Luxury Watches & Jewelry - United Kingdom

United Kingdom

In the United Kingdom, the revenue in the Luxury Watches & Jewelry market for 2024 is projected to reach £2.02bn.
It is anticipated that the market will experience an annual growth rate of 0.25% (CAGR 2024-2028).
Compared to other countries worldwide, in China generates the highest revenue in this segment, with an estimated £19,420m in 2024.
In terms of per capita revenue, in the United Kingdom is expected to generate £29.69 per person in 2024.
The United Kingdom has seen a resurgence in demand for luxury watches and jewelry, with British consumers increasingly valuing craftsmanship and heritage brands.

Key regions: United Kingdom, China, France, South Korea, Japan

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Analyst Opinion

Hard luxury is a mainstay of the personal luxury goods industry and still accounts for a high share of sales, yet it has been characterized by relatively low growth in recent years due to an economic slowdown and changing consumption habits, especially in the Greater China region, which used to fuel global sales at the beginning of the decade. The biggest players in this field are LVMH, Richemont, Kering, Swatch, Chow Tai Fook, Lao Feng Xiang, and Rolex. A detailed list of all assessed companies and their brands can be found in the methodology.

Methodology

The Luxury Watches & Jewelry market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Watches & Jewelry industry.