Russian jewelry market is ready to grow, says CIBJO president

CIBJO President Gaetano Cavalieri has predicted strong growth for the Russian jewelry market.

“Russia is an up and coming consumer market of great proportions,” Cavalieri said at JUNWEX, the 13th International Jewelry Exhibition, which was held Feb. 2 to 6 in St. Petersburg. “With the average income increasing, one can expect that the demand for luxury goods will rise, and, accordingly, the demand for jewelry.”

Cavalieri attended the show as a guest of Restec, the show organizer.

Cavalieri said that while Russia is known for its rich history of jewelry making, current developments in Russian jewelry design and manufacturing are less known outside of the country’s borders.

“From what I have seen during my visit is that Russia has tremendous potential as jewelry producer, but there is still some way to go before it can fully reap the benefits of that potential. Russian design is still not fully oriented towards exports, and the Russian government has not removed all those barriers that currently may be holding the industry back,” Cavalieri said.