The costume jewelry market - France (2024)

1.2 The booming global jewelry market

The jewelry market is doing well, and is estimated to be worth e*** billion in ****. According to specialists, the compound annual growth rate should be *.*% over the period ****-****, reaching ***.* billion in ****. The market remains highly dynamic, despite the pandemic and the crisis in Ukraine.

Global jewelry market size World, ****-****, in billions of dollars Source: ****

The global costume jewelry market is also experiencing strong growth, which is set to continue at a sustained pace in the years ahead(***). The following graph shows forecasts for the value of the global costume jewelry market. The forecasts are very optimistic, and the market is expected to reach **.* billion euros in ****.

Forecast value of the costume jewelry market World, ****-****, in billions of dollars Source: ****

1.3 A growing French market for costume jewelry

The value of jewelry production in France has been on an upward trend since ****, with a slight slowdown in growth in ****, due to the pandemic, but an unprecedented recovery in ****. In * years, the sales index for jewelry manufacturers has risen from ***.* to ***.*, representing average annual growth of **.*% since ****. Sales index for jewelry manufacturers (***) France, ****-****, sales index base *** in **** Source : Insee This upward trend can be seen in the graph below, showing the evolution of jewelry production in value terms. While for many years this production amounted to around * billion euros, it has more than doubled to reach *.* billion euros in ****. This positive dynamic is fuelled both by the French market, with sales growth of **% in **** compared to ****; but also by the traction of certain global markets, such as China. in ****, France accounted for */* of Chinese imports of precious jewelry. Trends in French jewelry production France, **** - **** by jewelry category, millions of euros Source: Franceéclat Observatory In ****, precious jewelry represented a total of **** million euros, while costume jewelry production was worth *** million euros. Each year, costume jewelry accounts for around **% of the market. Francéclat even points out that this is the only jewelry segment in France that has shown ...

1.4 A highly favorable French trade balance

The UN Comtrade database provides access to export and import figures for all categories of manufactured products and raw materials. For the chart below, the selected category is "Articles of jewelry and parts thereof, of precious metal or of metal clad with precious metal"code ****. France's trade balance in the jewelry market developed very favorably between **** and ****, and has fallen slightly since. Although exports still far outstrip imports, this decline is due to an increase in the number of jewelry exports, driven mainly by the precious gold and silver jewelry and costume jewelry segments.

Trend in France's trade balance in the jewelry market World, ****-****, in billions of dollars Source: ****

The "costume jewelry"code **** on UN Comtrade was selected to obtain the following graph. Even more spectacularly than for the jewelry market, the trade balance for costume jewelry has evolved extremely favorably for France. From -*** million dollars in **** to +*** million dollars in ****, a gain of *** million dollars in seven years.

Trend in France's trade balance in the costume jewelry market World, ****-****, in millions of dollars Source: ****

Predictably, China is France's leading supplier of costume jewelry (***), as this type of jewelry can be likened to manufactured goods, a market in ...

2.1 French consumption of jewelry items

The graph below shows the jewelry budget. In **% of cases, the jewel purchased costs less than €***. This is reflected in the average sales price of €***. However, there are significant disparities according to buyer gender. While women spend an average of €*** on jewelry, men spend €***. Nevertheless, according to L'officiel Horlogerie Bijouterie, the frequency of jewelry purchases by men is much lower than that of women, which may explain men's tendency to buy more expensive jewelry when they make a purchase.

Jewelry budget in France France, ****, in Source: ****

Consumers' tendency to buy jewelry for less than *** euros provides a favorable context for the costume jewelry market, as costume jewellery has the characteristic of being less expensive than "classic" jewelry. According to Statista, in ****, ** million items of jewelry were sold in France, at an average price of ** euros. While for special occasions such as engagement rings, consumers tend to prefer luxury jewelry, for jewelry without special occasions, mid-range brands are more popular.

Number of women using jewelry in France France, ****-****, in millions of people Source: ****

The chart below shows the jewelry categories most worn by the French. The ring occupies first place (***). This can be explained in particular by the fact that the ...

2.2 Demand for costume jewelry

The graph below shows the evolution of the index of actual final household consumption of costume jewelry. We can see that this index has been rising since ****, reflecting the increasing consumption of costume jewelry by the French.

Trend in the price index for actual household consumption of costume jewelry, based on **** France, ****-****, consumer price index Source: ****

Average basket size for women's fashion jewelry France, ****, in millions of individuals Source: ****

2.3 Seasonal demand and the growth of e-commerce

Evolution of interest in searching for "jewelry" on Google France, **** - ****, in indexes Source: Google Trends The graph above represents the interest in searching for a term on Google (***), over a given period. The index of *** corresponds to the maximum number of searches, while * means insufficient data. Interest in jewelry purchases is highly seasonal, peaking at the end-of-year holiday season.

Other events also motivate jewelry purchases, such as birthdays and Valentine's Day. The latter represents an ideal occasion, and many women would like to receive a piece of jewelry for the occasion.

Gifts women would prefer to receive for Valentine's Day France, ****, % of total Source: ****

Among the men surveyed by YouGov, **% intend to give flowers, **% jewelry and **% perfume.

Online shopping Online platforms such as Histoire d'Or and Pandora enjoy strong popularity in France, where they account for over **% of jewelry sales. This proportion, though modest compared with **% for clothing sales or **% for books and video games, plays a significant role in the jewelry sector. It is expected that this market share will continue to grow in the years to come.

development of online jewelry sales France, ****-****, in% Source: ****

3.1 Costume jewelry value chain

Below is a simplified value chain for the costume jewelry sector:

Jewelry creation / design: this stage generally takes place in France, in the brand's offices. A wide variety of players are involved in this stage: fashion houses, jewelry designers, craftsmen... Jewelry manufacturing / assembly : the designs created and imagined in the previous stage are then sent to the factories where the jewelry is produced. These factories are often located abroad (***) for the larger players. conversely, independent costume jewelry designers, like artisans, produce their jewellery in workshops in France. Distribution: Once the jewels have been produced, they are sold through a variety of distribution channels:

downtown jewelry stores and jewelry chains (***) shopping mall jewelry stores shopping malls ready-to-wear stores (***) direct online sales (***)

French company Thom Europe (***).

3.2 French costume jewelry production

Costume jewelry production is classified under NAF code **.**Z "Manufacture of costume jewelry and similar articles".

Both the number of companies involved in costume jewelry production and the total number of employees in this sector are showing slight but steady growth. Between **** and ****, the number of companies producing costume jewellery rose by almost **%.

Growth in the number of costume jewelry production companies France, ****-****, in number of companies Source: ****

At the same time, between **** and ****, the total workforce employed in costume jewelry production increased by **%.

Change in total workforce employed in costume jewelry production France, ****-****, in number of individuals Source: ****

These numbers can be explained by the multiplication of small-scale jewelry workshops (***).

The most dynamic regions in terms of costume jewelry creation are Île-de-France, Nouvelle Aquitaine, Paca and Auvergne Rhône-Alpes.

Source: ****

3.3 Contrasting trends in distribution channels

There are many different distribution channels for costume jewelry, with mixed results in recent years:

Inner-city jewelers, the "historic" channel for jewelry, continue to experience a decline in sales that began several years ago. Their poor results follow the negative trend of all inner-city retailers, who are experiencing a decline in footfall due in particular to parking difficulties and increased competition from shopping malls and e-commerce (***). Jewelry stores located in shopping centers and supermarkets are less affected by these negative effects. Online sales are the fastest-growing channel.

Between **** and ****, the breakdown of the value of jewelry sales in general has changed relatively little. However, we can note that online sales are increasing slightly, rising from *% in **** to *% in **** as a share of sales value. Conversely, jewelry stores with sales in excess of €***,***, i.e. the major jewelry chains, are in decline: their share of jewelry sales value has fallen from **% in **** to ****. This drop in **** can, in part, be explained by the closure of department stores during the confinements due to the health crisis.

Breakdown of sales value by distribution channel France, ****-****, in Source: ****

Between **** and ****, only sales of jewelry in supermarkets declined. Non-specialized trade suffered more than specialized trade, ...

4.1 A wide range of products

It is difficult to give an exhaustive presentation of costume jewelry due to the diversity of products on offer.

We can, however, segment the products according to the classic categories used to segment a classic jewelry offering:

Jewelry type:

Earrings ; Rings, bracelets ; Charms ; Necklaces ; Pendants ; Piercings ; Brooches ; Others.

Consumer gender:

Male ; Female ; Mixed Mixed; Child.

Raw materials used :

Fabric ; Plastic ; Mother-of-pearl ; Wood Wood ; Feather ; Metal ; Mineral resources (***) ; Other animal or vegetable materials (***).

4.2 Characteristics of costume jewelry prices

Costume jewelry prices have two main characteristics, especially when compared to classic jewelry:

Lower price levels than more classic jewelry

In ****, costume jewelry will account for around **% of the jewelry market by value. This is due to very low prices compared to classic, precious and fine jewelry. In ****, the average price of costume jewelry was around €**.

Average jewelry price France, ****, in euros Source: ****

An extremely varied offer

The costume jewelry category, as used in this study, covers a very wide variety of products, both in terms of :

Manufacturing processes (***). Materials (***). The sophistication of the creations.

As a result, products are extremely varied, and cover a very wide price range.

In view of the diversity of ranges and the depth of references on the market, we propose a mapping of the main brands in the sector, based on two axes:

The first axis segments market players by price level (***); A second axis separates brands specialized in the creation of costume jewelry from integrated brands, which offer other types of jewelry or even accessories and ready-to-wear.

Mapping of fashion jewelry brands :

There is a noticeable absence of specialized costume jewelry brands positioned in the low-end segment. Most companies targeting the low-end market choose ...

4.3 The arrival of luxury brands on the costume jewelry market

In recent years, luxury brands have been taking an interest in the fashion jewelry market, offering a range of this type of jewelry.

An emblematic example of this trend is the range of costume jewelry sold by Dior. Far more expensive than lesser-known brand equivalents, this jewelry enables Dior to generate substantial profits, since margins are higher than for fine jewelry (***).

As the table below shows, Cluse, a watch and costume jewelry brand aimed at a young clientele on a limited budget, offers jewelry priced at no more than €**. Their equivalents sold by the big luxury brands are almost ten times more expensive.

Costume jewelry sold by luxury brands enables these companies to reach a wider, less affluent clientele than their usual clientele. Indeed, the price of a piece of Dior high jewelry (***), is unaffordable for a more modest clientele, who can nevertheless afford Dior costume jewelry and thus have the impression of consuming luxury at low cost.

Source: ****

4.4 The growing importance of environmental issues

The importance of ecological and responsible consumption has been growing in recent years, and the jewelry market is no exception. Over the last few years, a number of brands have emerged, exclusively online, that present themselves as more ethical than their older competitors.

Ana Luisa

Ana Luisa is an American jewelry brand with an online-only presence. It has made a name for itself through partnerships with female influencers. The materials used in this brand's jewelry are recycled, and the crystals/diamonds can be sourced transparently. The jewels are made in China, but the brand prides itself on upholding a code of conduct and regularly checks the factories where its products are made to ensure that they comply with its principles.

The brand has been certified "climate neutral" since ****. The graph below shows the breakdown of carbon footprint factors required to manufacture a piece of jewelry. The company claims that ***% of the carbon footprint, i.e. all the steps shown in the graph below, are offset.

Breakdown of carbon footprint factors for the production of an Ana Luisa jewel World, ****, in Source: ****

Who We Are

Who We Are is a French brand founded by Emma Robert in ****. The company also has an ...

5.1 Regulated use of materials for jewelry creation

According to theDirection Générale de la Concurrence, de la Consommation et de la Répression des Fraudes,DGCCRF(***).

Jewelry manufacturers must comply with rules governing the composition of their products, and distributors must properly inform consumers. Professionals are also prohibited from using misleading names to describe the properties of the products they sell.

The artisanal nature of the sector, combined with a lack of information between players and a lack of controls, results in breaches of the regulations. The DGCCRF is responsible for analyzing product samples to verify that these standards are in place.

The use of precious metals implies obligations of guarantee and origin, and the products concerned are subject to a special tax.

The actual composition of the gems and stones used must also be clearly communicated to the customer (***).

5.2 Tax on watchmaking, jewelry, goldsmithing and tableware products

HBJOAT tax (***)

All companies that manufacture or retail watchmaking, jewelry, goldsmithing and tableware products(***) must pay a tax on these products.

Manufacturers of costume jewelry are exempt from this tax if they sell their products directly to consumers. In the case of sales to distributors and other professionals in the sector, the tax is applicable. The current applicable rate is:

*.**% of sales excluding tax for **** declarations; *.**% of sales excluding tax for earlier declarations.

Application of the tax

The tax must be declared and paid to the Comité Francéclat on a monthly, quarterly or annual basis, depending on the amount assessed.

Newly-created companies must declare and pay the HBJOAT tax in January following their creation, and receive a declaration slip for this purpose in December.

The following is a summary of the cases in which the tax applies to costume jewelry manufacturers.

Source: ****

6.1 Segmentation

• Moa
• Rand Diffusion (Bala Boosté)
• Gemafi Maty
• Ambre et Valentine (Jollia)
• Agatha
• JLN Taratata
• Gas Bijoux
• Thom Group (Smizze, Marc Orian, Histoire d'or)
• Bershka
• Promod
• Jolie Demoiselle
• 24Sèvres
• Cécile et Jeanne
• Defi International (Emma & Chloe)
• Christian Dior Couture
• Cluse
• Simone à Bordeaux
• Maison Dorée
• Jizelle Paris
• Nach Bijoux
• Jardin des Bijoux
• Bijou Brigitte
• Victoria Bijoux
• Dodo (Kering)
• Reminiscence
• Titlee
• L'Atelier D'amaya
• Hipanema
• Satellite
• Les Néréides
• Moonsoon Accessorize
• Pdpaola
• Pandora
• GL Groupe (Renaissance Luxury Group)
• Renaissance Luxury Groupe
• Miramira
• Mylittlefantaisie
• Claire's France