The pandemic has put a dent in many sectors and goldsmithing and jewelry are no exception. Sales fell due to the closure of trade and the lack of tourists. The 2022 recovery brought good news and despite some decline in retail sales in recent months, the sector is “strong and growing rapidly”, driven mainly by international demand. Exports will grow by 10 to 15%, estimates the chairman of AORP, the sector association, who expects 150 million euros to be exported in 2025.
“The sector is strong. The operators I have spoken to tell me that things are going very well, despite a slight decline in retail, which we believe will have improved during this Christmas period,” says João Faria, who emphasizes this. industrial terms the news is very positive. “I’ll give you the example of my company, where we’re growing 25% compared to last year, and that’s the image of the sector,” he says. Success on the international, mainly European, markets contributes to achieving good results.
“The sector is more export-oriented, increasingly outward-looking. There are already companies that export more than half of what they make and some even reach 85 and 90%. And I think there is still a lot of growth potential,” argues the leader of the Portuguese Jewelery and Watchmakers Association (AORP).
It is true that the vast majority of exports go to foreign brands, especially the big French brands. The own brand still has a “very small” weight, but it is an area in which investment is needed, as production for others, especially for European high jewelry, has advantages, in that it “qualifies the country as major producers ” . João Faria acknowledges that own brand “adds value” to products, but recalls that “it is much more difficult” to make a brand successful in international markets than to sell to others. “It is a path that is being followed,” he assures.
Exports amount to around 100 million euros, he estimates, but the sector wants to reach 150 million euros “quickly”. A goal that was set for 2022, but was ‘hindered by the pandemic’. Now the target is 2025.
An internationalization action plan of the sector is being prepared, which envisages investments of the order of two to 2.5 million euros, between June 2024 and June 2025, with the involvement of about 60 companies in participation in the main fairs of the sector, such as Vicenza , in the Italian city of the same name, Bijorhca, in Paris, or Inhorgenta, in Munich, in addition to being present in the most important fashion weeks, namely those in Milan, Paris, London and Tokyo.
“The European market, and in particular France, Germany, Italy and England, are our top priorities, but without forgetting the opening of new markets in the US and Japan, which are very desirable,” emphasizes João Faria.
Commit to training
The lack of labor is one of the biggest problems in the sector, which will open a Cindor hub: a professional training center for goldsmiths and watchmakers in Guimarães. “It is a region with a very strong cluster that represents 75% of our exports. We consider it important to have a local hub to satisfy these industrialists,” says the official, recalling that five of the ten largest jewelry companies are located in Guimarães.
“The space was kindly made available by the Guimarães City Council and the investment, in the order of 3.5 million euros, will be financed by the Institute for Labor and Vocational Training,” explains the President of AORP, noting that The new training hub is expected to become operational in 2025 and launch the first trainees the following year. It will have capacity for 200 students, the same number that leave Cindor in Gondomar every year.
With a view to promoting the sector on the national market, AORP immediately installed, together with El Corte Inglès, an exclusive Portuguese jewelery corner in its store in Vila Nova de Gaia. This is the third edition of this partnership, with the previous two taking place in Lisbon.
Until the end of February 2024, it will be possible to discover jewelry from a dozen national brands, “showcasing the different creative approaches to precious metals, from traditional to contemporary design and the exuberance of luxury”. Amag, Claudiouro, Demarca, Fiordy Studio, GABS Exclusive Jewelery, Gummus, In Silver, Le Love, Mel Jewel, Sopro Jewelery, Tea & Oatcakes and WOF are the brands that will be showcased in the jewelry space.
Source: DN
