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MARKET OVERVIEW
1.1 Presentation and definition of the costume jewellery market
According Larousse a piece of jewelry is "an object of precious adornment by matter or by work".
The "costume jewellery" caetgory remains open to several definitions; nevertheless, in this study, we will define costume jewellery as jewelry used as fashion accessories. This category is different to traditional jewellry, which is made with metals (gold and silver for example), diamonds and precious stones.
Materials used to make costume jewellery are extremely various and include, amongst others, base metals, glass, plastic, synthetic stones, semi-precious stones, pearls, ivory, leather, and terracotta.
Similarly, the supply of jewellery is extremely heterogeneous, with a wide product range at different price levels. Consequently, costume jewelry attracts a broad consumer base where all age groups are represented.
The costume jewellery market is growing rapidly in the world and was valued at several billions of dollars in 2018. The the French market is particularly dynamic and accounted for about half a billion euros in 2018.
Finally, the costume jewellery market also benefits from the growth of online sales as distribution channel; in France in 2018 this distribution channel grew the fastest.
1.2 The booming global jewellery market
The world jewellery market is strong and is expected to remain so in the coming years. As shown in the graph below, based on data published by Paul Zimnisky (***), the world jewellery market amounted to $*** billion in ****. It is expected to reach $*** billion in **** and $*** billion in ****, which corresponds to an ...
1.3 A growing French costume jewellery market
Francéclat estimates the French jewellery market to be worth €*.* billion in ****. Moreover, jewellery (***) recorded €*.* billion euros in sales in ****.
Source: ****
In parallel to the world trend, the costume jewellery segment represents an important and growing chunk of jewellery sales in France. As we can see in the graph below published ...
DEMAND ANALYSIS
2.1 Demand driven by a young and increasingly price-conscious segment
According to an OpinionWay poll for BIJORHCA PARIS, **% of French people spent less than €*** on jewellery in ****, and the average expenditure was €***.
Source: ****
In the graph above, this trend of low spending per year is confirmed: a clear majority of French people spend less than ** euros on jewellery each year.
The ...
2.2 Increased demand for independent brands
There are two consumer trends in the costume jewellery segment, described below.
Leading brands gaining traction
Firstly, consumers buy an increasing amount from the three leading brands on the market. The market share for these brands in the costume jewellery sector increased from **.*% in **** to **.*% in ****. The arrival of costume jewellery ...
MARKET STRUCTURE
3.1 A fragmented and highly competitive market
According to Francéclat, the jewellery and goldsmithery sector included *,*** companies in France in ****.
In ****, the companies with two employees or less accounted for almost **% of total companies in the sector, while companies with more than ** employees accounted for only *%.
Source: ****
The costume jewellery sector includes a wide variety of actors ...
3.2 Widely imported products
If we look at the origin of the products sold in France, we can see that a clear majority of them, nearly **%, are imported. However, in terms of costume jewellery sold in France by country, we find France (***) at top. These figures can be explained by the presence of numerous local ...
3.3 Distribution channels show contrasting trends
The distribution channels for costume jewellery are multiple and have experienced rather mixed results in recent years.
Jewellers in towns and department stores: The traitional canal for jewellery continues to suffer from a decline in sales that began several years ago; in **** sales dropped *%. Their poor results follow the negative trend ...
3.4 E-commerce expanding but still very limited
Online sales are growing and represent *% of the market. Yet, the upside potential for online sales remains limited. For instance, online sales misses out on customer advice and the fact that the customer has no chance to try on the jewelry. For this reason, pure-players have had to open shops as ...
ANALYSIS OF THE OFFER
4.1 A very wide variety of products
It is difficult to present costume jewellery in an exhaustive manner due to the diversity of products on offer. However, products can be segmented according to the categories used to segment a classic jewelry offer, presented below.
Type of jewelry
Earrings ;
Rings, bracelets;
Charming;
Necklaces
Pendants;
Piercings;
Brooches;
Others.
Demographics of ...
4.2 Price characteristics of costume jewellery
According to Fashion Network prices for costume jewellery range between €** and ***. Moreover, compared to traditional jewellry, custome jewellry is distinguished by two factors:
Lower price levels
Indeed, we have seen previously that costume jewellery in **** accounted for more than half of the jewellery sales in France in volume; however, this corresponded ...
REGULATIONS
5.1 A supervised use of materials for the creation of jewellery
According to the Directorate General for Competition, Consumer Affairs and Fraud Control, DGCCF . Costume jewellery is subject to regulation because of the metal toxicity used in their composition, including metals such as lead, nickel, and cadmium.
The manufacturers of jewellery must therefore comply with the rules of jewellery composition and the ...
5.2 The tax on clock-production, jewellery, goldsmithery, and tableware products
The WJGT tax (***)
All businesses that manufacture or retail watches, jewellery, gold accessories, and tableware products (***) must pay a tax on these products.
Manufacturers of costume jewellery are exempt from this tax if they sell their products directly to consumers. In the case of sales to distributors and other professionals in ...
POSITIONING OF THE PLAYERS
6.1 Segmentation
- Pandora
- Moa
- Bala Boosté
- Maty
- Jollia
- Agatha
- Taratata
- Gas Bijoux
- Smizze
- Bershka France
- Promod
- Jolie Demoiselle
- 24sevres
- Mylittlefantaisie
- Cécile et Jeanne
- Emma & Chloé
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Analysts
chargé d'études économiques, Xerfi
Hugo Schott
Associate Consultant
Mathieu Luinaud
PhD Industrial transformations
Robin Charbonnier
Analyst
Pierre Doussau
President Ross Alumni Club France
Arnaud Walter
Analyste de marché chez Businesscoot
Amaury de Balincourt
Consultant
Pierrick Cudonnec
Project Finance Analyst, Consulting
Maelle Vitry
Etudiante en Double-Diplôme Ingénieur-Manager Centrale
Héloise Fruchard
EDHEC
Imane Essadiq
Auditeur
Vincent Defrenet
Eva-Garance Tison
Market Research Analyst
Michela Grimaldi
Market Research Analyst @Businesscoot
Azelie Prigent
Market Research Analyst @Businesscoot
Cantiane Gueguen
Consultant
Jules Decour
Alexia Vacheron
Emil Ohlsson
Anna Oeser
Gabriel Salvitti
