Why the Shine Isn’t Fading on Jewellery Sales

Over the next few years, jewellery is forecast to be the fastest-growing category in fashion by unit sales, growing at nearly four times the rate of clothing. Both costume and fine jewellery are expected to grow similarly, with sales growing between 5.3 and 5.6 percent per year through 2028.

This growth is particularly pronounced in branded jewellery: Sales of branded jewellery made up 25 percent of the market in 2024 and grew 8.3 percent per year between 2021 and 2024, almost double unbranded jewellery’s 4.3 percent growth. In 2025, 61 percent of consumers say jewellery is a category in which brand matters most, increasing to 82 percent in China.

Diamond jewellery accounts for roughly one-third of global jewellery sales and is expected to expand at 4 to 5 percent per year through 2028. Within this, lab-grown diamonds are forecast to grow 15 to 16 percent annually as adoption increases, particularly in India, China and the US.

This momentum reflects jewellery’s unique role as both an emotional and financial value store. When asked to compare categories for their investment potential, consumers rank jewellery top — 15 percentage points higher than handbags and other accessories.