International News
Jewellery sector’s growth will be fueled by a younger, diverse clientele: McKinsey & Co luxury fashion report
Jewellery sales are expected to regain momentum with 3% to 5% projected growth. An increasing number of consumers will transition from non-branded to branded jewellery.
A 2025 luxury fashion report by McKinsey & Co forecasts jewellery and leather goods to be the fastest-growing categories of the luxury goods industry through 2027. The jewellery sector’s growth will be fuelled by a younger and more diverse clientele.
The report notes that in the period 2019-2023, the jewellery category experienced a remarkable 8% CAGR (compound annual growth rate), globally. However, in 2024, growth slowed down between 2% to 4%. This year, jewellery sales are expected to regain momentum with 3% to 5% projected growth, and accelerate to 4% to 6% by 2027.
Jewellery sector’s growth in the next 3 years will be shaped by shifting customer profiles and buying behaviours. An increasing number of consumers will transition from non-branded to branded jewellery.
High jewellery sales are likely to increase in line with the growing number of ultra-high-net-worth individuals worldwide. Moreover, growing interest among younger buyers in genderless jewellery, along with luxury brands investing in technology and immersive experiences will further shape interest among digital natives and new consumers
However, the report cautions that an uncertainty in a clear segregation between lab-grown diamond and natural diamond markets could pose a challenge to this growth.
Key points:
- Jewellery to grow globally between 4%-6% through 2027: McKinsey & Co.
- High-jewellery demand to rise as the wealthy population grows worldwide.
- Global iconic jewellery brands continue to lead growth for luxury conglomerates
- Diamond-studded jewellery to see the biggest growth in India in 2025: Redseer
- India’s precious jewellery market to grow at a healthy 11-13% CAGR until 2028
- Organised jewellery sector in India to grow 20% year-on-year in FY25: Ind-Ra
International News
Gemfields Auctions Revenue Falls Short Of Expectations In 2025
Auction Revenue Slumps to $129m As Demand Skips Smaller Good
Gemfields reported disappointing auction revenue of just $129 million from its seven sales in 2025, well below expectations amid fragile market sentiment and persistent volatility. Demand proved uneven, with buyers shunning lower-quality and smaller-sized goods while showing more interest in premium material.
The coloured-gemstone miner, which operates the Kagem emerald mine in Zambia and the Montepuez ruby deposit in Mozambique, faced operational setbacks at both sites, including delays to Montepuez’s second processing plant, illegal mining, and grade volatility. These issues curtailed premium ruby output, disrupted auction schedules, and reduced cash generation despite tight cost control.
Pricing for high-quality emeralds and rubies improved progressively throughout the year. To strengthen its balance sheet, Gemfields prioritised deleveraging, including the $50 million sale of its luxury brand Fabergé. The company expects plant delays to persist into the first half of 2026 and will release full-year results on 26 March.
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