Italian jeweller Gi Oro lands in Azerbaijan
The Arezzo-based Italian jewellery company founded in 1996 by the brothers Enrico and Alessandro Giustini is now 20 years old, and its business is entirely export-based. "Yes, 100% of our revenue is now generated on foreign markets," stated Alessandro Giustini to FashionNetwork at the Gold/Italy trade fair. In 2015 the company's revenue was €1 million, equivalent to a 6% growth over the previous year, and the 2016 forecast is for a repeat performance.
Gi Oro manufactures slave-bangle and other types of bracelets, necklaces, chokers, earrings and pendants in yellow, white and rose gold. Customers are also able to personalise their jewel. "Our products are comprehensively finished and of the highest quality, bucking a trend emerged within the jewellery industry in recent years, whereby products are manufactured with increasingly less gold, using instead combinations with materials such as brass and steel, or with leather inserts and fashion details," stated Giustini.
The Middle East, and Dubai in particular, is Gi Oro's leading market, accounting for 60% of its business, followed by the USA and Panama.
"The big news is that this year we have broken into Azerbaijan, acquiring 10 clients there. It is a truly strategic country, from where we can serve also Uzbekistan, Tajikistan and all the neighbouring former Soviet republics. Dubai is instead the base from which we serve North Africa, for example Algeria and Egypt. Altogether we are present in over 100 multi-brand stores in 3 continents," concluded Giustini.
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