The rest of the market consists of strong national retail brands, such as Christ in Germany or Chow Tai Fook in China, and small or midsize enterprises that operate single-branch stores. The ten biggest jewelry groups capture a mere 12 percent of the worldwide market, and only two-Cartier and Tiffany & Co.-are in Interbrand’s ranking of the top 100 global brands. Today, the jewelry industry is still primarily local. We expect jewelry to follow a similar path. Apparel has become a truly global business. Hugo Boss’s sales outside Germany, for example, grew from 50 percent of its total sales in 1990 to more than 80 percent today. Others have built or expanded their international presence. Today, many national brands have been outpaced by international brands such as Zara and H&M. In the 1980s, national apparel brands were the clear leaders in their respective markets: C&A in Germany, for example, and Marks & Spencer in the United Kingdom. Internationalization of brands and industry consolidation In this article, we discuss how these trends could affect the future of jewelry and what jewelry companies should do to prepare. Our research indicates that five trends that shaped an adjacent industry-apparel-over the past 30 years are becoming evident in the jewelry industry as well, and at a much faster pace: internationalization and consolidation, the growth of branded products, a reconfigured channel landscape, “hybrid” consumption, and fast fashion. To chart the most likely course of the jewelry sector, we analyzed publicly available data, studied companies’ annual reports, and interviewed 20 executives at global fine-jewelry and fashion-jewelry companies and industry associations. Jewelry players can’t simply do business as usual and expect to thrive they must be alert and responsive to important trends and developments or else risk being left behind by more agile competitors. Consequential changes are under way, both in consumer behavior as well as in the industry itself. Consumer appetite for jewelry, which was dampened by the global recession, now appears more voracious than ever.īut the industry is as dynamic as it is fast growing. Annual global sales of €148 billion are expected to grow at a healthy clip of 5 to 6 percent each year, totaling €250 billion by 2020. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.The jewelry industry seems poised for a glittering future. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |