Market Overview
Luxury jewelry is a style statement among the consumers, which leads to increasing demand for different styles and designs in the luxury jewelry market. Implementation of new technologies such as Computer Aided System (CAD) in the jewelry creation is expected to boost the growth of the luxury jewelry market. CAD technology helps manufacturers to create new and unique jewelry designs, which in comparison to manual designs is challenging. Hence, shifting trend of consumers towards new and fusion designs is expected to boost the luxury jewelry market.
Based on type, the global luxury jewelry market has been segmented into necklace, ring, bracelet, earrings and others. The earring segment accounted for the maximum market share in 2017 and is expected to grow at a high rate during the forecast period as there is an increasing fashion trend where women prefer earring as the statement jewelry with their outfit, owing to the factor that earrings are easier to carry and match to the outfit. Ring segment also held a substantial share as these, products are mostly preferred by consumers as an investment and also as gift product.
Competitive Landscape
Some of the key players in the global luxury jewelry market are Guccio Gucci S.p.A. (Italy), Harry Winston, Inc. (US), Société Cartier (France), Tiffany & Co. (US), Compagnie Financière Richemont SA (Switzerland), Buccellati Holding Italia SpA (Italy), Graff Diamonds Corporation (UK), Bulgari S.p.A.(Italy), K. Mikimoto & Co., Ltd. (Japan), Chopard International SA (Switzerland)
Market Segmentation
The global luxury jewelry market has been segmented based on type, material, end-user, distribution channel and region.
By type, the global market has been classified as necklace, ring, bracelet, earrings and others.
The global luxury jewelry industry has also been segregated, on the basis of material, into gold, silver, platinum and others.
Based on end-user market is further segmented into men & women.
On the basis of distribution channel, the global market has been divided into store-based and non-store-based. Store-based is further divided into multi-brand store, specialty store and others. Non-store-based is also further segmented into e-commerce.
The global luxury jewelry industry has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
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Regional Analysis
On the basis of region, the global luxury jewelry market has been segmented by North America, Europe, Asia-Pacific, and RoW. Asia Pacific is expected to dominate the global luxury jewelry market owing to increasing awareness about branded jewelry. Additionally, increasing influence of promotional campaigns through social media has led to high adoption of modern fashion trends in consumers.
The luxury jewelry market in Europe is expected to grow rapidly due to factors such as growing popularity of customized jewelry according to consumer requirement and increasing demand for fusion of traditional jewelry with trending fashion is expected to boost the luxury jewelry market during the forecast period.
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