Positive Outlook for Global Luxury Jewellery Industry -Ken Research

Women constitute half the world’s population, the demand for jewellery is always there in any geography or culture. And, going by the demand for luxury goods, the jewellery and watches industry comes next to the apparel industry.

Report titled “Global Luxury Jewelry Industry Situation and Prospects Research report 2017”forecasts good growth for the luxury jewellery industry thanks to rising exports of jewellery from India and China. In the economic growth of the developing countries including India,the jewellery industry plays a vital role. It generates a lot of work for the people who are associated with it apart from contributing substantially to the country’s GDP.

Government policies have a major effect on the luxury jewellery industry. Following the establishment of the World Trade Organisation, the policies of governmentsthe world over have become less restrictive. In fact, the countries, located in the same geographical region, are creating free trade zones. Analysts at Ken Research believe that this could further brighten the growth prospects of the luxury jewellery industry.

According to Ken Research, there is a rapid change in the industry’s dynamics, whether brought about by government policies or diversification of products to attract the costumer. In this scenario, identification of suitable global markets to offer their products will become important for the companies in the luxury jewellery industry, says analysts at Ken Research.

Luxury jewellery is known for its profound designs and use of the finest and expensive raw materials. What has added to the lure of luxury jewellery is the support it has received from fashion business. Today luxury jewellery is marketed by top models of the fashion industry. The integration of the luxury industry with the fashion and glamour industry has helped create new market avenues for it.

The growth of any luxury product depends pretty much on the economic condition of people and the countries they live in. Thanks to the good economic progress recorded by the developing countries in recent years, demand for luxury goods including jewellery has been rising steadily, and it augurs well for the future growth of the luxury jewellery industry.

The luxury jewellery industry’s growth avenues have been broadened with the increasing use of jewels in other luxury products such as watches, bags and apparels. Thus, the rising indirect market for luxury jewellery is expected to give further boost to the luxury jewellery industry.

The luxury jewellery industry has a competitive landscape where some of the major players are: Bulgari, DAMIANI, De Beers Diamond Jewellers, FJD, FOLLI FOLLIE JAPAN LTD, Georg Jensen, GUCCI Group, Harry Winston, JOAQUIN BERAO JAPAN, MUSEO, Richemont, San Freres S A, Tiffany & Co, UNO A ERRE JAPAN, URAI

Topics Covered in The Report