Changing market dynamics amid economic and geopolitical challenges are reshaping the landscape of the jewellery industry by driving shifts in product development, marketing and operations.

Aspire Designs Ltd has observed a growing interest in the market for affordable luxury items, which offer high-quality designs at more accessible price points. 

Consumers are also increasingly gravitating towards jewellery that is sustainably and ethically sourced, said CEO David Shah.

KGK Group is likewise seeing solid demand for jewellery that can be worn daily – more subtle, lightweight items such as studs, delicate pendants and simple bracelets. 

"Long earrings are really popular because they bring a little drama and flair, particularly for special occasions,” said KGK Group Vice Chairman Sanjay Kothari.

He also cited classic designs as one trend that is making a comeback this year, noting that people love jewellery pieces that are timeless.

Creative options

Colour is in too, with coloured gemstones, fancy colour diamonds, enamel and other materials brightening up jewellery pieces.

KGK Group is highlighting its expertise in coloured gemstone jewellery with an expanded collection of ruby, sapphire and emerald pieces in modern designs. 

Aside from the Big Three of coloured gemstones – rubies, emeralds and sapphires – other gems such as spinel, tanzanite, aquamarine are making their way into luxury jewellery creation as well.

Arjun Dangayach of Color Jewels has similarly noticed stronger demand for larger, more creative jewellery pieces. The company has given a fresh twist to its line of fancy colour diamond jewellery, adding little touches such as diamond halos around the main stones.

New prospects

“Rising gold prices are driving consumers to view jewellery as a smart investment, boosting demand for our natural fancy colour diamond offerings,” Dangayach said. “Challenges like market fluctuations remain, but the growth opportunities tied to this investment mindset give us an optimistic outlook for the year.”

The rise of e-commerce is also yielding fresh opportunities – and requirements, said Shah of Aspire Designs.

He explained, “As online shopping becomes a dominant force in the consumer market, many large chain stores and department stores are now seeking suppliers who can provide attractive designs that are as visually stimulating on a computer screen as the physical piece.”

Fresh notion of luxury

At a talk at the Hong Kong Convention and Exhibition Centre, Rita Maltez, global president of jewellery brand Hearts on Fire, underscored the importance of properly communicating the appeal of jewellery to consumers of today. 

“Messaging is important. Traditional luxury messaging does not work, particularly in China where there is a move towards discrete luxury and understated consumption,” she said.

Maltez also pointed to a shift in the notion of luxury, which has been moving from exclusivity to inclusivity. Consumers, she said, want authenticity, and jewellery brands should keep this at the heart of what they do. 

“Digital tools have a role to play and will have a transformative effect on the industry,” Maltez shared. “But craftsmanship, artistry, the human touch and physical experience are critical to success.”

-    Full story in JNA May/June 2025