Italian Exhibition Group Acquires Arezzo Gold Jewelry Trade Shows

Italian trade fair and government representatives at a press conference in Rome 

The newly formed Italian Exhibition Group (IEG) trade show company expanded its footprint in the Italian jewelry and gold industry by taking over the organization and management of the OroArezzo and Gold Italy trade fairs. The two shows are held at Arezzo Fiere e Congressi in the Tuscany region’s city of Arezzo. It is one of the two major gold jewelry manufacturing centers in Italy. 

With this agreement IEG becomes the trade fair representative for the entire Italian gold and jewelry industry, valued at more than $6 billion, according to an Italian government official. 

The agreement was announced Thursday at a press conference in Rome attended by trade fair representatives and national and regional government officials, including Ivan Scalfarotto, undersecretary for the Ministry of Economic Development; Stefano Ciuoffo, Tuscany Region councilor for production, credit, tourism and commerce; Lorenzo Cagnoni, IEG president; Matteo Marzotto, executive IEG VP; Corrado Facco, IEG managing director; and Andrea Boldi, president of Arezzo Fiere e Congressi.

“The strategic agreement with Arezzo Fiere e Congressi spotlights Italian Exhibition Group's competence as a central, cutting edge trade show player for the jewelry sector on a global scale,” Facco said. “The Italian segment is Europe’s most important, and certainly most qualified, production district in terms of design and technological innovation.” 

IEG was formed in October 2016 with the merger of two Italian trade fair companies, Fiera di Vicenza and Rimini Fiera. IEG said at the time the alliance makes the new entity a “top player in Italy” in terms of directly organized shows with 61 fairs in its portfolio (90 percent own by the trade fair organizations) and 160 other events and congresses. The company also said it was the first example of a merger between trade show enterprises in Italy.

Among Fiera di Vicenza trade shows are VicenzaOro, held three times per year (which includes a trade show in Dubai). It is centered in Vicenza in the Veneto region, the other of the two major gold jewelry manufacturing centers in Italy. 

“Italian Exhibition Group will be managing an overall four events in Italy, one in Dubai, the official presence in the United States and a series of other strategic operations in Asia,” Facco said. “Therefore, IEG’s role as a content provider takes on even greater value, thus consolidating its international leadership in the marketing, communication and production of events linked to business for high range luxury goods.”

The new company’s aggressive stance toward locking up the trade fair sector in Italy for the jewelry industry seems to coincide with its plan to issue an Initial Public Offering as early as this year. The company made this announcement during the recently concluded VicenzaOro January trade fair. 

In addition, officials at the press conference in Rome said it coincides with Italian government initiatives to consolidate the industry in order to better promote internationally the “Made in Italy” quality production merchandise mark (indicating that a product is all planned, manufactured and packed in Italy) throughout the jewelry industry’s supply and production chain.

“This agreement is a decisive step for the development of a segment that is worth over $6 billion in exports. Know-how and organizational abilities are thus being united in order to compete in an increasingly more complex market, where company dimensions and project aims and ambitions make the difference,” Scalfarotto said. “We allocated almost $9 million euros to the gold and jewelry industry last year, providing support to our companies' participation at foreign trade shows and strengthening the biggest events in Italy. For 2017, we will be firmly continuing our efforts. After the plan aimed at the U.S. market, which began in 2016, we will be placing particular focus on Asia and the Middle East.”

IEG noted that despite the consolidation it will continue to promote the trade shows as regional fairs within their territories, “albeit with a considerable view to systematization.” 

“The aim is to strengthen and boost the industry by increasing business opportunities for exhibitors, stimulating the domestic market and favoring the presence of international buyers in order to help companies gain access to strategic jewelry markets,” IEG said in a statement. 

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Nanis: Jewels Engineered With Italian Style

Laura Bicego, founder of Nanis Italian Jewels with one of her creations 

By Gretchen Friedrich, Jewelry News Network’s social media manager

Laura Bicego, founder and “creative soul” of Nanis Italian Jewels in Verona, Italy, approaches her creations with a fused vision of structure and aesthetics. The progression flows from concept, to fabrication, to finishing touches like hand-engraved etchings and custom clasps for each themed collection. 

The artisan, whose accessory assemblage rivals Sir Elton John’s, prioritizes functionality along with style. An example is my introductory piece from her Lagoon line. 

Necklaces linked together from the Lagoon collection

What I thought was a well-crafted gold long chain necklace, turned out to be two 36-inch linked necklaces and a bracelet all held together by invisible clasps for an infinite effect. Bicego demonstrated how each section could disconnect and reconnect in a vast number of combinations to compliment any ensemble. 

The Transformista bracelet

The second demonstration of alluring illusion was the 2016 Centurion Award-winning Transformista bracelet. Individual links of diamonds and hand-etched gold connect in two ways: One configuration allows the bracelet to lie flush against the wrist, but when released, the connectors spin like an Olympic ice skater and the bracelet transforms into a double-helix of gold and diamonds. 

During our conversation in her exhibition space at JCK Las Vegas, she emphasized the importance of versatility and interaction with her jewelry. 

“It’s as much about style as it about being playful with the jewelry,” she says, as trays of hand-formed components make their way onto the desk. 

Earrings that covert to a pendant from the Cachemire collection

Further selections from the trays included earrings that could reverse for a day-to-evening transition. Also a paisley-shaped earring dangle, from the Cachemire collection, converts into a pendant with a delicate gold chain. Bicego advocates interchanging the components, as well as layering, and adding to existing jewelry box items for a renewed approach to accessorizing. 

Etching The Niche
Details are magnified in the Nanis workshop, where skilled craftspeople create components by hand, and Bicego is involved with every undertaking. When she couldn't embrace a link pattern for a necklace, she manufactured a tool that would stretch the gold into the shape she wanted. Bicego also created an earring back that is shaped to counterbalance the weight of a substantial gold and diamond teardrop earring component. 

The colorful Ipanema ring

New Colors In the Ipanema Family
New to the Nanis portfolio is the expanded Ipanema color wheel. The signature hand-formed gold foundations cradle rutilated quartz, aquamarine, several shades of topaz, along with moonstone, labradorite, and amethyst. Inspiration for this distinctive newcomer was the atmosphere of the sea, displayed in hues of blue and contrasting yellows. 

Clouds, summer storms and beached treasures found their way into the Ipanema collection of necklaces, earrings bracelets and rings. Bicego is fond of stacking, and with the tailoring of the Ipanema line, multiple pieces fit nicely together without an overwhelming appearance. 

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19% Decline In Gold Jewelry Demand

Higher prices for gold and market-specific difficulties led to a steep decline in gold jewelry demand for the first quarter of 2016, according to the World Gold Council. 

Global gold jewelry demand fell 19 percent, year-over-year, to 481.9 tons for the period (a four-year low) led by large declines in demand in India and China, the two largest gold markets, the WGC said in its quarterly “Gold Demand Trends” report.

But the decline in demand spread worldwide as a 122 percent increase in gold investment demand led to a surge in the price of the precious metal. The WGC attributed this increase in demand to a “swirling uncertainty" created by a "mix of factors" that "undermined confidence in traditional asset classes.” This included Negative Interest Rate Policies implemented by the central banks of Japan and Europe, China’s devaluation of the yuan fueling fears over the country’s economic health, and the expected slowing pace of interest rate rises in the U.S. 

This resulting increase in the price of the precious metal slowed jewelry making activity in much of the world. There were few bright spots. 

India’s jewelry manufacturing operations “virtually ground to a halt” in March due to “a combination of surging prices and industrial action in protest at government policy,” the WGC said. The protests erupted with the India’s government announced plans to impose a 1 percent excise tax on jewelry manufacturing. Jewelry stores throughout much of the country closed for the entire month of March and into April. 

The result was that first quarter gold jewelry demand fell 41 percent to 88.4 tons in India, a seven-year low. However the WGC added that it believes business will soon return to normal as most stores re-opened in the second half of April for the Akshaya Tritiya festival in early May and the start of the wedding season. 

Meanwhile, China saw a 17 percent decline in gold jewelry demand year-over-year to 179.4 tons due to “sharply rising gold price against a background of continued economic slowdown,” the WGC said.

The high price of gold took its toll in other Asian markets. Malaysia (-23%) and Indonesia (-10%) were the weakest performers. 

Vietnam was an exception to the depressed regional market, with jewelry demand 6 percent higher year-over-year. However, the WGC warned that at least some of this growth could be attributed to investment demand. 

The US proved to be one of the few bright spots in the world as demand for gold jewelry continues to grow. In the first quarter demand increased 2 percent year-over-year to 22.6 tons, marking the ninth consecutive quarter of year-over-year gains, “impressive for a market where economic growth has remained relatively anemic,” the WGC said. 

Some retailers were re-entering the gold jewelry market after slashing or completely eradicating their gold product offerings, WGC said. In addition, double digit gains in gold jewelry imports in January and February “was a clear indication of US consumers’ continued desire for gold jewelry.” 

The lone bright spot in the Middle East was Iran where gold jewelry demand rallied by 10 percent year-over-year to 9.9 tons as the market continues to feel the benefit of the lifting of Western sanctions. However, the WGC added that this growth was tempered by the impact of 9 percent VAT. 

The remaining Middle Eastern markets uniformly saw double-digit losses in the first quarter as the region is beset with low oil prices and weak tourism revenues, in addition to the high price of gold. Egypt was the worst casualty as demand fell 18 percent to 7.7 tons.

In Turkey, gold jewelry demand declined 18 percent to 8.5 tons as the high price of gold, a struggling domestic economy and terrorist activities weighed on sentiment, the WGC said.

In Europe, gold jewelry demand was lackluster with a 1 percent increase to 12.7 tons. 

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2015 A Down Year For Gold Jewelry Demand

Colorful gold chains by Pomellato. Photo by Anthony DeMarco

There were few bright spots in the global gold jewelry market for 2015 as regional tensions continue to slow jewelry sales.

Annual gold jewelry demand declined 3 percent in 2015, year-over-year, to 2,414.9 tons as many markets remain under the strain of geopolitical tensions and instability, according to the World Gold Council. Fourth quarter demand meanwhile was a bit more stable with a 1 percent drop in jewelry demand, year-over-year, to 671.4 tons. In value terms, the decline was 9 percent. 

India, the second largest gold jewelry market in the world, was the main driver behind the gold jewelry economy this year, although it was not enough to offset losses in China, Turkey Russia, and the Middle East. In the U.S., steady, slow growth continues while spending on gold jewelry remains flat in Europe. 

India
A surge in demand in India during the second-half of the year resulted in a 5 percent gain in demand in 2015 to 654.3 tons (its third highest level on record) and ended the year with a fourth quarter increase of 6 percent to 173.1 tons. 

The WGC said November and December were “particularly upbeat” led by the five-day Diwali festival, which was preceded by a drop in the price of gold, leading to greater demand. Severe rains and flooding in southern India followed by reduction in foreign investment led to the first-half decline in demand. 

China
Demand in the world’s largest jewelry market saw a 3 percent drop in gold jewelry demand, year-over-year to 783.5 tons. Meanwhile, fourth quarter demand fell by 1 percent to 202.6 tons. The WGC blames the “economic slowdown and the stock market turmoil of the first half of the year was the primary driver behind this weakness, through its damaging effect on wider consumer sentiment.”

The WGC adds the country faces difficult times for retailers as tightening credit lines and slowing economic growth has put pressure on margins. Small regional brands, especially those in tier 3 and 4 cities, have suffered most. Larger retailers have fared better, “supported by a better product range and deeper pockets.” About 85 percent of the market consists of 24k jewelry with higher-margin 18k product grabbing more market share. Inventories are being managed conservatively, the WGC adds.

Hong Kong
The small but important market saw its gold jewelry demand “practically collapse,” with a 23 percent drop in the fourth quarter alone to 13.6 tons. The island is heavily dependent on mainland China tourists, which saw a steep decline in 2015 and into 2016. 

U.S.
Demand for gold jewelry increased 3 percent in the fourth quarter to 45.6 tons, matched by a “cautious” 3 percent increase in annual demand to 119.6 tons, the WGC said. The U.S. has now experienced eight consecutive quarters of growth. The main benefit was a drop in the gold price in the third quarter, which aided buying by retailers for the Christmas season. 

“The tentative uptrend that began in 2013 continues to hold for now, but feels fragile,” the WGC said. “On the one hand, consumers have seen their disposable incomes benefit from lower oil and heating prices. But on the other hand, a shift has been seen towards spending on travel and leisure rather than on retail goods. While creeping improvement in economic indicators provides some support, there is little call for enthusiastic optimism in the outlook for 2016.”

Other Asian Markets
Overall, the smaller Asian markets were a “mixed bag,” the WGC said, with growth in Japan, Vietnam, Indonesia and South Korea offset by losses in Thailand, Malaysia, Taiwan, the WGC said.

Vietnam was the high point as demand for gold jewelry expanded by 31 percent year-over-year in the fourth quarter to 3.9 tons, yielding a 25 percent increase in annual demand to 15.6 tons. This is due to a steep drop in the local price of the precious metal in 2015, combined with lower inflation and stronger economic growth, the WGC said.

Turkey
The important gold jewelry manufacturing hub wrestled with economic, political and regional disruption over the past year and is seen by the WGC as one of the major causes of the global decline in gold jewelry demand in 2015. Fourth quarter results were very much along the lines of the year-over-year weakness seen over the preceding three quarters as demand fell 26 percent to 15 tons. The lira is weak, which kept local gold prices elevated. “The fragile domestic economic and political backdrop—and proximity to conflict in Middle Eastern countries—badly affected consumer sentiment in the market,” the WGC said. “As did the terrorist incidents that spilled onto domestic soil.”

Middle East
Iran is the only bright spot as demand in the region declined 5 percent to 51.4 tons in the fourth quarter, giving an annual total of 224.1 tons, the lowest since 2012. “Unsurprisingly, further falls in the price of oil and continued conflict across the region have fed through to declines in gold jewelry consumption,” WGC said. “Declining tourist revenues were an added factor in the UAE.”

Russia
Annual Russian jewelry demand slumped to a 14-year low of 41.1 tons—39 percent below the 2014 total. Demand in the market has “collapsed” since the middle of 2014, with six consecutive quarters of double-digit losses. “Already crippled by the after-effects of military intervention in the Ukraine (namely, a freefalling currency and international sanctions), the market has been further clobbered by plummeting oil revenues,” WGC said. “There is little room for improvement in demand over the coming year.”

Europe
Demand for gold jewelry in demand declined by 1 percent in both the fourth quarter and full-year of 2015 (to 35.7 tons and 75.8 tons respectively). Slight improvement in the UK (+1%) and Spain (+6%) were offset by declines in France (-5%), Germany (-2%) and Italy (-3%) continued to shrink. 

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Gold Jewelry Demand Up 6% in Q3 As Gold Prices Fall

Consumers in much of the world increased spending on gold jewelry, making pieces by designers such as Alex Soldier more in demand

Global demand for gold jewelry grew 6 percent year-over-year in the third quarter of 2015 to reach 631.9 tons, marking the strongest third quarter for jewelry demand since 2008, according to the World Gold Council. 

Lower prices for gold in July and August attracted consumer to buy gold jewelry, according to “Gold Demand Trends” report for the third quarter of 2015. This is in strong contrast with a 14 percent decline in gold jewelry demand in the second quarter.

On a year-to-date basis, jewelry demand amounted to 1,750.2 tons, 3 percent behind the same period of last year.

In India, the drop in price of gold led to a dramatic turnaround in consumer demand for the world’s second-largest consumer of gold jewelry. Year-over-year demand for the third quarter increased 15 percent to 211.1 tons. This compares with a 23 percent decline in the second quarter of 2015.

“Between mid-July and mid-August, retailers saw unusually brisk trade for the time of year,” according to the report. “Traditionally, this period experiences a lull in demand in the pause between the end of the April-May wedding season and the onset of autumn festivities, particularly by Diwali. The surge in demand ended after mid-August with a sharp recovery in the price of gold, exacerbated by a weakening of the rupee.”

Rural and semi-urban consumers were the main engine of growth in the Indian jewelry sector, according to the report.

However, the report warns that the “fourth quarter outlook is more muted.”

In China, the world’s largest gold jewelry market, lower prices and strong Valentine’s Day sales lifted consumer consumption in the third quarter as gold jewelry demand grew a modest 4 percent, year-over-year, to 187.6 tons. In line with global patterns, consumers responded favorably to the sharp drop in the price in July. The drop in price coincided with China’s Valentine’s Day on August 20.

Again, the WGC warns that there may be trouble ahead for the gold jewelry demand in the fourth quarter.

“The jewelry sector in China faces headwinds from a number of quarters. Credit conditions remain tight and competition fierce. 18k jewelry continues gradually to encroach on the market for 24k, in part due to manufacturers pushing more contemporary, highly designed product in order to gain market share.

“Expectations for the fourth quarter are somewhat more conservative, bearing in mind the weakening macro picture.”

Meanwhile, jewelry demand in Hong Kong grew by 22 percent to 13.7 tons, primarily due to higher-design, unique pieces, popular with mainland Chinese tourists.

In the US, jewelry demand continues to make “creeping gains,” the WGC says in its report. Demand grew by 2 percent to 26.2 tons.

“Growth in the sector reflected a continued desire for gold in the 10k and 14k sectors, against a hesitant economic recovery,” according to the report. “However, imports again outpaced demand, as the retail sector shored up inventories in anticipation of further strength in demand as the holiday season approaches.”

Other markets are as follows:

* East Asia - Jewelry demand made double-digit gains in Indonesia, South Korea and Vietnam, assisted by the falling price, WGC said. Indonesian demand was further boosted by an economic stimulus package unveiled by the government in early September. In Vietnam, economic growth and a relatively benign inflation environment also contributed to the upturn. Meanwhile, jewelry demand in Singapore and Malaysia declined by 24 percent and 10 percent, respectively. Year-on-year comparisons in Malaysia were negatively affected by the Goods and Services Tax, introduced in April.

* Turkey - Demand fell 29 percent year-over-year to 12.1 tons, the lowest third quarter ever, according to WGC records. “Political instability and the rising threat of terrorist attacks have had a devastating impact on consumer sentiment. Those wishing to seek respite from the turmoil in gold did so through investment products: bar and coin demand was contrastingly positive, up 97 percent year-on-year.”

* Middle East - Demand for gold jewelry varied as minor gains in Saudi Arabia and Egypt cancelled out slight declines in Kuwait, United Arab Emirates and the other Gulf countries, WGC said. “Lower oil prices and regional political tension tussled with the fall in gold prices to keep demand broadly stable.” The exception was Iran, where jewelry demand rallied by 40 percent to almost two-year highs. “Consumer sentiment was boosted by the signing of the nuclear deal, an affect which was further magnified by the tumbling gold price, although the 9 percent VAT rate introduced in Q2 was something of a headwind.”

Gold jewelry demand in Europe fell 1 percent as demand was stagnant across most markets, according to the report. Exceptions were France where gold jewelry demand declined 6 percent and Spain where demand grew 5 percent.

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Value For Some, Luxury For Others At Hong Kong Jewelry Fair

Inside the Hong Kong Convention & Exhibition Centre. Photo credit: UBM Asia

With the slowdown in the Chinese jewelry market and other BRIC countries (Brazil, Russia and India), there was a focus on value among many of the fine jewelry vendors exhibiting at the Hong Kong Convention & Exhibition Centre during the September Hong Kong Jewellery & Gem Fair. 

“Affordable luxury” and “fun” collections using gold and small diamonds starting at $200,” was one of the major selling points at this year’s fair, says Marie Feliciano, editor-in-chief of Jewelry News Asia. 

“Stackable rings, stack bracelets, ear climbers and multi-layered necklaces are trending,” she said. “I’ve seen some really attractive over-sized rings with colored gemstones. With regards to colored stones, tourmaline, tanzanite, topaz and fancy sapphires are quite popular. Some Hong Kong companies are using carved jade in their contemporary collections.”

It also helped to provide variety. 

Inspired Jewellery makes a statement about the financial people on Wall Street with this silver pendant necklace

Inspired Jewellery, a contemporary jewelry design firm, exhibited examples of its modern diamond-based jewelry, a line of delicate bridal rings for the Japanese market, and an affordable silver jewelry collection with satirical statements about the state of the world today. It’s called “Deception ... A Collection.”

“We’re really well-positioned with our product mix,” said Chris Benham, CEO of the New Zealand-based firm. 

The company was located in “Designer Avenue,” a new area on the fourth floor of the Hong Kong Convention & Exposition Centre dedicated to smaller design-focused firms. Benham said he was “really pleased with the crowds” from a variety of Asian countries and regions. This variety means the experiences of individual exhibitors and buyers differed.

The Inspired Jewellery booth in "Designer Avenue." Photo by Chris Benham

It’s not only the size of the show that makes it arguably the most important in the worldwide jewelry industry but its scope. The variety of jewelry available at the Hong Kong Convention & Exhibition Centre includes low-end silver products, designer items, haute couture, and collectible jewelry and watches.

One of the more interesting exhibits each year is a group of jewelry designers in single booth, organized by Frank & Label, a company that represents jewelry designers in China. The number of exhibitors changes each year. This year there were about five from different countries and representing various jewelry markets. 

Evert DeGraeve, a New York-based jewelry designer who also serves as business development director for the company based in Hong Kong and Shenzhen, China, says that business in China is still good despite the well-publicized difficulties, particularly at the luxury end. 

“There might be a slowdown but the markets in China are still open,” he said.

So while value was the focus for many exhibitors, those who deal in high-end jewelry still brought their best items and were ready to do business. 

So while value was the focus for many exhibitors, those who deal in high-end jewelry brought their best items with them, no matter the cost. 

A gem-encrusted lion by Atelier de Creation taken at the firm's booth. Photo by Anthony DeMarco

“It’s the hub of the jewelry industry all over the world,” said Henri Istanboulian of Zorab Atelier de Creation, which has been exhibiting at the fair for 20 years. The family owned firm specializes in unique and limited-edition high jewelry made with combinations of rare gems. “The Hong Kong show became more interesting and better than any other show.”

Sarah Ho Royal Plume Earrings in 18k white gold with pink and blue sapphires, aquamarine, diamonds and pearls; from her Couture collection

During opening day at the convention center (the third day of the fair), fine jewelry designer Sarah Ho said buyers haven’t yet made it to the back of the main hall where her booth is located. She was featuring a couture line of jewelry and the “Numerati Collection” of rings based on the numbers 1 through 9 made in 18k rose gold with diamonds.

“The numbers are visible when the ring is held but as soon as the ring is worn the number becomes a hidden secret, known on to the person wearing it,” she said.

It’s her second year at the show and she says a long-term goal is to move closer to the front of the hall. 

“Once you start a show you have to give it a few years.”

Sarah Ho Numerati Rings in 18k rose gold with diamonds

Etienne Perret, an independent jewelry designer based in Maine, was at the Asia World-Expo portion of the tradeshow where diamonds, gems, pearls and jewelry making equipment are housed. He was primarily looking for pearls to augment his ceramic jewelry creations. 

“I have been looking for 10 mm to 15 mm cultured pearls for some of my rings. To make the rings more affordable for my clients I decided to look at Chinese freshwater pearls,” he says. 

“The biggest challenge was to try to figure out which one of the hundreds of companies selling at the show to buy from. We spoke with a number of companies that were all very helpful. In the end we decided to go with a company out of Hong Kong that took credit cards and let us take the pearls with us. Being from Hong Kong it will be easy to email reorders to them.” 

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10% Drop in 2014 Global Gold Jewelry Demand

This Indian woman who reportedly wore more than $600,000 worth of jewelry to her wedding may have helped India achieve an 8 percent gain in gold jewelry demand in 2014

Global gold jewelry demand fell 10 percent year-over-year in 2014 to nearly 2,153 tons as strong growth in India, the US and UK couldn’t offset declines in many other large gold markets, the World Gold Council said Thursday.

The WGC, in its quarterly Gold Demand Trends report for the fourth quarter and year-end 2014, says the decline was largely due to extremely strong comparisons to 2013. 

“2014 was always going to be a difficult year for jewelry demand, contending with comparisons to phenomenal strength in 2013,” WGC said in the report. “After a steep drop in Q2, demand for gold jewelry gradually recovered, culminating in the strongest Q4 since 2007.”

The report also notes that the year-end figure is “comfortably above” the 2,053 ton average for the the prior five-years. 

Despite the drop for 2014, year-over-year fourth quarter demand actually grew by 1 percent to 575 tons, again led by a surge in year-end demand in India, the US and the UK, according to the report. 

The report, which also tracks gold demand for technology, investment and central bank net purchases, says jewelry remains the biggest source of demand for gold, accounting for nearly 55 percent of total demand in 2014. 

Declines were reported in much of the world including nearly all of Asia, the Middle East, Russia and in gold manufacturing centers Turkey and Italy. 

The biggest surge in demand for 2014, by far, was in India—one of the two largest gold markets in the world. India had its strongest year for jewelry demand since the WGC began tracking demand in 1995, up 8 percent year-over-year to 662 tons. Wedding- and festival-related purchases drove fourth quarter demand up 19 percent and first-half 2014 up 37 percent, year-over-year. “The second half of the year was the strongest H2 in our data series (from 2000),” the WGC said in its report.

However, it should be noted that the results in India are being compared with extremely weak 2013 results, due to restrictions of gold imports and the decline in value of the local currency in 2013. 

The other largest gold jewelry market in the world, China, saw its 2014 demand fall by 33 percent year over year to 623.5 tons. Despite this, it was still the second best year for jewelry demand in the country since WGC records began. 

In the US, jewelry demand showed year-over-year growth for the seventh consecutive quarter. Its fourth quarter result of 54 tons was a 13 percent year-over-year increase and the strongest fourth quarter since 2009. The 2014 full year demand of 132.4 tons was a 9 percent year-over-year increase and the highest year-end total in five years. 

“That being said, it clearly has to be acknowledged that the market remains far below pre-crisis levels of jewelry demand, which between 2000 and 2006 averaged 360 tons per year,” WGC added.

In the UK, demand increased by 18 percent in 2014 to 27.6 tons. In the fourth quarter sales increased by 14 percent to 15.9 tons, led by the introduction of “Black Friday” sales events for the Christmas holiday season, the WGC said. 

“Lower carat gold jewelry took market share from silver and some interest in heavyweight plain gold chains was reported,” WGC said. 

In most other major gold jewelry markets, demand was down. 

The Asian region was generally weak, with smaller markets “affected by its own individual set of adverse economic circumstances that proved detrimental to jewelry demand,” WGC said in its report. Japanese demand for jewelry slid 8 percent in 2014 to an all-time low of 16.3 tons as the already ailing consumer sentiment “was dealt a blow by the sharp fall in the value of the yen after the central bank unexpectedly expanded its monetary stimulus program in the last quarter.” 

There was a 12 percent decline in demand in Indonesia, the largest of the non-Chinese Asian markets, due high inflation and political upheaval. Newly elected President Widodo announced the removal of gas subsidies in October, “which further choked disposal income.”

Vietnam bucked the trend with a 4 percent gain in 2014.

Other markets are as follows:

* Turkey, demand was down 7 percent to 68.2 tons. 

* Middle East, markets in this region lost a combined total of 8 percent in 2014 to 174.1 tons.

* Russia, gold jewelry demand in Russia dropped sharply in the fourth quarter, leading to a net decline of 4 percent to 70.6 tons for 2014. “The stratospheric rise in the gold price during the fourth quarter (as sanctions and sliding oil prices hit the domestic currency) proved too steep for many consumers.”

WGC says that Jewelry is by far the largest component of above-ground stocks of gold—accounting for almost half of the 177,200 tons of gold estimated to be held by private owners and central banks. 

The total global gold market in 2014 declined 4 percent to 3,923.7 tons, according to the report. The total global supply of gold was flat at 4,278.2 tons. 

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Red Carpet Jewelry at SAG Awards

Jennifer Aniston in an Amrit yellow gold jewelry chain

The Screen Actors Guild Awards Sunday presented a second opportunity for jewelry to shine on the red carpet. Although many of the outfits worn were bright and colorful, the jewelry that was was largely based on white metals and diamonds. 

There was a little bit more color present than during the Golden Globe Awards red carpet a few weeks earlier. But still white and conservative were the key themes again when it comes to jewelry. 

Below are some of the top looks of the evening:

Jennifer Aniston (top photo) was practically shimmering in yellow (her dress and even her skin). She wore a long gold Amrit jewelry chain accompanied by Fred Leighton yellow gold bracelets and earrings. It was one of the boldest statements on the SAG red carpet.

Maggie Gyllenhaal also delved into the yellow gold trend wearing Fred Leighton Victorian Gold pendant earrings and 1940s gold, peridot and diamond ring. 

However, the red carpet was most characterized by Reese Witherspoon displaying an elegant ensemble of more than $3.5 million worth of Harry Winston diamonds that included emerald-cut diamond drop earrings set in platinum, a 24-carat princess-cut diamond line bracelet set in platinum, and a cushion-cut pink sapphire & diamond cluster ring.

The Forevermark brand is dependent on white diamonds with white metals. Kaley Cuoco Sweeting was elegantly layered in a variety of pieces including Forevermark by Leo Schachter Flower Stud Earrings with Round Brilliant Forevermark Diamonds set in 18k white gold; two diamond and platinum Forevermark bracelets, and Forevermark diamond cuff set in 18k white gold.

Alysia Reiner was equally elegant wearing a full suite of diamond jewelry by Simon G. Jewelry in 18k white gold.

Patricia Arquette in Fred Leighton 19th Century gold pendant earrings.

Uzo Aduba in Forevermark by Rahaminov Diamonds, including Flower Cluster stud earrings; The Center of My Universe diamond ring; and diamond line bracelets, all in 18k white gold.

Laverne Cox in Forevermark Diamonds, including Forevermark by Natalie K The Center of My Universe bracelets; Forevermark pave oval ring; and Forevermark circle earrings, all set in 18k white gold.

Julia Louis-Dreyfus added a touch of color in Fred Leighton cushion cut diamond drop earrings with an amethyst and rose-cut diamond scalloped cluster ring.

A newcomer to the red carpet, Kimiko Glenn kept to the understated theme by with a contemporary look by wearing Dionea Orcini ear climbers. In white of course. 

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Italian Gold Jewelry the Focus of Arezzo Tradeshow

Nemesi

The city of Arezzo is a gold jewelry manufacturing center that symbolizes Italian design and craftsmanship. It’s where jewelry for the masses meets with the artistry and craftsmanship that are the hallmarks of Italian jewelry design.

Unoaerre

It is in this Tucson region where the Gold/Italy jewelry trade fair was held, October 25-27. With its focus on Italian jewelry design and craftsmanship from 220 companies in the region, the show attracted jewelry industry professionals throughout Italy and from 50 countries around the world. 

Eurocatene

Fashion was a big focus of this year’s show with runway events matching jewelry to apparel ranging from street clothes to elaborate gowns. It’s not going to be a one-year theme as the officials of the local gold jewelry industry sees its future as a partner with fashion companies. 

Artur Gold

“Made in Italy jewelry is the result of excellent manufacturing skill and a historical goldsmith tradition. We have an extraordinary product which must be taken advantage of. Only those who innovate can hope to change the world,” said Andrea Boldi, president of Arezzo Fiere e Congressi, which owns Gold/Italy and Oroarezzo. “Arezzo is the home of jewelry, and in our territory, we have always been linked to another top quality and world famous excellence, fashion.”

Fratelli Chini

He added, “We are working towards having buyers from the fashion world directly at the show because, nowadays, in an increasingly dynamic and global world, we must be able to create further business links. For this show, we have managed to achieve an important result. We will have 240 top international buyers who are estimated to create over 1.5 billion dollars in Made in Italy sales.”

Fratelli Bovo

This year’s show provided a good representation of the region’s artistry, with new creative designs, more traditional solid-gold fare, mixed jewelry pieces incorporating precious and semiprecious stones, and silver jewelry.

Gruppo Eclat

One of the things these artisans do well is create designs using finely woven gold mesh, in threads that in some cases are half the thickness of a human hair, shaped and molded into elaborate necklaces, earrings, brooches, and bracelets. The same type of variety and detail is present in gold-beaded pieces. Big, bold pieces, something Italians are noted for, were also evident as well color in many of the designs.

Mulino d'Oro

Two companies, Fratelli Bovo and Fratelli Chini, provided different examples of the mesh technique, with the first shaping the fine gold threads in a corkscrew pattern for a necklace, earrings and ring set; while the latter uses crisscross patterns that extend out into a series of semicircles for a bracelet. 

New Line

Unoaerre created a fine-beaded bracelet in a woven pattern that looked like ribbon. Another bracelet by Gruppo Eclat mixed yellow gold with a brown colored gold finished for a two-color thick bracelet in a tight woven pattern. 

Prestige

A few years ago, jewelry manufacturer, Nemesi, turned to 3D printing to create its jewels and now 90 percent of its pieces are made with this technology, which has freed the company creatively, said Paolo Cerofolini. “We can do anything,” he said. “The only limit is the market.” 

Aqua

He adds that the company has been in “full production” for the past five years and business continues to pick up as the price of gold has declined. 

Nemesi’s offerings included a two-stone ring made with threads of gold in random-like patterns and topped with a Japanese cultured pearl and a round faceted citrine. 

The Graziella Group provides jewelry in gold and silver in classic, modern and fashion designs for women of all ages. Its products extend to accessories, such as leather handbags and a quartz watch line. They sell to retailers and directly to consumers. Its major markets are in the Middle East, Dubai, Russia and China. 

Serena Cutini, a sales representative with the company, said it was not affected by the global downturn.

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