While overall global jewelry sales are slowing, there is one category instead that seems to be traveling against the tide: men’s precious jewelry. This segment grew by 9% in business, a higher percentage than the growth achieved by the women’s category, which clearly still dominates the overall jewelery market. $216.48 billion market in 2022. But what motivates the development of this business?
men’s jewelry event
Many retailers have taken note of this trend, fueled in part by the breakdown of the gender code. “A more fluid approach to masculinity, which has been evident in ready-to-wear for several seasons now, is also changing the way we look at men’s jewellery,” said Maxime de Terckheim, senior jewelery bier and watches at Mister Porter. Used to be.”
Luxury retailer Brown has seen triple-digit growth in sales of “for her” jewelry over the past three seasons. While in the United States and Europe, the assortment of men’s jewelry doubled in the first quarter of this year compared to the same period in 2021. Most popular product? At the top, pearl necklaces and beaded bracelets are masters with jumps of 111% and 200%, respectively.
Marketing campaigns and the role of prominent personalities from the international jet set are also very important for the growth of the segment. Singer Harry Styles or actor Timothée Chalamet are just a few of the many well-known faces who have promoted the desirability of jewelery for men, thereby helping to break down any prejudices.
market size
It is not yet clear how much the men’s jewelery segment will contribute to the overall growth of the market. In any case, the total business size is projected to reach $224.38 billion in 2023. 308.36 billion by 2030 with a CAGR of 4.6%. The main drivers of growth are the idea of jewelery as a status symbol, but also the vision of this product category as an investment asset.
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