Designer apparel and footwear registered a huge hit in 2020, due to the pandemic. In 2021, with society gradually opening up, including retail outlets, value growth is expected to be in the double digits.
Luxury jewellery companies are concentrated in Kiev, the capital city, where the core consumer base lives and works. The segment is led by renowned international luxury brands like Van Cleef & Arpels, Swarovski and Cartier, although the competitive landscape is highly fragmented.
Luxury jewellery continues to be dominated by products targeting women, with value sales for women being nearly ten times higher than for men. This is also partly driven by higher average unit price for women’s luxury jewellery, compared to men’s.
Luxury jewellery will register healthy constant value growth over the forecast period, as long as the economy recovers quickly from the pandemic. However, unlike other luxury goods, e-commerce will register limited growth as consumers of luxury jewellery very much look for an experiential experience as they muse over which jewellery to purchase, with the ambiance of the showroom and the interaction with the sales assistant being a critical factor in deciding on a purchase.
Demand for luxury costume jewellery will continue to increase, driven mainly by younger consumers. The younger generation are increasingly searching for interesting pieces that allow them to show their status and distinguish themselves from their peers.
While local designer pieces tend not to be positioned as luxury jewellery, they offer highly expensive, individual fine jewellery made from prestigious materials like gold and diamonds. Nonetheless, most local players focus on mass products, with rare forays into luxury jewellery.
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Understand the latest market trends and future growth opportunities for the Luxury Jewellery industry in Ukraine with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of luxury fine jewellery and luxury costume jewellery.See All of Our Definitions
This report originates from Passport, our Luxury Jewellery research and analysis database.
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