Some luxury jewellery manufacturers are pursuing organic and inorganic expansion methods in order to maintain their market position. Mergers, acquisitions, geographic growth, and new product launches are some of the primary methods employed by market leaders. The high cost of luxury jewellery is a key impediment to the expansion of the luxury jewellery business. Due to the high cost of luxury jewellery, demand is confined to a select group of buyers. Growing demand for men's jewellery indicates a possible opportunity for market expansion throughout the forecast period. Women are traditionally more inclined than males. This pattern is shifting, owing to men's increased emphasis on self-grooming and aesthetic attractiveness. Furthermore, the growing impact of social media has resulted in widespread adoption of the current fashion trends among guys. Such elements are driving up demand for men's luxury jewellery such as bracelets, rings, necklaces, and others. As a result, manufacturers are focusing on these items to get a competitive advantage in the market.
According to Coherent Market Insights the global Luxury Jewelry Market was valued at US$ 56.02 Bn in 2020, and is expected to reach US$ 92.35 Bn by 2028, exhibiting a CAGR of 7.1% during the forecast period.
Market Players in the luxury jewellery Industry:
1. Gucciogucci S.P.A.,
High fashion. Italian style. Traditional craftsmanship. Global consciousness. Gucci embodies all these characteristics, producing exquisitely crafted luxury goods with a thoroughly modern sensibility. Ever since Guccio Gucci founded the house in Florence in 1921, the brand has been a destination for the world’s most discerning men and women. Gucci represents the best of Made in Italy with its inimitable combination of opulence, high artisanry and contemporary glamour. In Mar 27, 2023 Gucci Partners with Yuga Labs for NFT Fashion Line
2. Harry Winston, Inc.
Harry Winston manufactures Jeweler and Watchmaker. The company was founded in 1932, headquartered in New York, U.S.
3. Tiffany & Co.
Tiffany & Company is an American multinational luxury jewelry and specialty retailer headquartered in New York City, United States. Tiffany & Company is an American multinational luxury jewelry and specialty retailer headquartered in New York City, United States. Tiffany &
4. Buccellati Holding Italia SpA
The company is Manufacturer of jewelry and silver products. The company through its retail stores internationally offers jewelry and silver products that include bracelets, brooches, mobile phone covers, earrings, necklaces, pendants, rings, luxury watches, bowls, candlesticks, centerpieces, frames, flatware, key holders, table accessories, tea/coffee sets & vases. The company was founded in 191, headquartered in Italy.
5. Bulgari S.p.A
Bulgari S.p.A. engages in the design, production, and sale of jewellery, watches, accessories, perfumes, and skincare products. The company was founded in 1884, headquartered in Italy.
*Definition-The global luxury jewellery market is both active and rapidly expanding. The global luxury jewellery industry is extremely fragmented, with consumer behaviour and fashion trends driving the majority of sales.
