The Fope brand is an acronym for Fabbrica Oreficeria Preziosi Esportazione. And, in fact, the Italian goldsmith company listed on the Euronext Growth Milan stock exchange is very active abroad. The latest move is the establishment of the company Fope Japan G.K., based in Tokyo and created to take care of the commercial development of the Japanese market. The company is controlled by Fope Japan (80%) and by SwissPrimeBrands (20%), partner of the Veneto Group which has handled the distribution of Fope products in Japan to date. A few weeks earlier Fope had announced the opening of a new single-brand boutique in the prestigious Seibu mall in Kuala Lumpur (Malaysia). In short, Fope’s gold is increasingly heading towards the East. A strategy that has borne fruit: in 2023 Fope achieved consolidated net revenues of 66.8 million euros, with growth of 4.61 million (+7.4%) compared to 2022.
Results aligned with the budget expectations drawn up at the beginning of 2023, taking into account a complex economic situation at an international level and confirmed by indicators that showed slowdowns particularly in the second half of the year. During 2023, the Italian market stood out for its excellent sales performances, generated both by the Venice boutique and in general by our dealers and favored by the good presence of foreign tourists in Italy. The hedging policy on gold needs neutralized the fluctuations in gold prices and the primary sales margin did not suffer any deviations from the budget values. The vision for 2024 is positive and of further growth.
Diego Nardin, CEO of Fope
Meanwhile, the jewelry brand does not give up on adding new things to its collections. One, rather important, is scheduled for September. Meanwhile, Fope has renewed one of its iconic collections, Eka. The name in Sanskrit means one. And, in fact, Eka was the first collection to which the patented Flex’it technology was applied, which allows jewelery flexibility thanks to gold micro springs hidden inside bracelets, rings and necklaces. Now the Eka line becomes more bold and transversal thanks to a shirt where the golden grains are emphasized by embracing each other. Since 2024 the necklaces have existed in soft and elastic variants, enriched with the precious D-click diamond button closure.