The global revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market was forecast to continuously increase between 2024 and 2029 by in total 43.4 billion U.S. dollars (+27.52 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 200.9 billion U.S. dollars and therefore a new peak in 2029.
Data provided by Statista Market Insights are estimates.
Watches and Jewelry are usually referred to as “hard luxury” to differentiate them from fashion and accessories, which are made from comparatively “soft” materials.
The overall definition of this segment follows broadly the Consumer Market Outlook’s Watches and Jewelry segment in the Accessories market, while here only sales of luxury brands are considered, and consequently, trend watches and fashion jewelry are excluded. Another difference is that luxury watches include hand-made watches that are not included in the Accessories market of the Consumer Market Outlook.
The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Accordingly, watches and jewelry from smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.
The biggest players in this field are LVMH, Richemont, Kering, Swatch, Chow Tai Fook and Rolex. A detailed list of all assessed companies and their brands can be found in the methodology.
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 had fueled global sales in the beginning of the decade.
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Statista. (September 12, 2024). Revenue of the luxury watches & jewelry industry Worldwide 2019-2029 (in million U.S. dollars) [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/statistics/1294625/global-personal-luxury-watches-and-jewelry-market-value/
Statista. "Revenue of the luxury watches & jewelry industry Worldwide 2019-2029 (in million U.S. dollars)." Chart. September 12, 2024. Statista. Accessed October 06, 2024. https://www.statista.com/statistics/1294625/global-personal-luxury-watches-and-jewelry-market-value/
Statista. (2024). Revenue of the luxury watches & jewelry industry Worldwide 2019-2029 (in million U.S. dollars). Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/statistics/1294625/global-personal-luxury-watches-and-jewelry-market-value/
Statista. "Revenue of The Luxury Watches & Jewelry Industry Worldwide 2019-2029 (in Million U.S. Dollars)." Statista, Statista Inc., 12 Sep 2024, https://www.statista.com/statistics/1294625/global-personal-luxury-watches-and-jewelry-market-value/
Statista, Revenue of the luxury watches & jewelry industry Worldwide 2019-2029 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1294625/global-personal-luxury-watches-and-jewelry-market-value/ (last visited October 06, 2024)
Revenue of the luxury watches & jewelry industry Worldwide 2019-2029 (in million U.S. dollars) [Graph], Statista, September 12, 2024. [Online]. Available: https://www.statista.com/statistics/1294625/global-personal-luxury-watches-and-jewelry-market-value/