About Luxury Goods & Jewelry
Luxury Goods & Jewelry represent a world of exclusivity, craftsmanship, and artistry, transcending mere practicality to evoke emotions and desires. They are objects of beauty, status, and self-expression, often crafted with the finest materials and intricate techniques. Whereas Luxury Goods are referred as High-end, non-essential items characterized by superior quality, exquisite design, and premium branding and Jewelry Ornamental pieces worn on the body, crafted from precious metals, gemstones, and other materials. These items can be seen as symbols of wealth, status, and success, but they can also be cherished for their sentimental value, cultural significance, or artistic beauty. The Luxury Goods & Jewelry market is expected to continue its strong growth trajectory in the coming years, driven by a combination of favorable economic conditions, changing consumer preferences, and technological advancements.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The luxury goods market is a complex and competitive landscape with ongoing innovation and adaptation. Understanding the key players, strategies, trends, and challenges is crucial for brands to thrive in this dynamic environment. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Goods & Jewelry market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
LVMH Moët Hennessy Louis Vuitton (France), GUCCI Group (Italy), Tiffany & Co. (United States), Chow Tai Fook Jewlery Group Limited (China), Hermès International (France), Harry Winston Inc. (United States), Bulgari (Italy), Christian Dior Couture (France), Burberry Group plc (United Kingdom) and LVMH Moët Hennessy Louis Vuitton SE (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Kering (France), Prada Group (Italy), Ralph Lauren Corporation (United States), Richemont (Switzerland) and Aurate (United States).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Goods & Jewelry market by Type (Watches, Jewelry, Perfume, Cosmetics, Bags/Purses, Clothing and Others) and Region.
On the basis of geography, the market of Luxury Goods & Jewelry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct Sale will boost the Luxury Goods & Jewelry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Gender, the sub-segment i.e. Male will boost the Luxury Goods & Jewelry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Utilization of Lab-grown diamonds and recycled materials
Market Growth Drivers:
Increased purchasing power fuels demand for high-end products and Increase awareness towards sustainable products.
Challenges:
Fluctuations in precious metal and gemstone prices
Restraints:
Growing use of Second hand and Counterfeit Brands products.
Opportunities:
The rise of online marketplaces and brand websites and Increased demand for Customization and Uniqueness
Market Leaders and their expansionary development strategies
In January 2023, LVMH Moët Hennessy Louis Vuitton SE, the world’s leading luxury products group, announced today that it has completed the acquisition of Tiffany & Co., the global luxury jeweler. The acquisition of this iconic US jeweler will deeply transform LVMH’s Watches & Jewelry division and complement LVMH’s 75 distinguished Maison's.
In August 2023, Aurate announced the launch of its new collection, Laure by Aurate introduces the brand's first time using a sister brand business model, created by Aurate specifically for Helzberg Diamonds' audience and consumers.
Key Target Audience
Jewelry Manufacturers, Raw Material Suppliers, Government & Regulatory Bodies, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.