Lorenzo Muraro leads the group named after him, with brands such as Comete, Barakà and Ambrosia. On the occasion of VicenzaOro he gave an interview to the weekly «il Mondo», in which he explains the company’s strategies.
Austerity and the international crisis, as all analyzes of luxury portray, have ended up increasingly polarizing consumers. On the one hand, the very high-end buyers. On the other, the low cost range. And the average one? «He is encountering the greatest difficulties. But precisely for this reason it also remains one of our challenges. For example, we are playing the 375 gold card: that is, 375 thousandths of gold, instead of the classic 750. We don’t want to give up the precious metal like many, who have replaced it with steel to keep the price down, but we know that a certain type as a consumer is now very attentive to the final price”, explains Lorenzo Muraro, at the helm of the company of the same name in the Northeast (Olmo di Creazzo, Vicenza) with brands such as Barakà, Comete and Ambrosia. «In 1975 I opened my first VAT number. And in 1995, with my wife Ivana, I started the Comete adventure. Today we have 60 master goldsmiths, 120 employees and 45 agents. In the nineties when it all started there were just 20 of us”, he recalls.
Request. How is your business structured?
Answer. The accessible range of jewelery is that of our beginnings, precious objects, always in gold, but where the price is lower thanks to the use of semi-precious or synthetic stones. For Ambrosia and Comete we can count on a network of 1,500 points of sale in Italy.
Request. And Baraka?
Answer. The objective is to reach a high-end consumer: men’s jewelery combines a high technical content: they are inspired by the cardan joint and precious elements such as gold and diamonds. The latest S29 model, for example, was made in just 19 examples and one of these was purchased by Cristiano Ronaldo. Furthermore, it allows us to acquire an outlet abroad. Barakà is already present in foreign markets such as Russia and the United States. And it will therefore be our trailblazer to tackle the global market. The project will be followed by my son Alberto, who has just joined the company, while Marta has now been part of the business for ten years and follows the marketing.
Request. With what resources will you face the world market? Always chasing the average consumer?
Answer. By modulating production according to the needs of consumers at various latitudes. We have a team of 13 people dedicated to studying and developing the right product and we are very flexible. For example, Americans like a very “television-like” piece of jewellery, generous in size and highly effective.
Request. The most demanding consumer?
Answer. Europeans and Italians in particular are undoubtedly the most difficult to satisfy: they master the culture of beauty. It is easier to meet the desires of the Arab markets, with a very high consumption of jewellery: to hit the mark the brand must be known, but to fulfill purchasing desires, classic pieces are enough.
Request. The appointment with VicenzaOro Fall is renewed. What are the new trends in the sector?
Answer. The color, in metals and stones. After long seasons in which jewelery was mastered by diamonds, white gold and platinum, here is the warmth of yellow metal, perhaps in a pink version, and colored stones from emeralds to sapphires and rubies. As for Christmas shopping, I think it will be good, even though the mid-range has almost disappeared.
Request. Forecasts for the end of the year?
Answer. We will close with a turnover of around 35 million euros, as in 2012. If the domestic market is slowing down, fortunately the business abroad is growing. The direction towards which we are projected.
Request. What are the problems for sector operators?
Answer. Once the problem of the new European legislation which has banned the presence of nickel in white gold alloys has been put to rest (an agreement has been reached), there will be a lot of talk about the crisis and the need, more than ever, to create a system. By joining forces to tackle foreign markets together, for example. In Italy there are 18 thousand licenses for jewelery shops, three times as many as in France.
