Italian Jewelry Market Overview

Italy’s jewelry industry, including both fine jewelry and fashion jewelry (bijouterie), is a significant segment of the nation’s luxury goods market. The industry’s revenue has risen consistently, with a notable increase from roughly 6.6 billion euros in 2013 to close to 9.2 billion euros by 2019. The sector is also a notable employment provider in Italy, offering jobs to around 22,000 workers.

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Market Pricing and Commerce

Gold, platinum, and silver are the top three materials used in Italian jewelry manufacturing. Gold, the priciest of these materials, was valued at 1,245 euros per ounce in 2019, followed by platinum and silver. Despite these local productions, Italy predominantly imports its precious metals for jewelry-making, with imports in 2019 exceeding 6.5 billion euros. The Italian jewelry sector’s international trade is significantly connected with Switzerland. In 2019, Italy imported Swiss jewelry worth 652 million euros, while exports to Switzerland were valued at 1.2 billion euros.

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Prominent Italian Jewelry Brands

LVMH Italia S.p.A. emerged as the preeminent watch and jewelry manufacturer and distributor in Italy in 2019, boasting sales revenues just above the one billion euro mark. The sampled Italian companies also saw production values grow from 1.74 billion euros in 2015 to over 2.2 billion euros in 2019. With regards to advertising expenditures in the Italian market, Pandora topped the list in 2019, investing around 14.97 million euros in marketing campaigns. Collectively, the Italian jewelry industry allocated 59.4 million euros to advertising in that year.

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Consumer Trends

A survey from 2020 revealed that a significant 52 percent of Italian consumers had no plans to purchase high-end jewelry or watches, while 28 percent anticipated their expenditure on such luxury items would remain unchanged. Moreover, as of March 2020, heightened by the Coronavirus pandemic’s impact, there was an incline among Italian consumers to reduce their jewelry spending.

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