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The State of Fashion:Luxury 2025

McKinsey & Company and BoF Insights report

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Global fashion faces challenging landscape

The ninth annual State of Fashion report by McKinsey & Company and BoF Insights highlights the challenging landscape the global fashion industry faces in 2025. With economic uncertainty, changing consumer behaviors, and evolving market dynamics, the year is expected to be a critical juncture for many brands.

Overview

Economic Challenges: 80% of executives foresee no improvement in the industry, and only 18% rank sustainability as a top concern, down from 29% in 2024. Consumer confidence and spending remain major issues.

Key Drivers: Price sensitivity, the rise of dupes, climate change acceleration, and reshuffled global trade create a difficult environment.

Geographic Shifts: Growth engines in Asia, particularly India, Japan, and Korea, are becoming pivotal as China faces economic challenges.

Themes Driving the Agenda

Trade Reconfigured: Brands are diversifying sourcing to align with evolving trade policies and sustainability targets. Nearshoring and political alignment are critical considerations.

Asia’s Growth Engines: While China slows, India, Japan, and Korea are emerging as vital markets for growth.

Discovery Reinvented: AI-driven curation in e-commerce promises to help overwhelmed shoppers navigate abundant choices.

Silver Spenders: The growing over-50 demographic offers new opportunities for incremental growth, emphasizing the need for inter-generational appeal.

Value Shift: Resale, off-price, and dupe markets are flourishing as consumers seek better value amid persistent economic pressures.

The Human Side of Sales: Enhancing in-store experiences by empowering well-trained sales staff can drive demand for physical retail.

Marketplaces Disrupted: Online non-luxury marketplaces face existential challenges, struggling with declining demand and rising customer acquisition costs.

Sportswear Showdown: Challenger brands are rapidly gaining market share, driving competition in the dynamic sportswear segment.

Inventory Excellence: Advances in inventory management and agile supply chains are key to addressing margin pressures and meeting sustainability goals.

The Sustainability Collective: Collective action is essential to meet decarbonization goals despite consumer reluctance to pay premiums for sustainable products.

Looking Ahead

The industry’s outlook remains sluggish, with revenue growth stabilizing in low single digits. Luxury’s dominance in profit creation is challenged by non-luxury segments for the first time since 2010. Brands that act nimbly to address geographic shifts, demographic changes, and technological innovations will find opportunities amid the turbulence.

Growth in the jewellery sector will be fueled by rising demand from ultra-high spenders and continuous investment from luxury houses in technology and expertise.

The new playbook for 2025 emphasizes adaptability, localization, and sustainability, while redefining value and consumer engagement. The fashion sector must innovate, embrace technology, and prioritize long-term resilience to navigate this period of reckoning successfully.

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JB Insights

Silver Show Of India – SSI 4th Edition – A Definitive Report On Product Offerings & Brand Showcases

A Celebration Of Silver Excellence: Showcasing Innovation, Heritage Craftsmanship, Luxury Design, and Emerging Trends Across India’s Silver Industry

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The Silver Showcase India 4th Edition in Mumbai became the stage for an extraordinary convergence of heritage artistry, technological innovation, and contemporary luxury. From floating idols to regal woven gowns, the breadth of India’s silver craftsmanship was on breathtaking display.

CATEGORY

Jewellery & Wearables

Anmol Silver
HERITAGE ARTISTRY

Anmol Silver debuted its Rudra Series, a deeply reverent collection drawing from the wellspring of traditional Indian artistry. Each piece embodies the spiritual weight of heritage craftsmanship, rendered in silver with meticulous attention to iconographic detail and surface treatment. 

Navkar Sterling Silver
SHELL & SILVER COLLECTION

Navkar unveiled the Shell & Silver Collection — a graceful marriage of sterling silver with the lustrous iridescence of mother-of-pearl. Accented with rubies and emeralds, the range strikes a confident balance between organic texture and gemstone brilliance. 

MJR Silver
MASTERPIECE JEWELLERY

MJR Silver commanded attention with a magnificent oversized haaram emblazoned with the iconic MJR logo — a tour de force weaving together kundan setting, delicate paper casting, modern electroforming, and soulful hand nakashi work in a single statement piece. 

Ricchezza
MEN’S RPT COLLECTION

Ricchezza showcased its Hollow Men’s RPT Jewellery line — kadas, bracelets, and neckwear crafted to redefine masculine silver adornment. The hollow construction delivers substantial visual presence with refined, everyday wearability. 

Lavira by Tirupati Gems
LADIES’ LIFESTYLE JEWELLERY

Lavira presented intricately crafted ladies’ handbags in 925 silver alongside handcuffs, haath phools, bangles, and rings, all in 925 silver with luxurious gold plating, adorned with vibrant colour stones and delicate floral motifs that celebrate contemporary elegance. 

Silverio Artesa
BROOCHES & STATEMENT NECKLACES

A striking collection of men’s brooches featuring regal elephant, lion, and other motifs blends bold symbolism with refined craft. The brand also unveiled an avant-garde CZ and colour-stone necklace, and a rose gold–finished enamel creation in a vivid palette. 

Shree Omkar Jewellers
925 SILVER STATEMENT NECKLACES

Three distinct necklaces define the showcase: a gold-polished Pachi work piece; a magnificent Nakshi necklace with a central Goddess Lakshmi motif; and a dazzling diamond-finish creation with emerald accents and lustrous rhodium polish — each a tour of India’s royal jewellery traditions.

Tanvi & Co.
HERITAGE COLLECTION

The Heritage Collection necklace in 925 sterling silver with premium rhodium plating features beautifully detailed elephant and floral motifs delicately accented with pearls — a celebration of cultural heritage in which every intricate detail reflects precision and tradition. 

FEATURED MASTERPIECE

Riddhi Siddhi Gems & Jewellery — The Maharani Gown

The undisputed showstopper of SSI 4th Edition was the breathtaking Maharani Gown — an extraordinary fusion of silver and gold threads intricately woven with Navratna gemstones and lustrous pearls. Radiating regal energy through a vibrant multi-coloured palette, the gown was adorned by Nandini Gupta, Miss India 2023–24, elevating the creation into a luminous celebration of heritage luxury and contemporary grandeur. A masterwork at the intersection of jewellery art and haute couture.

CATEGORY

Devotional & Lifestyle

Purple Jewels

TULIP — ULTRA LIGHT IDOLS

Purple Jewels introduced TULIP — The Ultra Light Idols by Purple, showcasing technologically advanced 925 silver idols that set a new benchmark in detailing and finish. Masterpieces include the Sankatmochan Raj Gada and a Lord Balaji statue with an intricate arch.

Emerald Silver

INNOVATION MEETS DIVINITY

Emerald Silver presented EF Electromagnetic Levitation Floating Idols, Silver PRANA LITE paper-casting idols — a cost-effective alternative ideal for gifting and modern living — and Silver Feather Light EF Idols, together representing the rare convergence of innovation and devotional artistry.

Antariksh Jewellers
CHENNAI · TRADITIONAL POOJA SET

Antariksh Jewellers presented an exquisite traditional pooja set comprising a meticulously crafted pooja thali, samai, chambu, bell, udarni, kamachi valak, and aarti — a cohesive expression of ceremonial silver craft, each component purposeful, each surface speaking the language of devotional heritage. 

Antaraa Silver

LUXURY LIFESTYLE ACCESSORIES

Antaraa Silver drew appreciation from industry leaders with its exclusive range of premium silver accessories, luxury pens, and innovative lifestyle products — positioned at the crossroads of utility and luxury, signalling a maturing appetite for silver beyond jewellery and devotional ware. 

CATEGORY

Silver Artefacts & Home

Kraft Silver

EXTRAORDINARY SCULPTURAL DISPLAY

Kraft Silver commanded the floor with an extraordinary display of large-scale silver artefacts. A magnificent silver cow anchored the presentation as a centrepiece of devotional and artistic merit, while a silver sofa pushed the medium into unexpected lifestyle territory. A range of innovative decorative creations completed a showcase that challenged preconceptions about what silver craft can and should be — bold, confident, and expansive in ambition.

CATEGORY

Standout Individual Creations

Sukhraj
TRADITIONAL SATKA

A beautifully crafted traditional Satka (key holder) in silver celebrating Indian heritage. An elegant crescent moon motif with conical pendant is embellished with multi-hued colour stones, folk-art patterns, colourful beads, and shimmering gota patti accents — a striking fusion of artistry, colour, and tradition.

Silver Payal
FIVE-LAYERED ANKLET

A stunning silver payal crafted in an elegant five-layered structure, partially coated in gold and adorned with dazzling CZ and polki-inspired stones. The intricate detailing and harmonious blend of precious finishes transform this anklet into a true work of art, radiant and deeply rooted in South Asian jewellery tradition.

Silver Sindoor Dibbi
CEREMONIAL ACCESSORY

A beautifully crafted sindoor dibbi adorned with intricate geometric patterns and traditional shankh motifs. The elegantly designed lid is embellished with a striking dull orange onyx stone — a ceremonial object elevated to the level of heirloom through the precision of its making.

CATEGORY

Silver Gifting & Children’s Collections

MAA SILVER — Silver Start

TINY TREASURES. TIMELESS MEMORIES.

MAA Silver unveiled SILVER START, a thoughtfully curated gifting collection in 925 silver designed specifically for children. The range spans silver mugs, sippers, glasses, dinner sets, pacifiers, and medicine feeders — everyday essentials reimagined as cherished keepsakes. Each piece is embellished with popular cartoon characters and delightful motifs, combining the purity of silver with child-friendly design language. The collection is positioned as the ideal gifting solution for newborns, naming ceremonies, birthdays, and milestone celebrations.

House of Shah

EXCLUSIVE SILVER CREATIONS

House of Shah showcased its exclusive range of silver jewellery and innovative product offerings, with craftsmanship and design excellence at the forefront. The brand’s presentation affirmed its position as a destination for distinctive silver creation within India’s evolving luxury landscape.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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