Arab Emirates and Switzerland respectively complete the outgoing flow picture.
The day came to a close with a focus on the UK market, organized by Retail Jeweller. Here, the key questions explored the lasting value of the provenance of a piece of jewelry, the reasons why Made in Italy is so appealing, and the need for adequate brand storytelling that, necessarily updated to the now essential multimedia channels, can only start from the concepts of tradition and craftsmanship.