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Summary and extracts
1 Market overview
1.1 Definition and presentation
Jewelry refers to the art of making jewels and ornaments (jewelry) using precious stones, gemstones, pearls, ornamental stones and metals such as gold, silver or platinum. The market can be segmented according to the range of jewels produced, but also by type: rings, bracelets, necklaces, earrings, timepieces, etc.
Worldwide sales of jewelry are estimated at over $353 billion in 2023. French jewelry is world-renowned for its creativity, craftsmanship and elegance, with the presence of many world-famous French jewellers (Van Cleef, Cartier, Alexandre Reza, etc.).
The jewellery market is currently affected by the relocation of production facilities to Asia. Although this trend is less pronounced for high-quality jewelry, manufacturers are concerned about this trend. That's why, in 2006, they created the"Joaillerie de France" label, a genuine promotional tool for manufacturers, particularly in the export market. It's an indisputable way of promoting and authenticating French jewellery-making expertise, and clarifying the origin of manufacture. The label has been a great success since its inception, with more than 10 jewelers receiving the label at the 2012 BaselWorld show.
China's economic boom represents a significant potential source of new customers for French jewelry. This upward trend in exports, together with the renewed attractiveness of the sector, has led to a considerable increase in sales over the past two years, with sales of French jewelry manufacturers forecast to grow by 17% by 2023 .
While many sectors are suffering the long-term consequences of the pandemic, and are hampered by the energy and inflationary crisis, the jewelry sector is booming, and offers excellent growth prospects over the coming years.
1.2 A growing global market
The jewelry market is doing well, estimated at ***.* billion euros in ****, up *.*% on ****. According to specialists, the compound annual growth rate should be *.*% over the period ****-****, reaching ***.* billion in ****. The market remains highly dynamic, despite the pandemic and the crisis in Ukraine.
Global jewelry market size World, ****-****, in billions ...
1.3 French production on the rise
The value of jewelry production in France has been on an upward trend since ****, with a slight slowdown in growth in ****, due to the pandemic, but an unprecedented recovery in ****, showing growth of **.*% compared to ****. In * years, the sales index for jewelry manufacturers has risen from ***.* in **** to ***.* in ****, representing average ...
1.4 Interview with Alexis Blez, co-founder of 58 Facettes
Marine: Welcome to the Niche, the podcast that analyzes the niche market with the entrepreneurs who are shaking things up. I'm Marine and I work at Businesscoot, the start-up that's dusting off market research. Before you start, subscribe to our podcast on Spotify and Apple Podcast. And now for today's niche, ...
1.5 The impact of COVID-19 on the jewelry market
The **** pandemic had a major impact on the luxury goods market, and on the jewelry segment in particular. Indeed, the closure of shops in France and around the world during the various confinements caused jewelry sales to plummet. This decline can be explained by the fact that most sales in this ...
2 Demand analysis
2.1 French household consumption of jewelry items
Seasonal purchasing
Trends in interest in "jewelry" searches on Google France, **** - ****, index Source: ****
The graph above represents the interest in searching for a term on Google (***), from February **** to April ****. The index of *** corresponds to the maximum number of searches, while * means insufficient data. It can be seen that interest ...
2.2 The most popular types of jewelry
Most worn jewelry France, ****, % of total Source : YouGov The chart above shows the types of jewelry most worn in France in ****. Rings are the jewelry most worn by the French, with **% of French people claiming to wear rings. Necklaces are worn by **% of French people, and bracelets and earrings by **% and ...
2.3 Jewelry budget
Average jewelry budget France, ****, %, %, %, %, %, %, %, %, %, %, %, % Source: ****
The average budget French people spent on jewelry in **** was mostly over *** euros, with **% of jewelry-buying individuals declaring this amount for this expenditure item of their annual budget. This was followed by budgets between ** and *** euros (***).
The lowest budget bracket is between *** and *** euros, with "only" ...
2.4 Women and young people, the heart of the jewelry market
Women:
Women consume far more jewelry than men in France. In fact, the core target of traditional jewelry is women aged between ** and **, belonging to relatively high socio-professional classes. Most of these women are the ones who buy their own jewelry, and don't buy it as gifts. Their profile is therefore ...
2.5 France's favorite jewelry brands
The graph below is based on OpinionWay's survey of French people's favorite brands in February ****. For each brand, the percentage corresponds to the proportion of respondents who answered "yes". Histoire d'Or is the favorite jewelry brand of the French: **.*% of respondents said they liked it.
French people's favorite jewelry brands France, ...
3 Market structure
3.1 Distribution channels
Against a backdrop of post-covid recovery, sales exploded between **** and ****, with total growth of **% over the period. This growth mainly benefited specialty stores (***), with department store sales growing "only" by *% and those of the Maisons de la place Vendôme also by +*%.
Source: ****
3.2 Breakdown of jewelry manufacturers' sales
Sales structure of jewelry and goldsmiths' manufacturers France, ****, in Source: ****
The sales structure of jewelry and goldsmiths' manufacturers in France in **** is dominated by subcontracted manufacturing (***), with no less than **% of sales coming from the manufacture of jewelry by companies for their own collections. Another **% of sales come from subcontracting for ...
3.3 Jewellery market news
In recent years, the jewelry market has become increasingly concentrated, with some players growing at the expense of others, but also as a result of several mergers and acquisitions.
Among the main actions, AGATHA was acquired in April **** by THOM (***) and by ALTESSE. [***]
These acquisitions and investments are proof that the ...
3.3 Structure of the jewelry market
The jewelry sector (***) saw a decline in its workforce between **** and ****, proof that the market was becoming more concentrated. Nevertheless, with strong market growth from **** onwards, the number of establishments in **** will return to ****-**** levels.
Number of companies operating under NAF code **.**Z France, ****-****, in number of units Source: ...
3.4 The rise of responsible jewelry
Interest in synthetic diamonds has only increased in recent years in response to the controversial production of diamonds in underdeveloped African countries under precarious and dangerous conditions. This interest is in line with the contemporary values of an increasingly responsible society[***].
The Courbet house, known for its emblematic presence on Place ...
4 Offer analysis
4.1 Typology of the jewelry offer in France
It's difficult to give an exhaustive presentation of jewelry, given 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 ; Other items.
Raw materials used:
Gold (***) ; Platinum ...
4.2 Trends in the prices of the main precious metals
Trend in the price of an ounce of gold France, ****-****, euros Source: ****
The price of an ounce of gold has not followed a linear trend over the past ten years. The first period of decline was from **** to ****, when the price of an ounce of gold fell from *,***.* euros to ...
4.3 The consumer price index
Consumer price index for jewelry and watches (***) France, ****-****, index base *** in **** Source: ****
The CPI is on the rise over the period observed, rising from an index of **.* in **** to ***.* in April ****.
4.4 Average jewelry prices by material
Average price of precious jewelry France, ****, euros Source: ****
The graph above shows the average price in different categories of so-called precious jewelry over the period January **** - December ****. While ***% gold is by far the most expensive jewelry category, with an average price of *** euros per piece that year, ***% gold jewelry is ...
4.5 The success of e-commerce
For several years now, online sales of jewelry have been growing in popularity. Jewelry e-commerce is mainly used by urban consumers from higher socio-professional categories. Most representative of this trend are women aged between ** and ** and men aged between ** and **. The choice of e-commerce is driven by:
attractive prices ; time efficiency; a ...
5 Regulations
5.1 The regulatory framework for jewelry in France
Declaration of existence
Before starting business, jewelry professionals whose activity involves the possession of gold, silver or platinum materials, whether shaped or not, must file a declaration of existence with their local guarantee office.The declaration must be accompanied by one of the following documents:- for craftsmen, a certificate of ...
6 Positioning the players
6.1 Player segmentation
- LVMH Groupe
- Chanel
- Cartier (Richemont groupe)
- Agatha
- Lou Yetu
- Defi International (Emma & Chloe)
- Hermès International
- Thom Group (Smizze, Marc Orian, Histoire d'or)
- Philippe Tournaire Joaillerie
- FG Manufacture (Dior)
- Messika
- Usi2M
- Orest Abysse Group (LVMH)
- Tiffany (LVMH)
- Gemafi Maty
- Courbet
- Dinh van
- Poiray
- Mauboussin
- Van Cleef & Arpels (Groupe Richemont)
- Mikimoto
- Gemmyo
- Pérouse Paris
- Oteline (Dior)
- FM industries Sycrilor
- Salmon Paris
- Valérie Danenberg Paris
- Chaumet (LVMH Groupe)
- Boucheron Kering Groupe)
- Chopard
- Piaget (Richemont Group)
- Burma
- Fred (LVMH)
- Pomelatto (Kering groupe)
- Repossi (LVMH groupe)
- Qeelin (Kering group)
- Martin du Daffoy
- Bäumer
- Compagnie des gemmes
- Celine (LVMH group)
- Graff Jewels
- Tasaki
- Anna Hu
- Harry Winston (Swatch Group)
- LVMH Montres et Joaillerie
- J Magazine
- Pedemonte (LVMH Groupe)
- MCGP Groupe
- Louis Laurent Joaillier
List of charts presented in this market study
- World jewelry market
- World's leading exporters of jewelry articles (UN Comtrade code: 7113)
- Sales structure of jewelry manufacturers
- Number of companies operating under NAF code 32.12Z
- Trends in the price of an ounce of gold
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Latest news
Chanel seeks new impetus with the departure of its artistic director - 06/06/2024
- - The Chanel group employs over 36,500 people worldwide.
- - Chanel sales 19.7 billion dollars in 2023
- - Chanel sales rose by +15.8%.
- - In the United States, Chanel sales rose by less than 3% to $3.9 billion.
- - In Asia, Chanel sales rose strongly by 17.7% to $8.4 billion.
- - Chanel's distribution network has doubled over the last five years.
Luxury: Chanel on the right track - 22/05/2024
- - Chanel 2023 annual sales: $19.7 billion (approx. €18.2 billion), an increase of 14.6%.
- - Workforce: 36,500 employees.
- - Number of Chanel boutiques worldwide: over 600.
- - Sales in Asia: $8.4 billion, up 17.7%.
- - Sales in Europe: $4.7 billion.
- - Sales in the United States: $3.9 billion, with growth of less than 3%.
- - Number of Chanel stores in mainland China: 18.
Louis Laurent: new factory in Seine-et-Marne - 08/05/2024
- - Opening of a new production plant scheduled for the first quarter of 2025 in Rebais, Seine-et-Marne.
- - Investment in the new plant: 25 million euros.
- - Sales in 2023: over 25 million euros.
- - The new plant will accommodate 200 employees
- - Sales target for 2030: 100 million euros.
Besançon jeweller Maty inaugurates 40th boutique in Blagnac - 03/05/2024
- Maty plans to open its 40th store in Blagnac, just outside Toulouse.
- This new outlet is the fifth to be opened under affiliation
- Maty's goal is to reach 70 to 80 stores by 2027, with parity between owned and affiliated stores.
- The Gemafi Group (Maty's parent company) employs 505 people.
- Gemafi's sales target for 2023 is just under 100 million euros.
- The business and 15 employees of the EBS jewelry after-sales service have been transferred to Besançon in 2023.
Alain Némarq, architect of Mauboussin's success - 16/04/2024
- - Alain Némarq has been at the helm of Mauboussin for 22 years.
- - International expansion of the brand, with stores opened in Japan, Singapore, Algeria, Morocco, Belgium, Italy, Spain, and recently in Aveiro, Portugal. The brand is also targeting China.
- - Prior to Némarq's arrival, Mauboussin achieved sales of 12 million euros, mainly from its single Place Vendôme store, targeting a male audience offering jewelry to "trophy women".
- - Under his leadership, the strategy was rethought to address women directly and increase the number of points of sale.
- - today, Mauboussin generates sales of 90 million euros.
- - The brand has 120 stores worldwide.
- - Mauboussin employs 350 people.
- - Mauboussin shareholders include Alain Némarq, the Mirabaud Asset Management fund, and Galeries Lafayette.
MCGP plans to create 350 jobs in a new factory at Le Creusot - 14/03/2024
- The MCGP jewelry group was created in 2004.
- - The group plans to set up its future factory in Le Creusot (Saône-et-Loire).
- - The company's workforce has grown from 250 to 650 between 2017 and 2024.
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