By Edahn Golan

 

The VicenzaOro First jewelry show opened with the sense that the global market for luxury goods and jewelry was awakening once more. After a quiet first day, the crowds began to flow in on day two and certainly seemed to be expressing an interest in the offerings.

 

A wide variety of styles and price ranges could be found in the exhibitors’ display cases. High-end companies such as Damiani and Roberto Coin entertained long lines of visitors at their booths.

 

The show featured 1,548 exhibitors, the majority of them Italian, though 428 came from 32 countries around the world, including China, Thailand, India and Turkey.

 

Emerging Styles

The styles, as always at the January edition of this show, were forward-looking and will set the tone for the rest of the year.

 

 A number of style elements were immediately discernible. Large, hollow, electro-form components were widespread in the form of pendants, charms, whole bracelets or as links in necklaces. This design strategy was a reaction to the high cost of gold and an attempt to prevent price points from jumping higher than consumers would be willing to pay. Despite these cost-cutting initiatives, there were also bigger and bolder components than had previously been seen.

 

Etched and worked surfaces were another trend. These take the form of textured surfaces that go beyond the brushed surfaces to include deep grooves in either a symmetrical or more random fashion, such as scratched enamel surfaces and layered outlines of flowers and butterflies.

 

Elastic link bracelets, rings and necklaces that stretch were also created by many designers.

 

Over-sized earrings - long, wide, flat and worked or three-dimensional - was another distinct trend, as was the use of rose gold. Some structural items, another way to create large three-dimensional items, as well as the use of fabric, were seen at several booths. 

 

In what was clearly a reaction to the economic situation, two additional style elements emerged - worked surfaces that sparkled to create the illusion of diamonds and a certain return to classical designs to keep the items fashionable for several years.

 

Diamonds

While VicenzaOro First lived up to its reputation as the place to see the leading design elements of the year, diamonds were of less interest to buyers, leaving several traders wondering whether they should even return next year.

 

In shows with a small diamond trading presence, such as VicenzaOro First, jewelry usually gets most of the attention and it’s not until the last couple of days that diamond wholesalers see serious traffic. This was not the case at Vicenza.

 

The demand that traders reported was for round certified goods in H colors and higher, in the SI-VS clarity range and in a wide range of sizes - from pointers to 3 carat goods.

 

Many traders reported poor demand and weak sales. When asked about price points, most diamantaires were reluctant to discuss figures though an Israeli trader who reported good sales said that most of his colleagues had set their prices too high.

 

A large Indian manufacturer, a Diamond Trading Company (DTC) Sightholder, also reported good sales, and hinted that price was the key.

 

If many ways, VicenzaOro was a repeat of the Hong Kong show in September where those who lowered their prices by a few percentage points reaped the reward of a large volume of sales. Volume is the name of the game in the diamond industry, which is notorious for its low margins.

 

The economic slowdown that hit the Italian economy had been reflected in the September VicenzaOro show. By comparison, jewelry designers reported much better business this time around. Their optimism was not marred by the fact that sales and orders had not yet caught up with pre-crisis levels. They knew that their unique designs and high-quality manufacturing fits in with the new retail reality.