Chemical Industry Updates

  The luxury jewelry market has witnessed considerable traction over the recent years owing to increased spending on premium products among high-net-worth individuals. Luxury jewelry comprises jewelry made of precious metals and gemstones. They incorporate fine designs, exclusive craftsmanship and use of high-quality raw materials. Luxury jewelry plays an instrumental role in portraying status, power and taste. The need for luxury jewelry mostly arises from affluent customers seeking to make a style statement and project an aura of opulence. The global luxury jewelry market is estimated to be valued at US$ 60.11 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period of 2024 to 2031. Key Takeaways Key players operating in the luxury jewelry market are Gucciogucci S.P.A., Harry Winston, Inc., Societe Cartier, Tiffany & Co., Compagnie Financiere Richemont SA, Buccellati Holding Italia SpA, Graff Diamonds Corporation, Bulgari S.p.A, K. Mikimoto & Co., Ltd.,

Luxury jewelry is an investment that a person makes for a special occasion. Many consumers choose this type of jewelry as they don't want to compromise on the quality or style. Many consumers also prefer lighter-weight jewelry that doesn't feel bulky. Additionally, there is a large working women population which increases the appeal of luxury jewelry. There are a number of different designers that offer high-end luxury jewelry. Today, there are a variety of luxury jewelry brands with rich histories and elite clientele. However, not all brands are created equal. There are many acclaimed designers who have reinvented the art of jewelry-making and have created classic pieces that are still admired and sought after. Many designers also create modern and innovative pieces inspired by different cultures and traditions. Major players operating in the global luxury jewelry market include Pandora Jewelry, LLC., MIKIMOTO, Chopard International SA, Signet Jewelers Limited, Louis Vuitton