Luxury Watches & Jewelry - Italy

Italy

In Italy, the Luxury Watches & Jewelry market generates a revenue of €2.61bn in 2024.
It is projected to experience an annual growth rate of 2.06% (CAGR 2024-2029).
When compared to other countries worldwide, in China leads the market with a revenue of €56,280m in 2024.
In terms of per capita income, each individual in Italy contributes €44.38 to the revenue in 2024.
Italian luxury watch brands, such as Panerai and Bvlgari, continue to dominate the global market with their exquisite craftsmanship and timeless designs.

Key regions: United Kingdom, South Korea, Italy, Japan, India

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Analyst Opinion

Hard luxury is a mainstay of the personal luxury goods industry and still accounts for a high share of sales, yet it has been characterized by relatively low growth in recent years due to an economic slowdown and changing consumption habits, especially in the Greater China region, which used to fuel global sales at the beginning of the decade. The biggest players in this field are LVMH, Richemont, Kering, Swatch, Chow Tai Fook, Lao Feng Xiang, and Rolex. A detailed list of all assessed companies and their brands can be found in the methodology.

Methodology

The Luxury Watches & Jewelry market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Watches & Jewelry industry.