Luxury Watches & Jewelry - Luxembourg

Luxembourg

in Luxembourg, a country known for its affluent population and appreciation for luxury goods, is no stranger to the allure of Luxury Watches & Jewelry market.
In 2024, the revenue in this segment amounts to a substantial US$63.18m.
This market is projected to experience steady growth, with an annual increase of 4.81% (CAGR 2024-2028).
When compared on a global scale, it is noteworthy that in China reigns supreme, generating a staggering revenue of US$25,250m in 2024.
However, when considering the per capita perspective, in Luxembourg showcases its opulence, with each person contributing US$95.50 in revenue in the same year.
Luxembourg's affinity for Luxury Watches & Jewelry market is evident, as the market continues to flourish and capture the attention of both locals and visitors alike.
Luxembourg's affluent population and strong tradition of luxury make it a prime market for high-end watches and jewelry.

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.