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
GIA Celebrates America’s 250th Anniversary With Special Red, White and Blue Gem Showcase
Through This Curated Exhibition, GIA Highlights The Scientific, Historical and Artistic Dimensions Of Gemstones While Commemorating A Major Milestone In American History.
The Gemological Institute of America (GIA) has assembled a distinctive collection of red, white and blue gemstones and pearls to mark the 250th anniversary of the United States. The showcase demonstrates the remarkable diversity of gem materials and highlights how crystal structures, trace elements and natural formation processes influence colour and appearance.
The collection presents a patriotic palette through an array of rare and notable gemstones. Featured in the red category are ruby, red spinel, rhodochrosite and red beryl. A standout exhibit is a finely carved ruby portrait of Abraham Lincoln, underscoring the artistic possibilities of gemstone carving. The display also includes red beryl, one of the world’s rarest gemstones, which is commercially mined only at Utah’s Ruby Violet Mine.
Representing the white and colourless segment are zircon, beryllonite, apophyllite and pearls. Colourless zircon is renowned for its exceptional brilliance and fire, while beryllonite from Maine adds a uniquely American element to the collection. Natural pearls further enrich the display, showcasing the fascinating biomineralisation process through which they are formed inside mollusks.
The blue section features blue spinel, dumortierite, euclase and benitoite. Among these, benitoite holds special significance as California’s state gemstone. First discovered in 1907 and officially designated as the state gem in 1985, benitoite is celebrated for its vivid blue colour and striking sparkle. Despite extensive study, scientists have yet to fully determine the cause of its distinctive hue.
Through this curated exhibition, GIA highlights the scientific, historical and artistic dimensions of gemstones while commemorating a major milestone in American history.
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