“Branded jewelry” – jewelry with a stylistic signature and brand name attached to it – is currently estimated to represent only 19 percent of the global fine jewelry market. By contrast, branded leather goods represent 50 percent of that market, and branded eyewear 38 percent.
On this basis, Thomas Tochtermann, a director at McKinsey, believes branded fine jewelry’s share of the market could double in size by 2020.
Caroline Reyl, manager of the Premium Brands fund at Pictet, said China, where the luxury market overall is expected to increase 10 percent in 2012, would be a significant source of growth for branded fine jewelry. China recently overtook the United States as the country with the highest demand for branded luxury watches, according to the 2012 Worldwatch Report. That trend is expected to be matched by branded fine jewelry.
Mr Ferraris said China was Versace’s fastest-growing fine jewelry market. The Asia-Pacific region also represents 42 percent of sales at Richemont – the owner of such brands at Cartier, Piaget and Van Cleef & Arpels – which is planning to increase its retail presence in China from 160 to 250 stores.Page 2 of 3 | Prev Page | Next Page