Exclusive interview with Mr. Valerio Soldani, Trade Commissioner of Italy to the United Arab Emirates
What are the key objectives for Italy’s participation in the 54th Middle East Watch & Jewelry Show?
The Watch & Jewelry Middle East Show, organized by Sharjah Expo center, has been, since 1993, the first and most consolidated fair in the United Arab Emirates dedicated to jewelry, goldsmithing and watches. The main characteristic of the fair is that of being predominantly a B2C (business to consumer) event without excluding the presence of professionals (buyers) not only from the United Arab Emirates but from the Gulf Area, India and several relevant Asian markets. Italy’s participation focuses on several factors, first and foremost is to explore and access the Middle Eastern market, which is known for its appetite for luxury goods and the growing jewelry demand. The Italian participation also helps Italian companies to showcase Italian craftsmanship and design which highlighting Italy's heritage in these industries. It also encourages the connection of potential business partners, distributors, and retailers in the region to establish long-term relationships with Italian businesses.
The presence of Italian companies is mainly to generate direct sales and increased visibility among potential buyers and collectors also enhancing mutual appreciation for artistry and design quality.
How does this event fit into Italy's broader strategy for promoting its luxury goods sector in the Middle East?
The Middle East is a key market for luxury goods, with a high demand for premium watches and jewelry. Participating in this 54th ME Watch & Jewelry Show allows Italy to directly engage with affluent consumers and key stakeholders. Euromonitor forecasts a 4.2 billion dollars sales market in the next four years, adding almost one billion from 2024 to 2028, with only 35% of the retail market concentrated among the top three players.
Our joint promotional investment with our partners CNA, in the 54th ME Watch & Jewelry Show provides a platform to highlight the quality, design, and craftsmanship of Italian luxury goods, reinforcing Italy’s brand identity and its artisanal tradition. Italian brands get the opportunity to establish new partnerships that enhance their market presence and distribution channels. It assists in enhancing Italy’s image as a leader in luxury and lifestyle and promoting cross-border relationships.
Overall, participating in the 54th ME Watch & Jewelry Show supports Italy’s long-term strategy of solidifying its position in the Middle Eastern luxury market while adapting to regional dynamics, and further fostering the valuable dialogue among Italian companies, local designers, final customers, and leading industry players.
What impact do you expect Italy's participation to have on trade relations between Italy and the UAE?
The participation at the 54th ME Watch & Jewelry Show will have a positive impact on the trade relationships between Italy & UAE. Opportunities to increase export leading to a rise in trade volume between the two countries. According to TDM, Italy is one of UAE’s main trading partners in Europe. Bilateral Trade has seen significant growth in different sectors such as Jewellery, construction and Technology. In June 2024, trade is equal to approximately 4.8 billion Euros, growing by 26% compared to the same month in 2023. Italian exports are equal to approximately 3.8 billion Euros and imports equal to 1 billion Euros with a positive trade balance of 2.8 billion €.
Italy confirms itself as the 10th supplier of the UAE with a market share of 3% and the second EU supplier after Germany (3%). The main supplier of the UAE remains China, with a market share of 20%. Jewelry is our first export voice in the UAE, more than 1.1 billion euros, poised to grow double digit in 2024 according to the latest export data on the first half of 2024 with a +11% y.o.y. increase.
In what ways does Italy’s heritage in jewelry crafting influence its presence at this show?
Italy is known for its exceptional craftsmanship and attention to detail. This heritage allows Italian brands to showcase high-quality, intricate designs that resonate with luxury consumers in the Middle East.
The uniqueness of Italian jewelry often blends traditional techniques with modern aesthetics. The “Made in Italy” label is synonymous with quality, elegance, and exclusivity, boosting Italian brands’ credibility at the show.
Many Italian jewelers emphasize ethical sourcing and sustainable practices, aligning with modern consumer values, which can be particularly appealing in the Middle Eastern market.
By leveraging its jewelry crafting heritage, Italy not only enhances its product offerings at the show but also strengthens its overall brand image in the competitive luxury market.
Can you highlight some of the Italian brands participating in the show and what makes them unique?
We are welcoming more than 43 prominent Italian jewelry manufacturers at the Italy Pavilion during the 54th Middle East Watch & Jewelry Show. This edition Italian companies have increased in number with a total of 49 spaces since the last edition, the size of the pavilion has increased which reflects the importance of the UAE market to Italian Jewelers & craftsmen.
How do Italian craftsmanship and innovation stand out in the global jewelry market?
Italian jewelry is renowned for its elegant, timeless designs, and using techniques passed down through generations. It is often characterized by bold creativity and unique artistic expression. This distinctive style appeals to a wide range of consumers seeking luxury and individuality. Many Italian jewelers are committed to sustainable practices, from sourcing ethically to employing environmentally friendly techniques. This focus on sustainability resonates with increasingly conscious consumers. the combination of exceptional craftsmanship, innovative design, and a strong cultural heritage positions Italian jewelry as a leading force in the global market.
Are there any partnerships or collaborations between Italian and UAE businesses that you would like to highlight?
We are not in the position to reply to this question
How does the event foster networking opportunities for Italian artisans and local businesses?
Italy is renowned for its artisanal traditions. This event provides a platform to highlight the quality, design, and craftsmanship of Italian luxury goods, reinforcing Italy’s brand identity.
It also showcases Italian craftsmanship and design in watches and jewellery, highlighting Italy's heritage in these industries. Our partners at CNA, for example, have just started a collaboration with Sharjah young jewelry designers and this could be one more achievement in fostering the strong relationship among the two worlds.
How does Italy’s participation contribute to cultural exchange between Italy and the UAE?
We are not in the position to reply to this question
What initiatives are being undertaken to promote Italian culture and heritage through this event?
Italy and the UAE are actively pursuing new initiatives to strengthen the trade relations between the two countries. Several trade business trips (FLORMART, Salone Nautico di Genova, & Marmomac) and exhibitions have been organized by our team at ITA Dubai to connect Italian and Emirati businesses, showcasing opportunities in various sectors such as technology (WETEX, Expand North Star 2024), construction (Big 5), fashion (MODA Italia, Downtown Design) and jewelry (54th Middle East Watch & Jewelry Show in Sharjah). Other activities have been also organized to promote mutual investments, aiming to encourage Italian companies to invest in the UAE, to maximize their effectiveness in the market and the GCC region, upgrading their commercial effort from indirect exports to a direct sales presence, and vice versa from Dubai investors to Italian industrial ecosystems. There’s a growing attention especially in emerging sectors like innovation & Technology, Construction and Energy, and some sectors peculiar to the Made in Italy glamour and excellence industries.