In this article, we take a look at the 15 biggest jewelry companies in the world. You can skip our detailed analysis of the global jewelry industry and go directly to 5 Biggest Jewelry Companies in the World.
The global jewelry market is valued at $249 billion as of 2021 and is projected to grow with a CAGR of 8.5% from 2022 to 2030 according to Grand View Research. As far as materials go, the industry is dominated by gold, silver, platinum and diamond. Gold held the highest revenue share, at 40%, and is projected to maintain its dominant position in the forecast period.
In terms of product, ring dominates the market with the highest revenue share at 25%. The demand for rings is primarily driven by weddings. It is the most popular wedding jewelry item across many cultures around the world. It is followed by the demand in bracelets, which has a projected CAGR of 8.9% for the period 2022-2030.
Another important insight from the report shows that Asia-Pacific holds the greatest share of the jewelry market, at a whopping 60%. It can be attributed to the growth in the size of the middle class in countries like China and India, that have a collective population of 2.8 billion.
Insofar as the US is concerned, its jewelry market added $47 billion to the global jewelry market in 2021. It grew 27% from 2020, which had seen a 13.4% decline from 2019, presumably due to the onset of the pandemic and the following supply chain disruptions and lockdowns.
The growth in jewelry market in the US apparently fell in 2022 but that can be interpreted as normal given the pandemic correction in 2021 due to delayed events like weddings. The demand is steadily growing in the US due to falling gold and silver prices, and rising GDP per capita.
While the pandemic hurt the industry, it was not all bad. A survey conducted by The Plumb Club showed a net 9% respondents saying their jewelry shopping rose amid the pandemic.
Jewelry is a prominent aspect of many cultures, especially in Asia-Pacific. For instance, in India, there are numerous events that drive up jewelry sales. These include weddings, Diwali as well as other religious events. Further, wearing jewelry is often associated with certain Hindu religious traditions. StarLuxe, Nemichand Bemalwa & Sons, M&B private jewelers, Titan Company, and Chow Tai Fook are some of the top companies in the Asia-Pacific region.
Another factor in global jewelry market growth is that men, especially in the western world, have also been increasingly buying more jewelry compared to the past as gender roles lose their grip on society. According to Euromonitor International, men’s jewelry market size is worth $6.5 billion within the larger market as of 2021, indicating a 17% growth from 2020.
LVMH Moët Hennessy – Louis Vuitton, Société Européenne (PARIS:MC.PA) and Chanel are some of the most prominent companies in Europe and North America. Other than physical stores, their products can be conveniently purchased online via Amazon.com, Inc. (NASDAQ:AMZN), Walmart Inc. (NYSE:WMT) and eBay Inc. (NASDAQ:EBAY).
Now that we’re done with industry analysis, let’s move on to the 15 biggest jewelry companies in the world.
Photo by Fotis Nakos on Unsplash
For our list of the 15 biggest jewelry companies in the world, we’d be ranking them based on their annual revenue for the latest available fiscal year data. We’d also be discussing secondary factors like number of employees, number of outlets, products and other factors wherever appropriate.
Here are the 15 biggest jewelry companies in the world:
Annual Revenue 2021: $0.7 billion
Graff is a global jewelry company based in London. It designs, makes and sells jewelry and watches. The company’s high jewelry is especially exquisite. It’s made with unique and rare gems. These include emeralds, white & yellow diamonds, rubies and sapphires.
The company’s high jewelry collection also includes jewelry made with Graff’s Infinity, Timeline, Empress and Lesedi La Rona diamonds. Graff’s products can be purchased from 50 stores it operates across the world, which employ over 500 people as of 2021. In the same year, Graff had a revenue of $697 million.
Graff’s items can be found either on their own website, or on Amazon.com, Inc. (NASDAQ:AMZN), Walmart Inc. (NYSE:WMT) and eBay Inc. (NASDAQ:EBAY).
14. Audemars Piguet
Annual Revenue 2021: $1.6 billion
Audemars Piguet is a Swiss luxury watchmaker based in Le Brassus, Switzerland. Its Royal-Oak line of watches are its best-selling products and also helped the company rise to prominence. It is also a leader in innovation in functional jewelry.
It pioneered carbon movement in 2007 through Royal-Oak Carbon Concept. It went on to develop the first independent-memory-mechanical-chronograph in 2015 and introduced it in its Royal Oak Concept: Laptimer Michael Schumacher. The company employs over 1,400 people as of 2021.
13. Prada S.p.A. (OTCMKTS:PRDSF)
Annual Revenue 2021: $3 billion
Prada is an Italian high-end luxury company, owned and operated by the Prada S.p.A. (OTCMKTS:PRDSF). It designs and sells luxury accessories (including jewelry) for both men and women. Its jewelry collection includes fine jewelry, silver jewelry, fashion jewelry and customized jewelry.
Prada S.p.A (OTCMKTS:PRDSF) operates a global network of 635 retail outlets in over 70 countries and employs over 13,000 people. Its annual revenue for FY 2021 was $2.87 billion. Prada has a market share of $13 billion as of 2022.
12. Burberry Group plc (LSE:BRBY.L)
Annual Revenue 2021: $3 billion
Burberry Group plc (LSE:BRBY.L) is a British luxury company based in London. It designs and sells fashion apparel as well as accessories which primarily include jewelry for men and women. The company generated an annual revenue of $3 billion in 2021 in worldwide sales and had a total of 9,234 employees across the globe in the same year.
In terms of jewelry, Burberry Group plc (LSE:BRBY.L) sells bracelets, necklaces, tie bars, signet rings and cufflinks made of palladium for men. Its women’s jewelry includes items like motif rings, earrings, necklaces and bracelets made of gold and palladium.
11. Pandora A/S (OTCMKTS:PANDY)
Annual Revenue 2021: $3.5 billion
Pandora A/S (OTCMKTS:PANDY) is a globally renowned jewelry brand based in Copenhagen, Denmark. It was founded in 1982 by Danish goldsmith Per Enevoldsen, who imported jewelry from Thailand and sold it in Denmark. The manufacturing site of Pandora A/S (OTCMKTS:PANDY) is located in Thailand and the company sells its jewelry in more than 100 countries through 6,800 points of sale. It has nearly 22,500 employees worldwide.
Pandora A/S (OTCMKTS:PANDY) generated $3.5 billion in revenue in 2021, a 23% increase from the previous year. The rather significant growth in revenue has to do with its expansion in the US. The country accounted for 30% of Pandora’s sales, which were up 24% from 2020.
10. Signet Jewelers Limited (NYSE:SIG)
Annual Revenue 2022: $7.8 billion
Signet Jewelers Limited (NYSE:SIG) is one of the world’s biggest jewelry companies in the world. It is based in Akron, Ohio. The company operates in the mid-market jewelry segment and gained 270 basis points in market share in 2022. Signet Jewelers Limited (NYSE:SIG) employs over 30,000 people across the world in roughly 2,800 stores. Its revenue for fiscal year 2022 was $7.8 billion.
As of the third quarter of 2022, 28 hedge funds held a total equity of $806 million in Signet Jewelers Limited (NYSE:SIG), with Select Equity Group having the Lion’s share at $567 million.
Signet Jewelers Limited (NYSE:SIG) runs its business with what it calls the “inspiring brilliance” strategy. Its principles include consolidation in big business, accelerating service and digital-commerce aspects of the company and expansion in accessible luxury and value in top mid-tier and low mid-tier jewelry segments.
9. The Swatch Group AG (OTCMKTS:SWGAY)
Annual Revenue 2021: $8 billion
The Swatch Group AG (OTCMKTS:SWGAY) is one of the largest luxury watch conglomerates in the world. It is headquartered in Biel/Bienne, Switzerland. The company is parent to brands like Swatch, Harry Winston, Blancpain, Tissot, Rado, Omega and Longines. Its brand, Harry Winston, is particularly known for diamond and other high-end jewelry for both men and women.
Other brands like Rado and Omega are also world-famous for mid-tier as well as luxury watches. The Swatch Group AG (OTCMKTS:SWGAY) had a revenue of $8 billion in 2021, with an Year on Year growth of 11%. The company has a share of 25% in the luxury watch market worldwide as of 2020. The Swatch Group AG (OTCMKTS:SWGAY) employs over 31,000 people globally as of 2021.
8. Hermès International Société en commandite par actions (OTCMKTS:HESAY)
Annual Revenue 2021: $10 billion
Hermès International Société en commandite par actions (OTCMKTS:HESAY), popularly known as Hermès, is a French luxury company that designs and sells high-end jewelry and other accessories like handbags, wallets, ties, belts, shoes and scarves, for both men and women.
Its Collier de Chien, Clic Clac/Clic H and Rivale are some of the most popular bracelets on the market. Hermès International Société en commandite par actions (OTCMKTS:HESAY) sells worldwide and has a market cap of $163 billion as of 2021. Its annual revenue for the same year was $10 billion, with an YoY growth of 24%.
Hermès International Société en commandite par actions (OTCMKTS:HESAY) operates 306 retail stores globally and employs roughly 16,000 people as of 2021.
7. Chow Tai Fook Jewellry Group Limited (HKSE:1929.HK)
Annual Revenue 2022: $12.5 billion
Chow Tai Fook Jewellry Group Limited (HKSE:1929.HK) is a Hong-Kong based conglomerate and one of the biggest jewelry companies in the world. Their revenue for fiscal year 2022 was $12.5 billion.
The company’s edge, so to speak, is that apart from conventional jewelry designs, it also offers jewelry in cartoon designs, like Mickey Mouse and Bao-Bao-Family rings and necklaces.
As of 2022, Chow Tai Fook Jewellry Group Limited (HKSE:1929.HK) has over 5,900 jewelry stores all over the world, operated by about 29,000 employees. In FY 2022, 88% of the company’s revenue came from China, where it captures 8.1% of the jewelry market.
6. Rolex SA
Annual Revenue 2021: $13 billion
Rolex SA is a world-renowned luxury swiss-watch company headquartered in Geneva, Switzerland. Its premium watches are handcrafted and go by the brand name, Rolex, and are worn as high-end jewelry items. Some of its prominent watches include Datejust, Yachtmaster, Daytona, and Submariner.
The company had an annual revenue of $13 billion in 2021. In the same year, it had a market share of 29%, as much as the next 5 companies combined.
As of 2022, Rolex watches are available at 1816 authorized retail outlets across the globe. You can check out their products’ reviews on Amazon.com, Inc. (NASDAQ:AMZN), Walmart Inc. (NYSE:WMT), eBay Inc. (NASDAQ:EBAY).
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Disclosure: none. 15 Biggest Jewelry Companies in the World is originally published on Insider Monkey.