The point on the jewelery market in Italy: in 2017 sales were growing. And export boom especially to France (thanks to Bulgari) ♦ ︎
Immediately after the complaints about the weather (it’s too hot, too cold, too rainy, too dry), the second favorite sport of Italians is pessimism. That of the Italians is a people of dissatisfied, much more unhappy than those who live in countries with less wealth, less beauties to admire, less exquisite foods to taste. So, if goldsmiths say that 2017 was a golden year, you really have to believe them.
The Goldsmiths Club took the opportunity to take stock of the jewelery market, citing Istat data on the production and turnover of the jewelery and jewelery sector. In 2017, therefore, the two sectors recorded growth of 15.6% and 8.9% respectively in Italy. But since you do not need to get too excited, the Goldsmith Club cools your enthusiasm a little. Yes, it is true that business has gone better, but also thanks to the improvement of the world economy and the specific demand for gold jewelery, as decreed by the World Gold Council. In the world, in fact, in 2017 the worldwide demand for gold jewelery has increased by 4% in quantity, thanks above all to an acceleration at the end of the year.
More exports
Italian companies have taken advantage of it to export more. Export to other countries has risen by 12% in value for the jewelery and costume jewelery (12.7% for the precious metal component alone, which also grows by 6% in quantity). In particular, sales to France increased (+ 33.0%, almost 190 million more than in 2016), also due to the entry into production of the new Bulgari plant in Valenza, part of the French Lvmh group, with Alessandria which becomes the first exporting province, exceeding the 2 billion euro threshold.
Good export results also to Switzerland (+ 15.7%, equal to 188 million euro) firmly in first place as a destination, to Hong Kong (+ 16.2%, 109.5 million euro) and to the United States (+19.5, 127.3 million euros). The strong development of direct exports to Turkey, which grew by 29% (+ € 56 million), should be noted. On the other hand, sales to the United Arab Emirates continued to decline (-3.4%): compared to 2013, Italian jewelery sales fell by around 30%, with a loss of 380 million euro. Despite the increase in imports (+ 9.1% and + 23.6% for the precious metal component), the balance of the goldsmith sector has further increased, exceeding 4 billion euros (4.4 billion for jewelery in precious).
The analyst’s comment
«The acceleration of the production, turnover and export indices throughout 2017 shows the importance of Italian know-how and expertise in jewelery, able to attract new investments and support the competitiveness of the numerous small and medium-sized businesses companies operating in the sector. The international scenario remains favorable to companies in the sector also in 2018, with the main target markets expected to remain growing», is the comment of Stefania Trenti, of the Research Department of Intesa Sanpaolo. Federico Graglia
