Summary of our market study

The global fashion jewelry market, even after a significant sales drop due to COVID-19 in 2020-2021, showed a strong recovery in 2022, driven by trends like increased online sales, men's ranges, and innovative materials. In 2020, the global jewelry market stood at $228 billion and is predicted to surge by 34.7% to $307 billion by 2026. Specifically, fashion jewelry sales amounted to $40 billion and are forecasted to climb to $52 billion in 2023 and further to $110 billion in 2035. Spain's market echoed this rebound with jewelry and watch retail sales bouncing to €1.5 billion in 2021, reflecting a 28.8% upswing from the previous year.

The sector is concentrated, with the top five companies seizing 42% market share, at the expense of independents. Spanish consumer trends include a preference for necklaces, earrings, bracelets, and rings, with women accounting for 85% of purchases. Seasonality also influences sales, peaking around Christmas. The costume jewelry trade balance in Spain has been historically negative but is narrowingly, with China standing as the leading supplier. Lastly, ecological aspects gained prominence, with brands like Ana Luisa leveraging recycled materials and transparency to cater to rising environmental consciousness among consumers.

The Spanish Market Dynamics for Costume Jewelry

In recent years, the Spanish market for costume jewelry has witnessed a variety of trends that reflect the changing consumer behavior and broader economic context. The demand for costume jewelry in Spain is notably strong, with a particular penchant for necklaces, earrings, bracelets, and rings as the most sought-after categories. Women dominate the consumer base, accounting for 85% of all jewelry purchases, and an interesting trend has emerged where a significant portion of these purchases—30%—are self-gifts. The growth continued modestly into 2022 with a 7% increase, resulting in an estimated market volume of about 1,600 million euros.

Specifically, costume jewelry accounts for 56% of jewelry and watch sales, indicating its significant contribution to the overall market. One of the most striking seasonal patterns for costume jewelry is the surge in interest between late November and December, aligning with the holiday season, suggesting that many consumers view costume jewelry as an ideal gift option. When we look at the supply side, around 2,300 manufacturers were busy with the production of costume jewelry in Spain by 2020. However, figures also demonstrate a downward trend in the number of companies in the industry over the past decade. Despite this, some companies have seen growth, particularly Greve Invest, which has emerged as a leading manufacturer with sales touching ten million euros and an increasing workforce. In terms of market distribution, specialized chains represent the lion's share, accounting for around 56% or approximately between 845 million euros of sales. Independent retailers follow with a market share equating to 21%, whereas department stores and other channels make up 22.4%.

The market is also experiencing a trend towards consolidation as the top five chains now represent around 41% of the sector's sales. Digital transformation is reshaping the distribution with the online presence of costume jewelry retailers. The Internet channel is expanding, albeit with challenges such as lack of personalized customer service and trust issues. Nonetheless, with the ascent of online giants and the popularization of cross-channel strategies that seamlessly integrate e-commerce with physical stores, a shift towards digital shopping is anticipated in the Spanish costume jewelry market. Lastly, the aspect of environmental consciousness is becoming increasingly relevant. Consumers demand transparency and responsible sourcing.

A Glimpse at the Pioneers of Spain's Costume Jewelry Scene

The costume jewelry landscape in Spain is a tapestry of creativity and diversity, woven together by the ingenuity and entrepreneurial spirit of its key players. These manufacturers not only craft delightful pieces that adorn thousands but also steer the growth trajectory of this vibrant industry. Let's delve into the artistry of some of these storied companies that have made a significant mark on the Spanish costume jewelry market.

  • Greve Invest takes the helm with its innovative designs that have captured the imagination of a modern clientele. As a leader in the market, Greve Invest has melded traditional craftsmanship with contemporary aesthetics, being a testament to progressive artisanship in costume jewelry.
  • Industrias Cristian Lay, a stalwart in the sector, has continually evolved its offerings to cater to ever-changing consumer tastes. With its roots firmly planted in Spanish heritage, the brand has globally expanded, showcasing Spanish flair on the international stage.
  • De Pablos e Hijos Accesorios Metalico remains a strong competitor with its unique blend of quality and design. Their fine attention to detail and commitment to excellence have made their accessories a staple for those seeking out distinctive pieces.
  • Redstring, another significant contributor, weaves in the essence of Spanish vibrancy into its pieces. Their collections are reflective of a deep understanding of modern customer preferences and the evergreen appeal of costume jewelry.
  • Lastly, Sikno Jewellery has carved a niche for itself with its eclectic and affordable jewelry options. The brand has managed to captivate a younger demographic, being at the forefront of trends and affordable luxury.

Together, these companies form the backbone of the costume jewelry market in Spain, driving innovation and setting trends that resonate across oceans. From the meticulous crafting of each piece to their market acumen, they represent the rich legacy and promising future of Spain's costume jewelry industry.

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Summary and extracts

1 Market overview

1.1 Definition and presentation

Fashion jewelry is made up of a multitude of jewels characterized by inventiveness of form, material and design, and by the absence of precious materials (gold, silver, diamonds, sapphires, etc.).

China remains the world's leading market, and wearing costume jewelry is extremely common in certain Asian countries. The second largest market is India, followed by the United States and, finally, Europe.

In Spain, the main manufacturers in the sector are Industrias Cristian Lay, Creve Invest, De Pablos e Hijos accesorios Metalicos, Redstring and Sikno Jewellery. [El Economista]

The sector is made up of specialist chains, independent retailers, heavyweights with a presence in Spain and abroad, as well as online pure-players, which have grown rapidly in recent years. The top five companies account for 42% of total sales, and their market share is growing at the expense of independents, who now account for just a quarter of the market.

Despite a sharp drop in sales due to the appearance of covid-19 and health restrictions in 2020-2021, the latest industry figures show a marked improvement in sales in 2022. Among the most noteworthy trends of recent years are the ever-increasing growth of online sales, which are driving the sector, the development of a men's range and the use of new materials.

1.2 The booming global jewelry market

The global jewelry market is in good health, and should continue to be so in the coming years. As shown in the chart below, the global jewelry market will be worth $*** billion in **** , and is expected to grow by **. *% to $*** billion by ****.

Jewelry market value forecast World, ****-****, in billions of ...

1.3 The Spanish market

According to the DBK Sector Observatory, retail sales of jewelry and watches recorded a strong recovery in ****, supported by improved private consumption behavior and the reactivation of tourism activity, following the more than **% drop in activity in ****. As a result, the market will be worth *.* billion euros in ****, **.*% more than in ...

1.4 Spain's trade balance is heavily in deficit

The UN Comtrade database provides access to export and import figures for all categories of manufactured products and raw materials. For the chart below, the selected category is "Articles of jewelry and parts thereof, of precious metal or of metal clad with precious metal"code ****. Spain's trade balance is negative, although ...

2 Demand analysis

2.1 Spanish consumption of costume jewelry and jewelry accessories

The most successful jewelry in Spain:

According to Google Trends data, the most popular jewelry categories in Spain are in this order: necklaces, earrings, bracelets and rings.

Most popular jewelry Spain, ****, Google trends index Source: ****

Consumption by gender :

Women buy more jewelry than men (***), with **% of purchases being self-gifts.

Jewelry purchases ...

2.2 Seasonality

The graph below shows the frequency of weekly Google searches for the term "costume jewelry". We can see peaks between the end of November and the end of December, corresponding to the run-up to Christmas and the festive season, showing that costume jewelry is a gift option to put under the ...

2.3 Geographical breakdown of demand

The regions where interest in the search term "bisuteria" is highest are Aragón, Principado de Asturias, País Vasco and Extremadura .

Source: ****

3 Market structure

3.1 Costume jewelry value chain

Below is a simplified value chain for the costume jewelry sector:

Jewelry creation/design: this stage generally takes place in the brand's offices. A wide variety of players are involved in this stage: fashion houses, jewelry designers, craftsmen... Jewelry manufacturing / assembly : the designs created and imagined in the previous stage are ...

3.2 Spanish costume jewelry production

Number of costume jewelry companies in Spain :

Growth in the number of costume jewelry and jewelry manufacturing companies Spain, ****-**** Source: ****

This graph shows the annual evolution of the number of companies dedicated to the manufacture of jewelry, costume jewelry and similar items in Spain between **** and ****. In the latter year, ...

3.3 Distribution channels

The main distribution channels :

Breakdown of sales by distribution channel (***) Spain, ****, in Source: ****

Specialized chains accounted for around **% of the market in ****, with sales value of *** million euros, a share that is tending to increase. Independent stores recorded sales of around *** million euros, representing **% of the market. Department stores and other ...

4 Offer analysis

4.1 A wide range of products

It is difficult to give an exhaustive presentation of costume jewelry due to the diversity of products on offer.

We can, however, segment the products according to the classic categories used to segment a classic jewelry offering:

Jewelry type:

Earrings ; Rings, bracelets ; Charms ; Necklaces ; Pendants ; Piercings ; Brooches ; Others.

Consumer gender:

Male ...

4.2 Characteristics of costume jewelry prices

Trends in consumer prices for costume jewelry:

In recent years, prices of costume jewelry and jewelry items have risen sharply in Spain, up **.*% in two years, against a backdrop of rising raw material and transport costs and inflation. Compared to other European countries, prices are **% higher than the European average, and ...

4.3 The arrival of luxury brands on the costume jewelry market

In recent years, luxury brands have been taking an interest in the fashion jewelry market, offering a range of this type of jewelry.

An emblematic example of this trend is the range of costume jewelry sold by Dior. Far more expensive than lesser-known brand equivalents, this jewelry enables Dior to generate ...

4.4 The growing importance of environmental issues

The importance of consuming ecologically and responsibly has been growing in recent years, and the jewelry market is no exception. Over the last few years, a number of brands have emerged, exclusively online, that present themselves as more ethical than their older competitors.

Ana Luisa

Ana Luisa is an American jewelry ...

5 Regulations

5.1 Legislation

In Spain, legislation relating to costume jewelry focuses primarily on consumer protection and product safety. Here are some of the main laws and regulations that apply to costume jewelry:

General Law for the Defense of Consumers and Users: This law applies to all consumer products, including costume jewelry. It defines the ...

6 Positioning the players

6.1 Player segmentation

  • De Pablos e Hijos Accesorios Metalicos SL
  • Industrias Cristian Lay SA
  • Greve Invest SL (Vidal & Vidal)
  • Moa
  • Rand Diffusion (Bala Boosté)
  • Agatha
  • JLN Taratata
  • Thom Group (Smizze, Marc Orian, Histoire d'or)
  • Bershka
  • Promod
  • Christian Dior Couture

List of charts presented in this market study

  • Forecasting the value of the costume jewelry market
  • Jewelry market value forecasts
  • Market size trends in jewelry (including costume jewelry) and watches
  • Trends in the estimated size of the costume jewelry market
  • Evolution of Spain's trade balance on the jewelry market
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Latest news

Kim Jones has changed everything at Dior Homme - 28/06/2023
  • Kim Jones has been artistic director of Dior's men's collections for five years.
  • Dior's sales have quadrupled in five years.
  • By the end of this year, Dior plans to have 202 stores, up from 176 at present.
  • Since 2018, new Dior boutiques have integrated the women's and men's universe.
  • The Saddle bag for men has become a bestseller.
  • The B27 sneaker model was the sales record when it was released in 2020.
Sales of watches and jewelry in France explode in 2022 - 31/03/2023
  • Sales of watches and jewelry: 20% increase by 2022 to 7.5 billion euros in France.
  • French watch and jewelry production in 2022: 5 billion euros, up 29%.
  • Watch production in 2022: sales of 381 million euros, up 12% on 2021. (2,968 jobs)
  • Jewelry production in 2022: 31% jump to 4.6 billion euros.
  • French watch and jewelry production between 2018 and 2022: more than doubled, from 2.4 to 5 billion euros.
  • Creation of over 2,000 industrial jobs in the sector between 2018 and 2022.
  • Exports of watches and jewelry in 2022: 9.5 billion euros, up from 4.7 billion euros in 2020 and 7.5 billion euros in 2019.
Promod: frugality strategy bears fruit - 22/03/2023
  • - 2016: 1,000 stores in 44 countries
  • - 2021: 418 stores (410 in France, 16 in French overseas departments and territories, and the remainder in Belgium, Luxembourg and Switzerland)
  • - 2019: 493 million sales
  • - 2021: 342 million sales
Balaboosté to open a dozen stores in France by 2023 - 23/02/2023
  • Year Balaboosté, owned by the Rand Group, was founded: 1995
  • Target number of stores under the banner by the end of 2023: 25
  • Current number of stores in France and Luxembourg: 16
  • Store openings in April: Nice Etoile
  • Other locations planned: Rennes Alma, Dijon Toison d'Or, Bègles, Aéroville and Créteil Soleil
  • Openings in the second half of 2022: Rosny 2 and Mauritius
  • Number of dealers in Europe: 400
Moa, the fashion accessories chain, is aiming for 250 stores by 2025. - 23/03/2022
  • Today Moa has 180 stores
  • To open a Moa store, you need a 70 m2 location in a catchment area of at least 30,000 inhabitants, and an average shopping basket of 20 euros.
  • The sales target for a single store is 350,000 euros.
  • Click and collect is currently being developed
Thom Group and Renaissance Luxury take over D'Agatha - 02/03/2021
  • Agatha's receivership (1974) in November 2020
  • Agatha taken over by Renaissance Luxury and Thom Group on February 26
  • 400 employees and 120 stores at the time of the receivership
  • Joint bid for around 35 stores, the brand's logistics, its Spanish subsidiary and the brand itself
  • 60 million euros in annual sales in 2019, up from 72 million in 2016

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

De Pablos e Hijos Accesorios Metalicos SL
Industrias Cristian Lay SA
Greve Invest SL (Vidal & Vidal)
Moa
Rand Diffusion (Bala Boosté)
Agatha
JLN Taratata
Thom Group (Smizze, Marc Orian, Histoire d'or)
Bershka
Promod
Christian Dior Couture

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