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
GJEPC Brisbane Outreach Connects Indian Exporters With Queensland Jewellery Trade
India’s Gem and Jewellery Exports To Australia Reached US$374.33 Million In FY2025–26, Up 16% From US$322.72 Million A Year Earlier
The Brisbane portion of GJEPC’s Australia-New Zealand trade mission brought Indian gem and jewellery exporters into discussions with Queensland’s jewellery retailers, wholesalers and business bodies, while reinforcing the opportunities created by the India-Australia ECTA.
Led by Vijay Mangukiya, Convener – International Events, GJEPC, the delegation visited Brisbane on 24-25 August 2026 and met Ms. Neetu M. Bhagotia, Consul General of India in Brisbane, as part of its engagement with the local jewellery and business community.
India’s gem and jewellery exports to Australia reached US$374.33 million in FY2025–26, up 16% from US$322.72 million a year earlier, as the India–Australia ECTA’s tariff-free market access continues to open opportunities for Indian exporters.
Sridhar Iyengar, Director – International Events, GJEPC, facilitated B2B interactions with local jewellery businesses and representatives of industry and business organisations. The programme included Michael Hill, Salt Wholesaling, Omi En Vogue, Prince Jewellers, along with representatives from Business Chamber Queensland and the Australia India Business Council. The outreach also took the delegation to established jewellery stores such as Wallace Bishop and Hardy Brothers, providing an on-ground view of Australian jewellery retail presentation and merchandising.
The engagement provided the Indian delegation with a closer understanding of Queensland’s retail and wholesale landscape and opportunities to connect Indian manufacturing capabilities with local businesses. The participating Indian companies span natural and lab-grown diamonds, gold, silver, platinum, coloured gemstones and contemporary jewellery.
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