MILAN, May 28 (Class Editori) -- "China is the market where the business is restarting because it has been the first to be affected and the first to have overcome the epidemic. In this area, as Federorafi, we are studying an important initiative together with Ice Agenzia in view of the third edition of China International Import Expo of Shanghai next November", Ivana Ciabatti, Chairman of Confindustria Federorafi has revealed to MF Fashion (Class Editori group)
"Last year, 16 companies had the opportunity to do real business and conduct an interesting test to better understand the Chinese consumer. This year, we are focusing on a surface of 300 square meters. Apart from China, also the USA, Japan, the Arabian countries and the rest of Europe continue to be the target countries of our exports, where we are going to strengthen the initiatives concerning the large-scale distribution", the Chairman has added.
For the sector, China accounted for about 1 billion euros of exports out of a total amount of 7 billion euros in 2019.
"We have started 2020 in the right way, also with good proposals by Vicenzaoro January. Then the COVID-19 storm arrived, at the beginning with the stop to the business towards China, and then with the dramatic repercussions on the whole world", Ciabatti has explained.
"The forecasts for the first quarter show that the turnovers of our companies have decreased by 50 percent even though in January and, partly in February, they recorded good results. A few days ago, production has been resumed but with the engine at idle speed, because there are no orders and the medium-term outlooks are not encouraging. For these reasons, already on April 14, we have presented to the Undersecretary Maeci – Ministry of Foreign Affairs and International Cooperation – ten proposals for the internationalization which can be immediately implemented."
"Every week we discuss with the national and international exhibition system and we are currently speaking with the organizers in order to identify fast, convenient and hybrid (off and on line) exhibition models. In the meantime, it is important to invest in communication actions. Apart from those that the government has allowed us to implement, we are confident about the strengthening of the claim of the extraordinary Italian jewelry."
"We are trying to develop Asia, a market we entered four years ago. The customers of this area, in particular the Chinese ones, are fascinated by the tradition of an historical brand and its craftmanship. However, today we still not have an accurate expansion planning", Maria Cristina Buccellati, Communications Manager of the namesake company and representative of the third-generation of the family, has declared to MFF.
The haute-jewelry company from Milan, acquired by the Richemont group last year, would like to expand in the East countries, where it can already boast an important presence in the distribution field. If the strategy was realized, the boutique network directed to Shanghai, Beijing, Macao and the wholesale one between the Republic of Korea (ROK) and Japan, would be strengthened.
Before being purchased by Richemont, the brand, founded in 1919 and with its production unit based in the capital of Lombardy, was controlled by the Chinese group Gangtai holding, which in 2017 had acquired more than 85 percent of the shares previously held by the Clessidra investment fund of the Bucellati family.
"The USA are still our main market", as the manager has then underlined. Since May 4, in line with the directives issued by the COVID-19 decree, the company has resumed production, which had been completely closed, with all the necessary protective devices. "Employees have masks and goggles while, in order to respect social distancing, we have decided to make people in the offices working in shifts. Moreover, remote working has worked really well. We have equipped ourselves with digital instruments so that people can carry out their own competences autonomously by better choosing timings. A situation already loved by my father; in the past, indeed, 80 percent of artisans worked from home", as Buccellati has explained.
As for the online business which, since last year, has been entrusted to Net-a-porter, a portal of the Ynap group also controlled by Richemont, no performance has been recorded because there had been the stop by e-tailer to deliveries due to the global pandemic. "In terms of products, we are trying to give importance to classical collections, best sellers". Starting from Macri, which reproduces all the iconic features of the Bucellati gold tradition with a particular attention to carving techniques.
On June 8, there will be the official launch of the advertising campaign spring-summer 2020, initially scheduled in April. The brand ambassador Beatrice Borromeo will be the protagonist: she is movie director, journalist and the wife of Pierre Casiraghi, as well as the daughter of Paola Marzotto and the count Carlo Ferdinando Borromeo. The English photographer and movie director Josh Olins will take the pictures. Lastly, the manager has expressed her positivity over the jewelry sector performance for the following months: "the last studies have shown that a relaunch is happening and this is a moment of revenge shopping in Asia and America", as Buccellati has concluded.
In addition, Damiani group, which has recorded a turnover of €200 million and is active in the production and sale of high jewelry, has focused on Greater China. In the following days, the group will be arriving at the Rinascente of Milan. The Made in Italy company has also confirmed it is looking for new companies to acquire.
"In the ROK, where we have never closed, we remained active and things went well with a consumer who has awarded us with double-digit growths”, as the president Guido Damiani has explained to MFF.
"The main markets, apart from Italy, are Japan, where there are openings in progress, while we have just given the go-ahead to an ROK store. We will invest in Greater China with new direct stores, as well as in the former Soviet Union", as Damiani has explained.
(Source: Class Editori)
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