What’s Really Happening in the Jewelry Industry?

HUR TABLE GUESTS

Nov 22

What’s Really Happening in the Jewelry Industry?

With Hollie Harding, Rosh Mahtani, Marla Aaron and Anna Jewsbury

By HURS Team

People have been adorning their bodies for centuries, but the way we consume jewelry has changed enormously. Firstly, the $280 billion jewelry industry used to be difficult to navigate. Its lingo around materials, weights and karats was difficult to understand for most consumers. You would lean on experts for their opinions and support. But that’s changed. Mirroring the developments in many other industries, the increase in consumer knowledge has been key to opening the market up and making consumers feel more comfortable with buying jewelry on- and offline. From 2012 to 2021, online jewelry sales increased by an average of 3.9 percent every year, with the market expected to reach $25 billion in 2022. In addition to buying new products, there’s a growing interest in vintage, archival and pre-owned pieces. In a world of plenty, some consumers enjoy the hustle of finding that one-of-a-kind gem. The market for secondhand hard luxury, which primarily consists of jewelry and watches, was worth $21 billion globally in 2020 and is growing at 8 percent a year. Platforms like 1stDibs and Sotheby’s have been quick to recognize the opportunity in a market that’s still in its early stages. Lastly, it’s not just about how and what consumers buy, there’s been a change in who buys. More women are buying jewelry for themselves, moving away from the conventional idea that you have to wait for a man to buy you a ring. And when women purchase jewelry they spend more than men do. With all these developments, an industry that was steeped in tradition has become a place of rapid change.

HOLLIE HARDING
Hollie Harding is the Womenswear Non-Apparel Buying Manager at Browns. She oversees the women’s shoes, bags, accessories, fine jewelry, home and beauty buy. Before joining the Browns team in 2016, Harding worked held the role of Menswear Buyer at Harvey Nichols.

ROSH MAHTANI
Jewelry brand Alighieri is rooted in literature and art. Inspired by Dante Alighieri’s book of poems ‘The Divine Comedy’, Rosh Mahtani launched the brand in 2014. The signature Alighieri texture is created by Mahtani by hand, sculpting each piece in wax creating pieces that the brand refers to as modern heirlooms. Since its launch, Alighieri has expanded beyond jewelry into homeware and scarves.

MARLA AARON
Marla Aaron spent over 25 years in the marketing and advertising industry before launching her eponymous jewelry brand in 2012. Aaron’s obsession with bridges, hardware and jewelry led to a collection designed to be worn in infinite ways. Allowing the wearer to make every piece their own. The collection is made and finished by hand in New York.

ANNA JEWSBURY
Anna Jewsbury is the Artistic Director and founder of London-based jewelry brand Completedworks. Jewsbury oversees the development of all collections as well as the brand’s vision and image. Working primarily from recycled materials, the brand has extended its range from just jewelry into ceramics and homeware. Wearers of the brand include Michaela Coel, Emma Watson and Maya Rudolph.

To understand what’s happening inside the jewelry industry, we asked four industry experts about the jewelry industry at large, jewelry and trends, and how the meaning we attach to jewelry has changed.