WGC unveils new gold collection

The World Gold Council has unveiled a collection and marketing initiative dubbed “Gold Expressions,” aimed at bolstering the global market for Italian-made gold jewelry.

Following its formal launch in January 2004 at the Vicenza Fair, Gold Expressions will be introduced during the year to retail buyers in the U.S., China, India and the Middle East.

Andrea Turcato, managing director of the Vicenza Fair, which cosponsored the recent launch in New York, N.Y., says the initiative comes at a time when Italian gold exports are under increasing pressure from unfavourable exchange rates, increased competition from low-cost producers, and steadily rising gold prices.

The Gold Expressions collection includes more than 400 pieces of gold jewelry. The collection is the result of eight months of product development by a group of 54 Italian manufacturers. To ensure the designs were relevant to consumers in key markets, manufacturers were provided with extensive research involving more than 5,000 gold jewelry consumers in the U.S., China, India, Europe and the Middle East.

The international jewelry director for the WGC, John Calnon, says the Italian experience will surely be faced by other Western gold-producing nations, including the U.S., as the effects of a free market, constantly fluctuating exchange rates, and the search for cheaper manufactured goods continue.

“Although the Council promotes gold in all forms and all markets and does not discriminate from country to country, we freely acknowledge Italy as the centre for innovation and excellence in gold jewelry design,” says Calnon. “A robust Italian gold jewelry business is critical to the growth of global gold consumption. Gold Expressions is a significant event not only for Italy, but for the industry as a whole.”