A new report from Bain & Company, prepared in collaboration with Altagamma, shows that while the global luxury goods market is slowing, the jewelry segment remains remarkably resilient. In 2024, jewelry sales grew by 0–2%, reaching approximately $32 billion, while other categories—like watches and leather goods—saw declines. High-end jewelry collections are the most successful—luxurious, high-quality products attract customers seeking long-lasting value and investment value.
The LVMH Moët Hennessy Louis Vuitton Group is the world's largest luxury goods conglomerate, owning over 75 prestigious brands across various segments: fashion, jewelry, watches, fragrances, wines and spirits, and even hospitality. Its portfolio includes Tiffany & Co., Bulgari, Chaumet, Tag Heuer, and Hublot, as well as fashion brands such as Louis Vuitton, Dior (Christian Dior Couture), Fendi, Givenchy, Marc Jacobs, and Kenzo.
LVMH's leading competitor is the Kering Group, owner of jewelry brands Boucheron and Pomellato, as well as fashion houses such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, and Alexander McQueen. Despite overall revenue declines in 2025, LVMH's jewelry segment grew by 1%, while Kering's jewelry brands showed greater resilience than the rest of the group.
Jewelry is still perceived as a safe investment, especially during uncertain economic times. The growing polarization of the market demonstrates that brands with strong heritage are gaining, while lower-end players are losing out. The luxury goods market remains strong in the Middle East, Latin America, and parts of Southeast Asia, supporting its overall stability and growth.
Poland: A Stable Luxury Jewelry Market
According to a December 2024 KPMG report, the value of the luxury jewelry and watches segment in Poland reached PLN 686 million, representing an increase of approximately 4.2% year-on-year. The average annual growth rate of this market over the last five years has been approximately 4.6%, and forecasts through 2029 indicate stable growth of 7.5% annually.
Bain & Company is a global strategic consulting firm known for its in-depth market analysis, including the luxury goods sector. For over two decades, it has been preparing periodic reports on the state of the luxury industry.
Altagamma is an Italian foundation that brings together leading luxury brands from various sectors, promoting the heritage and quality of the Italian lifestyle worldwide. Together with Bain & Company, it provides valuable data and insights into market evolution.
Sources of information:
https://www.bain.com
https://kpmg.com/pl/pl/home/insights/2024/12/rynek-dobr-luksusowych-w-polsce-edycja-xv.html
https://zegarkiipasja.pl/artykul/38899-raport-rosnie-rynek-dobr-luksusowych-i-zegarkow-w-polsce
https://nationaljeweler.com/articles/14079-jewelry-stays-strong-as-luxury-market-slows-bain-co-says
