Luxury Jewelry Market Future Demand 2026 By Major Players Gucciogucci S.P.A., Harry Winston, Inc., Societe Cartier, Tiffany & Co., Compagnie Financiere Richemont SA, Buccellati Holding Italia SpA, Graff Diamonds Corporation, Bulgari S.p.A, K. Mikimoto & C

Global luxury jewelry industry is as dynamic as it is fast growing. Global luxury jewelry market is highly fragmented and mostly driven by consumer behavior and fashion trends. Therefore, jewelry manufacturers need to be focused on changing trends and developments to compete in global and local market. Integration of new technologies such as Computer Aided System (CAD) in the manufacturing of jewelry is expected to aid in growth of the market. CAD technology makes complex designs possible and allows manufacturers to create new jewelry designs, which is otherwise challenging to design manually.

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Several companies that manufacture luxury jewelry are adopting various organic and inorganic growth strategies, in order to sustain their market position. Mergers, acquisitions, expansions in various geographies, and new product launches are some of key strategies followed by major players in the market. For instance, in September 2018, Fosun Group, a China-based investment and operating conglomerate, acquired 80% of the International Gemological Institute (IGI). Since 1975, IGI offers gemmological training, diamond grading, and gem and jewelry certification through 23 laboratories and schools worldwide.

Major Players in the Global Luxury Jewelry Market -

Some of the major players operating in the global luxury jewelry market include Gucciogucci S.P.A., Harry Winston, Inc., Societe Cartier, Tiffany & Co., Compagnie Financiere Richemont SA, Buccellati Holding Italia SpA, Graff Diamonds Corporation, Bulgari S.p.A, K. Mikimoto & Co., Ltd., and Chopard International SA among others.

Market Dynamics

Among material, diamond segment accounted for largest revenue share in the luxury jewelry market in 2017, owing to rising demand for diamonds in rings. To cater to this demand, key players are introducing diamond engagement ring collections. For instance, in September 2018, Tiffany & Co. introduced new engagement ring line consisting of diamond rings. Among product type, necklace segment accounted for the largest market share in 2017 and is expected to retain its dominance, owing to lucrative demand for neckwear in Asian countries such as China, India, and Japan.

Europe dominated the market in 2017 and Asia Pacific is projected to be the fastest growing region in the global luxury jewelry market over the forecast period. Government initiatives are playing important role in growth of luxury jewelry in Asia Pacific. For instance, in India, The Gems and Jewelry Export Promotion Council (GJEPC) signed a Memorandum of Understanding with Maharashtra Industrial Development Corporation (MIDC) to build India’s largest jewelry park in Mumbai with overall investment of US$ 2.1 billion in 2018.

Detailed Segmentation:

Global Luxury Jewelry Market, By Material:
Gold
Silver
Diamond
Platinum
Others

Global Luxury Jewelry Market, By Product Type:
Necklace
Ring
Bracelet
Hair ornaments
Earring
Leg & Feet ornaments
Others

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