Summary

Since 2020, the global jewelry market has shown robust growth, with a market value of $330 billion by 2022 and an anticipated annual growth rate (CAGR) of 8%. Digitization is an important driver of this expansion, bolstering global online sales and branded jewelry, which is expected to claim 25-30% of market share by 2025. In Italy, the jewelry sector is an integral part of the economy. The country remains a major exporter, with exports in 2022 up 43% on 2020. The jewelry trade is thriving despite the challenges posed by the Russian-Ukrainian conflict, which has affected supplies, and sanctions on luxury goods, including those involving Russian diamonds and gold. Rising energy costs and raw material prices, particularly for gold, have resulted in higher prices, but consumer interest remains strong.

Market trends in the Italian jewelry landscape

In Italy, jewelry is not only a sign of luxury, it's also a booming sector, with a stable economy and growth potential. The Italian jewelry market, whose operational core is in the north-west of the country, is beginning to recover its traditional role as a symbolic gift to celebrate special moments. Current trends show that consumers are once again turning to luxury jewelry, including necklaces, earrings, rings, bracelets and other ornamental pieces. This trend is fuelled by the vitality of luxury products and by an affluent, lifestyle-conscious consumer base. The Italian jewelry market, with current sales of just under 5 billion euros, is following a slightly upward trajectory. This trend is reinforced by the growing revenues of those who know how to take advantage of digital innovations, in particular e-commerce, and social media communication. As Italy rides the wave of post-Covid-19 optimism, the amplified purchasing power of younger generations suggests a solid future for the jewelry sector. Interestingly, domestic demand for gold and silver jewelry remains high, at around 30% and 20% respectively, with men aged 45-54, mainly in metropolitan areas, most likely to make such luxury purchases. While consumers favor these precious metals for their inherent luxury and investment potential, the environmental and ethical concerns associated with mining are prompting the more socially and environmentally sensitive buyers to adopt a cautious approach. Moreover, with gold prices soaring, price-sensitive consumers have turned to more cost-effective non-precious jewelry. However, precious metals continue to be regarded as sound investments, and speculation points to a resurgence of gold in the years ahead, particularly in the context of global inflationary pressures.

Craft meets innovation: the key players shaping the global jewelry market

When we look at the jewelry market, a network of distinguished companies emerges, each contributing to the tapestry of this dazzling industry with its unique blend of heritage, craftsmanship and innovative spirit. Below, we explore a selection of these eminent forces who are not only guardians of tradition, but also heralds of contemporary trends in the world of finery :

  • Luxury brand innovators: We often see luxury brands pushing boundaries, introducing avant-garde designs while reviving their history to appeal to the modern consumer. These companies have successfully fused their rich heritage with today's taste, reviving iconic logos and anchoring their products in a heritage that speaks of quality and tradition - a move that has fortified their position in an ever-changing market.
  • Digital trendsetters: The rise of e-commerce has opened up a new era for jewelry houses that know how to navigate the digital landscape. The importance of virtual storefronts has enabled these savvy players to extend their reach beyond traditional brick-and-mortar establishments. By harnessing the power of online marketing, social media engagement and cutting-edge digital tools, these businesses have secured superior revenue streams and expanded their global footprint.
  • The rtisans of Vicenza and Arezzo: Nestled in the rich Italian landscape, these regional meccas have gained international renown for their exquisite jewelry craftsmanship. Their production facilities and family-run workshops are not just workshops, but repositories of intergenerational know-how and passion. Their remarkable rebound and export growth are a testament to the resilience and adaptability of these provincial artisans.
  • Sustainability pioneers: At a time when ethical sourcing and environmental awareness are playing an increasingly important role, a wave of sustainability-focused brands has emerged. These pioneers are setting new industry standards by adopting practices that promote the responsible sourcing of precious metals and gemstones, aligning themselves with the eco-conscious values of contemporary consumers.
  • Experts in Indian craftsmanship: Thanks to its renowned prowess in diamond processing, India has become an indispensable hub in the global jewelry ecosystem. Indian companies play an essential role in transforming rough and uncut diamonds into masterfully crafted gemstones, ready to be incorporated into breathtaking pieces of jewelry.
Get all the information you need
to understand this market

Detailed content

Inforamtion

  • Number of pages : 30 pages
  • Format : Digital and PDF versions
  • Last update : 09/10/2023
Update Details

Summary and extracts

1 Market Summary

1.1 Definition and presentation

A piece of jewelry is an ornament made of precious metal, worked and embellished with gems, pearls or other types of precious stones.

The jewelry market is segmented according to the type of gemstone used or according to the type of product considered:

  • Necklaces;
  • Earrings;
  • Rings;
  • Bracelets;
  • Other.

Globally, the jewelry market is estimated to be worth $330 billion in 2022 and is expected to grow, with an annual rate (CAGR) OF 8%.

This growing trend is dictated by the continued interest shown by consumers in luxury products and their propensity to purchase these particular products as a symbol of a wealthy and luxurious lifestyle.

In Italy, the jewelry market remains one of the most dominant sectors of the national economy.While jewelry had lost its role as a symbolic gift to celebrate moments or events a few years ago, it is now coming back into vogue, and this is also evidenced by the over-performance of many jewelry brands as of 2019.

The jewelry sector in Italy is basically stable, we can see a slight growth in the total number of jewelry stores on Italian soil and a decline in the number of people employed in the sector due to the automation of work. Most jewelry stores are rooted in northern Italy, and those considered most solid are definitely those that have focused most oninnovation through digital tools such as e-commerce, social communication, etc.

it has been proven that those operating on the web generally have higher revenues.

According to the most recent trends, the jewelry market has all the good prerequisites to drag the luxury market into the near future, both by taking advantage of the returned post-Covid-19 optimism and the increase in purchasing power among the younger generations.

it is very important for those who want to enter this market to stay abreast of the latest digital trends and constantly look for innovative digital solutions.

1.2 The growing world market

The jewelry market is growing strongly, thanks to strategic incentives put in place by major players in the industry. Earrings, pendants, brooches, bracelets, small decorative items and cufflinks are increasingly in demand by global consumers; with combined annual sales of $*** billion, the jewelry market is estimated to grow at an annual ...

1.3 Domestic production

Turnover

The total turnover of jewelry stores in Italy is estimated at just under * billion euros. More than ** percent of total turnover is produced by operators in the Northwest regions. The number of people employed by jewelry stores in Italy is **,***. Large enterprises account for *.* percent of Italian jewelry stores and ...

1.4 Jewelry trade exchanges

The following data report values belonging to the UNComtrade term "articles belonging to the jewelry sector and their parts"; for this reason, the import and export values turn out to be radically higher than the value of domestic production of articles belonging to the jewelry sector, constructed on the basis of ...

1.5 The Russian-Ukrainian conflict and the impact on the market

International sanctions imposed on Russia have had a significant impact on the jewelry industry. As part of the measures taken by the European Union, a ban on exports to Moscow of luxury goods worth more than *** euros was established, and on March **, the U.S. government-one of the largest consumers of ...

2 Demand analysis

2.1 Customer Demand and Characteristics

The jewelry market has always been an area of great fascination and interest, both for beauty and luxury enthusiasts and for investors looking for profit opportunities. Demand for products in this market reflect a wide range of aspects, including consumer tastes and trends, material quality, sustainability, design innovation and more.

According ...

2.2 Favorite types of jewelry

Italian consumers prefer to purchase gold (***) jewelry. Today, the consumption of gold and silver jewelry continues to be a crucial part of the fashion and accessory industry. People buy jewelry composed of these metals for a variety of reasons, including self-expression, celebration of special moments such as weddings and anniversaries. Gold, ...

2.3 Demand trend: the gold market

One of the factors that most influences the operation and demand ofjewelry stores is the trend in the price of gold. Indeed, the rise in the price of the material in recent times has led to a change in consumption, with a shift toward non-precious jewelry for price-conscious consumers. Despite this, ...

3 Market structure

3.1 The structure of companies active in jewelry production

There are about ***,*** active retail enterprises in Italy in ****. Of these, **,*** are enterprises in the retail trade of watches, jewelry and silverware (***).[***]

Trend of jewelry stores in time series Italy, ****-**** Federpreziosi

Distribution of businesses by macro area

Geographically, the approximately **,*** watch, jewelry and silverware retail businesses are mainly located in ...

3.2 The fabric of jewelry stores

In the Italian economic context, the presence of micro and small enterprises dominates, and this is also attested in the jewelry sector. Italy, unlike other countries, is composed of **.*% of this type of enterprises, therefore, according to Istat, only *.*% of the total enterprises in the territory are large (***) than the European ...

3.3 The various types of jewelry stores and the growing importance of e-commerce

The main distribution channels active in the jewelry and costume jewelry market in Italy are:

Traditional jewelry stores: Traditional jewelry stores are identified with the figure of the jeweler and remain one of the most popular places to buy jewelry, watches and silverware. Within a jewelry store you can choose from ...

3.4 The rise of responsible jewelry

Interest in synthetic diamonds has increased in recent years in response to the controversial production of diamonds in the underdeveloped countries of Africa under precarious and dangerous conditions. This interest is in line with contemporary values of an increasingly responsible society.[***]

There is a developing trend toward the purchase of what ...

3.5 Traffic Analysis of major jewelry brands in Italy

Focusing on online activity, there is a decrease in web traffic*, reflecting a slight decline in online demand for jewelry. This trend is repeated when distinguishing between Italian and international brands. At the same time, we see a growth in paid traffic, bucking the negative trend in the market.

Analyzing in ...

4 Supply analysis

4.1 Precious metal prices

Jewelry is made from precious metals. The metals mainly used for jewelry production are:

Gold Silver Platinum Palladium

Average price for each metal:

Source: ****

4.2 Prices

The Harmonized Index of Consumer Prices category "Jewelry and HORogerie" (***) includes precious stones and metals and jewelry made from such stones and metals; the Harmonized Index of Consumer Prices is analyzed below and is updated periodically to reflect changes in consumption patterns. Changes in the HICP can be used to assess ...

4.3 New supply trends

During Milan Fashion Week, one of the most acclaimed moments in the fashion world, new proposals for the Fall-Winter ****-**** Collections were presented.

From Feb. ** to **, renowned fashion houses, including Diesel, Emporio Armani, Philipp Plein and many others, took to the runways to present new trendy looks that require the perfect ...

5 Rules and regulations

5.1 Regulation

Several laws apply to jewelry articles. The most important decrees are :

LEGISLATIVE DECREE **.*.****, No . *** and the Regulation of Law No. *** regulating the production and marketing in Italy of titles and identification marks of precious metals, indicating what precious metals are, the identification mark, responsibility, certification systems, supervision and sanctions. lAW **.*.****, No. ...

All our studies are available online in PDF format

Take a look at an example of our research on another market!

Do you have a question about this study?   +44 238 097 0676

Latest news

Lvmh: Belloni steps down as general manager and will be president of Lvmh Italy - 22/03/2024
  • **Toni Belloni**
    • - Period in LVMH: more than 23 years
    • - Roles: General manager and chairman of the executive committee of LVMH
    • - Next role: In charge of some strategic missions and president of LVMH Italy
  • **Stéphane Bianchi**
    • - Date of hire at LVMH: 2018
    • - New roles: He will chair the executive committee and lead the group's geographic divisions and digital and data transformation, working in close collaboration with Bernard Arnault. 3.
  • **Wei Sun Christianson**
    • - Proposed Position: Administrator on the board of directors
    • - Skills: Financial literacy, knowledge of the luxury market and China
    • - Proposed co-option date: April 18 board of directors meeting
  • **Bernard Arnault**
    • - Roles: chairman and chief executive officer of the LVMH Group
    • - Comment on Belloni: Describes him as critical to LVMH's success, citing his vision, loyalty, and participation in the group's acquisitions.
Chanel prepared for market changes - 24/05/2022
  • The group offers collections for men and women
  • Sales of 14.6 billion euros in 2021
  • The group owns networks of Chanel stores, boutiques and distributors
  • Chanel's strategy is to harmonize prices and reaffirm that it will not sell its fashion and watch and jewelry creations online
  • The group has invested $758 million in transforming its distribution network
  • According to analysts, the label created by Coco Chanel is the only one in the sector to rival the power of LVMH Louis Vuitton and its revenues of some 17 billion euros
Chanel creates "La Parcelle", a new green and artistic space - 14/09/2023
  • Le 19M, the space dedicated to Chanel's métiers d'arts, was inaugurated in 2021.
  • Le 19M brings together 600 craftsmen and experts in eleven Maisons d'arts.

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. :

LVMH ITALIA S.P.A.
Chanel
Cartier (Richemont groupe)
Hermès International
Swarovski Group
Angela Caputi Giuggiù
CA&LOU
Bulgari
Buccellati (Richemont Group)
Damiani
Pedemonte (LVMH Groupe)

Choosing this study means :

Access to more than 35 hours of work

Our studies are the result of over 35 hours of research and analysis. Using our studies allows you to devote more time and added value to your projects.

Benefit from 6 years' experience and over 1,500 industry reports already produced

Our expertise enables us to produce comprehensive studies in all sectors, including niche and emerging markets.

Our know-how and methodology enable us to produce reports that offer unique value for money.

Access to several thousand articles and paid-for data

Businesscoot has access to all the paid economic press as well as exclusive databases to carry out its market research (over 30,000 articles and private sources).

To enhance our research, our analysts also use web indicators (semrush, trends, etc.) to identify market trends and company strategies. (Consult our paying sources)

Guaranteed support after your purchase

A team dedicated to after-sales service, to guarantee you a high level of satisfaction. +44 238 097 0676

A digital format designed for our users

Not only do you have access to a PDF, but also to a digital version designed for our customers. This version gives you access to sources, data in Excel format and graphics. The content of the study can therefore be easily retrieved and adapted for your specific needs.

Our offers :

the jewelry market | Italy

89 €
  • What are the figures on the size and growth of the market?
  • What is driving the growth of the market and its evolution?
  • What is the positioning of companies in the value chain?
  • Data from several dozen databases

5 reports pack (-15%) IT Italy

75.6 € / study
378 € instead of 445 € -15%
  • 5 reports at €75.6 excluding VAT per study to choose from our Italian catalogue for 12 months
  • Save 15% on additional studies purchased
  • Choose to be refunded any unused credit at the end of the 12-month period (duration of the pack)

See the terms and conditions of the pack and the refund of unused credit.

Updates

Our customer references

They have consulted our studies Discover the opinions (+500)

Malcolm Vincent
Linkedin logo

Malcolm Vincent

Astoria Finance

Gregoire de Castelnau
Linkedin logo

Gregoire de Castelnau

Stags Participations

Timothé Huignard
Linkedin logo

Timothé Huignard

PWC

Paul-Alexis Kebabtchieff
Linkedin logo

Paul-Alexis Kebabtchieff

BCG

Aymeric Granet
Linkedin logo

Aymeric Granet

Publicis Consultant

interviews & case studies All interviews and case studies (45)

La pépite Interview

BFM Business

Paul-Alexis Kebabtchieff

Boston Consulting Group

Marie Guibart

Kea Partners

Elaine, Durand

Crédit Agricole, Information & Veille

Philippe Dilasser

Initiative & Finance

Anne Baudry

Metro

Amaury Wernert

Kroll (Duff & Phelps)

Smart Leaders Interview

B-Smart

Do you have a question ?
Our team is at your disposal at   +44 238 097 0676