"Watches and jewellery work along the same lines" The current wave of mergers and acquisitions, says Eurostaf, should continue. For Eurostaf, jewellery is where luxury companies and groups should be training their sights with proactive strategies that will “reshuffle the deck” in a market traditionally dominated by specialists. Indeed, jewellery remains luxury’s least mature segment, given the large amount of non-branded products. There is also significant potential for growth within the market. The slowdown observed in 2012 should be viewed in the light of exceptional results in the previous two years.
#Pomello jewellery driver
This upturn has benefited every region including Japan, although Asia (excluding Japan) is the main driver for growth. Luxury jewellery and fine jewellery have returned to healthy growth since 2010, notes Eurostaf in a recent survey. In comparison, writes Vontobel bank, sales of timepieces amount to almost USD 40 billion. According to financial analysts Eurostaf, worldwide jewellery sales are worth an estimated USD 100 billion, nine-tenths of which are accountable to non-brand names. Prior to this, in December 2012, Kering, which also owns Boucheron, snapped up Qeelin, a Chinese jewellery brand with more modest sales in the region of EUR 30 million but fast-growing in the Asian markets.Īs Richard Lepeu observes, the watch and jewellery markets are very different in size. One of Europe’s last remaining independent jewellers with 2012 revenues of EUR 146 million, it is valued at between EUR 300 and 350 million.
More recently, in July, Kering (formerly PPR) entered the fray when it acquired Italy’s Pomellato. In January this year, Swatch Group announced it had bought the “king of diamonds” for USD 1 billion. After the takeover of Bulgari by LVMH in 2011 for close to USD 6 million, it was Harry Winston’s turn to change hands. It should come as no surprise, then, that luxury giants have focused their latest big-ticket acquisitions on the jewellery sector.
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