Summary of our market study

Jewelry sales in France exceed €3 billion

The market is characterized by a high concentration of brands in large global groups.

In 2023production of precious jewelryis estimated at 4.7 billion euroswhile costume jewelryis over 500 million euros.

Most jewelry purchases are made by women themselves, particularly those aged 30 to 45 and belonging to higher socio-professional classes.

E-commerce has carved out a significant place for itself among urban dwellers and young people.

Women are more likely to buy jewelry, generally spending between 160 and 170 euros, while men, who account for a smaller percentage of buyers, spend around 230 to 240 euros.

Between 25 and 30% of consumers spend more than 300 euros per purchase, 20% between 100 and 300 euros and between 25 and 30% between 50 and 100 euros.

Rings stand out as the preferred choice for both men (50%) and women, with men showing a 45-50% preference for rings. More than half of young people (18-34) have purchased jewelry at least once.

Gold jewelry accounts for around a third of sales, followed closely by watches. Gold-plated and silver jewelry account for around 15% of sales. Gold jewelry set with diamonds has seen its share rise from 38% to around 43% in the space of seven years.

French jewelry market players

Luxury brands
- LVMH: Luxury conglomerate with an impressive portfolio of renowned jewelry brands.
- Chanel .
- Cartier
- Pierre Guérin: Brand known for its personalized pieces .
- Tiffany (Groupe) LVMH.
- Hermès
Fine jewelry
- Chaumet
- Boucheron
- Chopard
- Messika
- Courbet specializes in synthetic diamonds.

the jewellery market - France

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Number of pages : ~ 40 pages
Format : Digital and PDF versions
Last update : 22/05/2024

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Summary and extracts

1 Market overview

1.1 Definition and presentation

Jewelry refers to the art of making jewels and ornaments (jewelry) using precious stones, gemstones, pearls, ornamental stones and metals such as gold, silver or platinum. The market can be segmented according to the range of jewels produced, but also by type: rings, bracelets, necklaces, earrings, timepieces, etc.

Worldwide sales of jewelry are estimated at over $353 billion in 2023. French jewelry is world-renowned for its creativity, craftsmanship and elegance, with the presence of many world-famous French jewellers (Van Cleef, Cartier, Alexandre Reza, etc.).

The jewellery market is currently affected by the relocation of production facilities to Asia. Although this trend is less pronounced for high-quality jewelry, manufacturers are concerned about this trend. That's why, in 2006, they created the"Joaillerie de France" label, a genuine promotional tool for manufacturers, particularly in the export market. It's an indisputable way of promoting and authenticating French jewellery-making expertise, and clarifying the origin of manufacture. The label has been a great success since its inception, with more than 10 jewelers receiving the label at the 2012 BaselWorld show.

China's economic boom represents a significant potential source of new customers for French jewelry. This upward trend in exports, together with the renewed attractiveness of the sector, has led to a considerable increase in sales over the past two years, with sales of French jewelry manufacturers forecast to grow by 17% by 2023.

While many sectors are suffering the long-term consequences of the pandemic, and are hampered by the energy and inflationary crisis, the jewelry sector is booming, and offers excellent growth prospects over the coming years.

2 Demand analysis

3 Market structure

4 Offer analysis

5 Regulations

6 Positioning the players

6.1 Player segmentation

LVMH Groupe
Chanel
Cartier (Richemont groupe)
Agatha
Lou Yetu
Defi International (Emma & Chloe)
Hermès International
Thom Group (Smizze, Marc Orian, Histoire d'or)
Philippe Tournaire Joaillerie
FG Manufacture (Dior)
Messika
Usi2M
Orest Abysse Group (LVMH)
Tiffany (LVMH)
Gemafi Maty
Courbet
Dinh van
Poiray
Mauboussin
Van Cleef & Arpels (Groupe Richemont)
Mikimoto
Gemmyo
Pérouse Paris
Oteline (Dior)
FM industries Sycrilor
Salmon Paris
Valérie Danenberg Paris
Chaumet (LVMH Groupe)
Boucheron (Kering Groupe)
Chopard
Piaget (Richemont Group)
Burma
Fred (LVMH)
Pomelatto (Kering groupe)
Repossi (LVMH groupe)
Qeelin (Kering group)
Martin du Daffoy
Bäumer
Compagnie des gemmes
Celine (LVMH group)
Graff Jewels
Tasaki
Anna Hu
Harry Winston (Swatch Group)
LVMH Montres et Joaillerie
J Magazine
Pedemonte (LVMH Groupe)
MCGP Groupe
Louis Laurent Joaillier

List of charts presented in this market study

World jewelry market
World's leading exporters of jewelry articles (UN Comtrade code: 7113)
Sales structure of jewelry manufacturers
Number of companies operating under NAF code 32.12Z
Trends in the price of an ounce of gold
Silver price index in euros
Consumer price index for jewelry and watches (Coicop: 12.3.1)
Jewelry budget in France
Evolution of interest in "jewelry" searches on Google
Most worn jewelry
Jewelry sales by category
Jewelry production by type
Answer to the question: "What type of second-hand gifts have you already given?"
Average annual jewelry budget
Sales index for jewelry manufacturers (NAF code: 32.12Z)
Main jewelry export destinations
Value of French precious jewelry exports
Sales in the jewelry sector
Average jewelry price
Impact of Covid-19 on jewelers' sales (NAF code: 32.12)
Production of natural and synthetic diamonds
France's favorite jewelry brands
Comparison of the level of appreciation of the 3 jewelry brands preferred by the French according to age category
Comparison of the level of appreciation of the 3 jewelry brands preferred by the French according to SPC

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Latest news

Sculptures by Tournaire adorning La Cornue pianos - 23/09/2024

- Tournaire sales: 6 million euros.
- Number of employees: around fifty.
- Factory location: Savigneux (Loire), with a foundry and jewelry workshop.

Inauguration of a Hermès site in Riom, land of volcanoes - 17/09/2024

1. Number of Hermès leather factories in France: 23.
2. Frequency of new leather goods factories opened by Hermès: one per year.
3. Length of training for a leatherworker at Hermès: 18 months for basic training, and 5 years to master the craft.
4. Standard capacity of Hermès leather goods factories: 300 employees, including 260 craftsmen and 40 supervisory and support staff.
5. Year Hermès launched its leather goods division: 1923.
6. Change in contribution to Hermès sales: initially 55% from silk and 9% from leather goods; today, these percentages are largely reversed.

After conquering China, Boucheron sets course for the United States - 13/09/2024

- Opening of the first Boucheron boutique in the United States
- Boucheron is Kering's leading jewelry brand, ahead of Pomellato and Qeelin.
- The United States is the world's second-largest jewelry market after China.
- Boucheron's goal is to open a boutique every six months in the United States, with plans for Las Vegas, Los Angeles and Miami by next year.
- Tiffany is estimated to generate sales of 5.4 billion euros in 2023.
- 20% of top customers (High Net Worth Individuals) account for 70% of local spending on luxury jewelry.
- The global jewelry market is expected to grow by 5% to 6% in 2023.
- Boucheron has opened seventeen boutiques in China and plans to open eight more.
- The brand has around 80 points of sale worldwide, including 20 franchises.
- Boucheron has achieved double-digit growth every quarter since 2021, with sales estimated at between 300 and 400 million euros.
- Boucheron acquired a fine jewelry workshop in Paris a year ago.

Maty buys Cresus pre-owned luxury watches - 06/09/2024

- 1993: Year of creation of Cresus, specialized in buying and selling pre-owned luxury watches.
- 2 boutiques retained (Lyon and Bordeaux) out of the original 5, following the takeover by Maty.
- 15 of the original 30 Cresus employees taken on.
- More than 500 employees in the total workforce of the Gemafi family holding company following the acquisition of Cresus.
- 40 Maty boutiques in France, possible distribution outlets for the Cresus brand.
-5 to 10%: Share of diversification in the second-hand market in Maty's sales, valued at nearly 100 million euros
- 11 million: Cresus sales in 2023, declining.
- 80%: Share of jewelry in the sales of Maty, founded in the 1950s.
- +75%: Growth forecast for the pre-owned luxury watch market by 2030, according to a Businesscoot study.
- 5 new Cresus corners planned in the best-placed Maty boutiques, as part of the expansion of their commercial partnership.

Louis Ferla, the Frenchman who takes the reins of the jewelry icon - 03/07/2024

Vacheron Constantin: sales of just over 1.1 billion euros.
- Van Cleef & Arpels: sales in excess of 5 billion euros.
- Cartier: sales of 8.3 billion euros, up 6% by 2023

Chanel seeks new impetus with the departure of its artistic director - 06/06/2024

- The Chanel group employs over 36,500 people worldwide.
- Chanel sales 19.7 billion dollars in 2023
- Chanel sales rose by +15.8%.
- In the United States, Chanel sales rose by less than 3% to $3.9 billion.
- In Asia, Chanel sales rose strongly by 17.7% to $8.4 billion.
- Chanel's distribution network has doubled over the last five years.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

LVMH Groupe

Chanel

Cartier (Richemont groupe)

Agatha

Lou Yetu

Defi International (Emma & Chloe)

Hermès International

Thom Group (Smizze, Marc Orian, Histoire d'or)

Philippe Tournaire Joaillerie

FG Manufacture (Dior)

Messika

Usi2M

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