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
CIBJO Alert: Fraudsters Offering Gold-Related Business Deals Under The CIBJO Name
Fraudsters Have Set Up A Domain, cibjo-as.org, and A Person Identifying Himself As Bruce Ikemezu Claims Association With the Site
The World Jewellery Confederation (CIBJO) has alerted the trade to a fresh wave of fraud after impersonators registered a website and began offering gold-related business deals under the organization’s name.
CIBJO said became aware of claims strikingly similar to an earlier scam exposed in January. This time fraudsters have set up a domain, cibjo-as.org, and a person identifying himself as Bruce Ikemezu claims association with the site, the confederation reported.
Unlike CIBJO — a nonprofit representative association that does not trade in physical commodities or financial instruments — the impostors appear to be promoting commercial activity. CIBJO does not trade in any commercial products, the secondhand gold market, nor financial instruments such as gold futures, the organization said in a statement.
CIBJO has no connection to ‘cibjo-as.org’ or Bruce Ikemezu. Any persons making claims in CIBJO’s name are not authorized to do so, and quite possibly could be committing a criminal act.
The confederation said it has filed formal complaints with law-enforcement authorities in multiple countries and urged industry members to exercise caution. Businesses approached with unusual offers should carry out rigorous due diligence before making payments or sharing sensitive information, CIBJO advised. Members who are contacted by individuals claiming to represent CIBJO were told to verify credentials with the CIBJO secretariat.
This alert follows a similar incident in January when an Indian-Japanese group falsely claimed a gold-trading affiliation with CIBJO, highlighting an ongoing pattern of bad actors exploiting the confederation’s name to lend credibility to fraudulent schemes.
Industry parties and buyers are warned to treat unsolicited offers that invoke CIBJO with skepticism and to report suspicious activity to both CIBJO and local authorities.
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