Luxury Watches & Jewelry - Lesotho

Lesotho

in Lesotho, a country known for its rich history and cultural heritage, is not exempt from the allure of luxury watches and jewelry.
In 2024, the revenue in the Luxury Watches & Jewelry market in Lesotho amounted to a substantial US$176.40k.
This figure highlights the strong presence of this market segment in the country.
Looking ahead, the market is projected to experience steady growth, with an anticipated annual increase of -1.37% from 2024 to 2028, as measured by the compound annual growth rate (CAGR).
This growth signifies the rising demand for luxury watches and jewelry in Lesotho, reflecting the evolving preferences of consumers.
In a global context, it is worth noting that in China holds the lion's share of revenue in this segment.
In 2024, in China generated an impressive US$25,250m in revenue, solidifying its position as a dominant player in the luxury watches and jewelry market.
To put the revenue figures in perspective, it is interesting to consider the per capita revenue generated in Lesotho.
In 2024, each person contributed US$0.07 in revenue, showcasing the significance of this market segment for both consumers and the overall economy.
As in Lesotho continues to embrace the allure of luxury watches and jewelry, it is evident that this market segment holds great potential for growth and prosperity in the years to come.
The demand for luxury watches and jewelry in Lesotho is on the rise, driven by a growing affluent population and a desire for high-quality craftsmanship.

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.