future of jewellery
36
A multifaceted future:
The jewelry industry in 2020
The trends that have unfolded in the apparel sector over the last three decades appear to be playing out in the jewelry sector, but at a much faster pace.
Linda Dauriz,
Nathalie Remy, and
Thomas Tochtermann
The jewelry industry seems poised for a glittering
To chart the most likely course of the jewelry
future. Annual global sales of €148 billion are
sector, we analyzed publicly available data,
expected to grow at a healthy clip of 5 to 6 percent
studied companies’ annual reports, and
each year, totaling €250 billion by 2020. Consumer interviewed 20 executives at global fine-jewelry appetite for jewelry, which was dampened by the
and fashion-jewelry companies and industry
global recession, now appears more voracious
associations. Our research indicates that five
than ever.
trends that shaped an adjacent industry— apparel—over the past 30 years are becoming
But the industry is as dynamic as it is fast growing.
evident in the jewelry industry as well, and at a
Consequential changes are under way, both in
much faster pace: internationalization and
consumer behavior as well as in the industry itself.
consolidation, the growth of branded products, a
Jewelry players can’t simply do business as usual
reconfigured channel landscape, “hybrid” con-
and expect to thrive; they must be alert and
sumption, and fast fashion. In this article, we
responsive to important trends and develop-
discuss how these trends could affect the future
ments or else risk being left behind by more
of jewelry and what jewelry companies should do
agile competitors.
to prepare.
37
Internationalization of brands and
The apparel industry is about ten times the size
Toko Ohmori
industry consolidation
of the jewelry industry as measured in annual
In the 1980s, national apparel brands were the
sales, but the average M&A deal
A multifaceted future:
The jewelry industry in 2020
The trends that have unfolded in the apparel sector over the last three decades appear to be playing out in the jewelry sector, but at a much faster pace.
Linda Dauriz,
Nathalie Remy, and
Thomas Tochtermann
The jewelry industry seems poised for a glittering
To chart the most likely course of the jewelry
future. Annual global sales of €148 billion are
sector, we analyzed publicly available data,
expected to grow at a healthy clip of 5 to 6 percent
studied companies’ annual reports, and
each year, totaling €250 billion by 2020. Consumer interviewed 20 executives at global fine-jewelry appetite for jewelry, which was dampened by the
and fashion-jewelry companies and industry
global recession, now appears more voracious
associations. Our research indicates that five
than ever.
trends that shaped an adjacent industry— apparel—over the past 30 years are becoming
But the industry is as dynamic as it is fast growing.
evident in the jewelry industry as well, and at a
Consequential changes are under way, both in
much faster pace: internationalization and
consumer behavior as well as in the industry itself.
consolidation, the growth of branded products, a
Jewelry players can’t simply do business as usual
reconfigured channel landscape, “hybrid” con-
and expect to thrive; they must be alert and
sumption, and fast fashion. In this article, we
responsive to important trends and develop-
discuss how these trends could affect the future
ments or else risk being left behind by more
of jewelry and what jewelry companies should do
agile competitors.
to prepare.
37
Internationalization of brands and
The apparel industry is about ten times the size
Toko Ohmori
industry consolidation
of the jewelry industry as measured in annual
In the 1980s, national apparel brands were the
sales, but the average M&A deal