COVID-19 and the economic recession affected luxury jewellery particularly severely in 2020. Many traditional luxury jewellery brands rely heavily on store-based sales and have limited digital presence.
Vintage/pre-owned luxury jewellery has been growing in popularity in Sweden. Luxury jewellery is, along with leather goods and timepieces, one of the main areas of interest for luxury vintage.
In luxury jewellery, Scandinavian brands such as Georg Jensen, Hallbergs Collection and Engelbert Stockholm hold the leading positions thanks to their wide retail networks. These Scandinavian brands tend to be positioned at the lower end of the luxury price spectrum, hence their stronger volume sales.
Most luxury jewellery is still sold through traditional jewellery specialists in Sweden. This naturally benefits leading chains such as Hallbergs Guld, which sells both its own Hallbergs Collection as well as other players’ brands.
Increasing online sales are expected to put an increasing degree of price pressure on luxury jewellery, especially luxury costume jewellery. Online stores, such as Royal Design, which carry a wide assortment of interior design, furniture and jewellery, and which stock many well-known brands, for example Gucci and Georg Jensen, often offer discounts during sales events.
Maria Nilsdotter, a smaller brand than Georg Hensen, Hallsbergs Collection and Engelbert Stockholm, is expected to gain in value share in the forecast period. The brand is synonymous with Scandinavian style in jewellery design.
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Understand the latest market trends and future growth opportunities for the Luxury Jewellery industry in Sweden with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Luxury Jewellery research and analysis database.
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