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Global Jewelry Retailing

Market size, retailer strategies, and competitive performance
Report summary
Make informed regional investment decisions with data on expenditure per region for 20052010e and forecasts to 2015 with accompanying analysis Benchmark your company's performance by accessing profiles of 10 key jewelry retailers including key operating statistics and global market shares Make informed product investment decisions by uncovering how the luxury and mass market segments will drive the total global jewelry retailing market

Use this report to maximize the effectiveness of marketing investments by uncovering the strategies being used by the most prominent players in global jewelry retailing

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About this report

Introduction
After shrinking during the recession, the global jewelry and watches market is recovering in 2010 and is poised for further expansion, driven by growth in the luxury segment and the Asia-Pacific region. Global Jewelry Retailing outlines the size and key drivers of the global jewelry sector and contains chapters on 10 leading jewelry retailers accounting for almost a quarter of global sales.

Key findings and highlights

In 2009, the global jewelry retailing market contracted by 0.6% as consumers scaled back discretionary purchases. The outlook is more positive, especially for the luxury segment which is set to increase in value by over 8% in 2010, compared with over 3% for the mass market. Asia-Pacific (excluding Japan) has overtaken the Americas as the leading region for jewelry and watch retailing. The importance of developing operations in fast growth markets is well recognized by leading companies and those that built presence in Asia-Pacific have performed far better that those that did not. Richemont, the global jewelry and watch market leader, now achieves a third of its sales from Asia-Pacific excluding Japan, up from a fifth five years ago. Its operating margin only dropped slightly during the recession thanks in part to continuing strong sales of Cartier in Greater China where it now has almost 400 stores.

Key questions answered

What markets hold the most potential for the precious jewelry and watches sector and should I enter them or invest more in them? What is my companys relative performance in the global jewelry sector and what is an achievable market share objective for my company? What companies could my company partner with in the jewelry and watches sector and what do I need to know to improve my pitch to them? What branded jewelry concessions should I seek and which jewelry and watches brands should receive premium placement in my store? How did Bulgari, Damas Int, Gitanjali, LVMH, Richemont, Signet Group, Swatch Group, Tiffany & Co, Tsutsumi, and Zale Corporation perform last year?

As wealth increases through the Asia-Pacific region and expectations of future

prosperity build, the conventional inclination to save is declining and the younger generation of consumers, particularly based in China, India, and South-East Asia, is spending most of its income on consumer products, especially jewelry and watches.
Ruta Perveneckaite, Retail Analyst

Datamonitor Report
Published: Oct 10 | Code: CM00026-001

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Sample pages

So far many jewelry and watches brands are missing an opportunity by not
launching into the online space. Consumers are now increasingly willing to buy big ticket items online so brands should change their approach to capitalize on this. For example, the US online diamond specialist, Blue Nile, maintained sales throughout the recession and now operates in 24 currencies.
Anne Marie Davis, Practice Leader

Datamonitor Report
Published: Oct 10 | Code: CM00026-001

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Table of contents
OVERVIEW
Summary Crisis halts rapid expansion Recent key events black hole in finances prompts restructuring Financials rapid sales growth set to unwind

EXECUTIVE SUMMARY
Main conclusions

Benchmarks sales drop faster than at rivals Stores end to rapid expansion Outlook bright future if investor confidence restored

MARKET ANALYSIS GITANJALI

Rebound begins in 2010 Sub sector trends Luxury vs mass market Regional summary Japan Rest of Asia-Pacific Stores rapid retail expansion Americas Outlook ambitious operator must show focus Europe Middle East & Africa Indian jeweler with global ambitions Recent key events ambitious investment plans Financials rides out downturn with robust domestic growth Benchmarks buoyant domestic market gives edge over peers

LVMH
Luxury goods build jewelry and watches position Recent key events further investment in brands and new opportunities Financials watches & jewelry suffer more than other parts of LVMH Benchmarks margins weaker than European luxury rivals Stores expansion continues

OUTLOOK & FORECAST

Outlook economic recovery presents new opportunities Forecast Asia-Pacific and luxury segment continue to drive demand

COMPANY COMPARISONS
Market shares Key operating statistics

Outlook recovery uncertain short term

RICHEMONT BULGARI
Emerging market strengths offer recession protection Diversified jewelry-based brand Recent key events 125th anniversary soured by cost cutting Financials sales slump and profits collapse followed by recovery in 2010 to date Benchmarks sales plunge further than rival European groups Stores more cautious opening program Outlook restructuring faces challenges Recent key events board refreshed to oversee recovery Financials expansion in emerging markets limits damage from financial crisis Benchmarks strong margins continue Stores new stores target emerging markets Outlook survives recession in good shape

SIGNET GROUP DAMAS INTERNATIONAL

Emerges stronger following US market shakeout

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Table of contents (continued)

Recent key events corporate focus moves to US Financials margin recovers from 2008/09 sales slump Benchmarks job cuts lift sales per employee Stores estate rationalized to reduce costs Outlook growth potential in US and beyond Jewelry market definition Financial statistics VAT Abbreviations Smaller jewelry and watches retailers, wholesalers, designers

GLOSSARY

SWATCH GROUP
Worlds largest watchmaker Recent key events investments continue Financials outperformance during recession Benchmarks margins the envy of the sector Stores mono and multibrand expansion Outlook exits recession in strengthened position

Ask the analyst Verdict consulting Disclaimer

LIST OF FIGURES
Figure 1: Figure 2: Figure 3: Jewelry and watch expenditure growth by sub sector group 2005-2010e Jewelry and watch expenditure by market segment 20052010e Global jewelry and watch expenditure per region, % share 2005 and 2010e Japan jewelry & watch retail spend and growth 20052010e Japans contribution to sales mix for leading global retailers 2009/10 Rest of Asia-Pacific jewelry & watch retail spend and growth 20052010e Americas jewelry & watch retail spend and growth 2005 2010e Europe jewelry & watch retail spend and growth 2005 2010e Middle East and Africa jewelry & watch retail spend and growth 20052010e Mall of the Emirates 2010 Key issues in the jewelry and watch market 2010 Manufacturer motivations for expanding into retailing 2010 Jeweler responses to rising commodity prices 2010 Jewelry and watch brand building strategies 2010 Artists impression of Louis Vuitton Foundation for Creation 2010 Y-o-Y growth by region % 20102015 Global jewelry & watch expenditure % share per region 2010 and 2015 Luxury and mass market shares of jewelry and watch market 20102015 Luxury and mass market growth rates 20052010 and 20102015 Operating margins of jewelry and watch brands 2009/10 Bulgari watches & jewelry regional sales split 2010 Bulgari product mix 2004-09 Interior of Bulgari flagship store, San Francisco 2010 Damas International sales mix 2005 and 2008/09 LVMH watches & jewelry regional sales split 2009 Interior of TAGHeuer store London Westfield 2010 LVMH retail stores by division December 2009 Richemont brands regional sales split 2009/10 Swatch Group brands net sales split 2009/10

TIFFANY & CO
Distinctive global jeweler Recent key events investment through downturn Financials resilience through recession Benchmarks impressive employee productivity Stores much potential for further expansion Outlook well placed for recovery Figure 8: Figure 9: Figure 10: Figure 11: Figure 12: Figure 13: Figure 14: Figure 15: Figure 16: Figure 17: Figure 18: Figure 19: Figure 4: Figure 5: Figure 6: Figure 7:

TSUTSUMI
Survives in shrinking market Recent key events improves performance Financials forecasts recovery in 2010/11 Benchmarks margins compare favorably with global rivals Stores new openings increase scale Outlook bolder approach needed to fulfill potential

ZALE CORPORATION
Struggles to ensure survival Recent key events financial woes dominate Financials collapse in sales plunges group to loss Benchmarks performance far inferior to Signet Stores occupancy costs reduced through closure program Outlook many challenges ahead Figure 20: Figure 21: Figure 22: Figure 23: Figure 24: Figure 25: Figure 26: Figure 27: Figure 28: Figure 29:

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Table of contents (continued)

Figure 30: Figure 31: Figure 32: Figure 33: Figure 34: Swatch Group brand positioning 2010 Omega store, Resort, Singapore 2010 Hour Passion store, Geneva International Airport store 2010 Tourbillon store, Kitzbuhel 2010 Tiffany regional sales split 2009/10 Table 40: LVMH watches and jewelry trading record in US$ 20052010e Table 41: LVMH benchmarks, year to March 2009 and 2010 Table 42: LVMH retail stores 2005-2010e Table 43: Richemont company overview 2010 Table 44: Richemont trading record 2005-2010 Table 45: Richemont trading record in US$ 2005-2010 Table 46: Richemont jewelry and watch maisons trading record 200510 Table 47: Richemont benchmarks, year to March 2009 & 2010 Table 48: Richemont brands number of retail stores 2005-2010 Table 49: Richemont stores, March 2009 & 2010 Table 50: Signet Group company overview 2010 Table 51: Signet Group trading record 2005-2010 Table 52: Signet divisional trading 2005-2010 Table 53: Signet Group benchmarks, years to January 2009 and 2010 Table 54: Signet Group retail stores 2005-2010e Table 55: Signet US stores 2008-2010 Table 56: Signet UK stores 2008-2010 Table 57: Swatch Group company overview 2010 Table 58: Swatch Group trading record 2005-2010e Table 59: Swatch Group trading record in US$ 2005-2010e Table 60: Swatch Group watches & jewelry trading record 2005-2010e Table 61: Swatch Group watches & jewelry trading record in US$ 2005-2010e Table 62: Swatch Group benchmarks, year to March 2009 & 2010 Table 63: Tiffany & Co company overview 2010 Table 64: Tiffany & Co trading record 2005-2010 Table 65: Tiffany benchmarks, years to January 2009 and 2010 Table 66: Tiffany store portfolio 2005-2010e Table 67: Tsutsumi company overview 2010 Table 68: Tsutsumi trading record 2005-2010 Table 69: Tsutsumi trading record in US$ 2005-2010 Table 70: Tsutsumi benchmarks, year to March 2009 & 2010 Table 71: Zale Corporation company overview 2010 Table 72: Zale Corporation trading record 2005-2010e Table 73: Zale Corporation benchmarks, years to July 2008 and 2009 Table 74: Zale Corporation store portfolio 2005-2010 Table 75: Zale Corporation store formats 2007-2009 Table 76: Smaller jewelry and watches retailers, wholesalers and designers

LIST OF TABLES
Table 1: Table 2: Table 3: Table 4: Table 5: Table 6: Table 7: Table 8: Table 9: Table 10: Table 11: Table 12: Table 13: Table 14: Table 15: Table 16: Table 17: Table 18: Table 19: Table 20: Table 21: Table 22: Table 23: Table 24: Table 25: Table 26: Table 27: Table 28: Table 29: Table 30: Table 31: Table 32: Table 33: Table 34: Table 35: Table 36: Table 37: Table 38: Table 39: Global consumer expenditure on jewelry and watches 20052010e Jewelry and watch expenditure by sub sector group 20052010e Jewelry and watch expenditure by market segment 20052010e Jewelry and watch expenditure by region 2005-2010e Y-o-y change % in global jewelry and watch spend by region 20052010e Jewelry expenditure by region 2005-2010e Watch expenditure by region 2005-2010e Key sports event/team sponsorship by watch brands 2010 Global consumer jewelry & watch expenditure 20052015 Jewelry & watch expenditure by region 20102015 Y-o-Y change % in jewelry & watch expenditure by region 20102015 Summary of global jewelry & watch expenditure by region 20102015 Y-o-Y change in jewelry & watch expenditure by sub sector 20102015 Jewelry & watch expenditure by market segment 20102015 Jewelry brands global market shares 2005-2010e Jewelry and watch brands key operating statistics years ending 2009/10 Jewelry and watch brands key operating statistics in US$ years ending 2009/10 Bulgari company overview 2010 Bulgari trading record 2005-2010e Bulgari trading record in US$ 2005-2010e Bulgari benchmarks, year to December 2008 and 2009 Bulgari stores 2005-2010e Damas International company overview 2010 Damas International trading record 2005-2010e Damas International trading record 2005-2010 in US$ Damas Interntaional benchmarks, year to March 2009e and 2010e Damas International stores 2005-2010e Damas International store locations Dec 2007 Gitanjali company overview 2010 Gitanjali Group trading record 2005-2010 Gitanjali Group trading record in US$ 2005-2010 Gitanjali Gems trading record 2005-2010 Gitanjali Gems trading record in US$ 2005-2010 Gitanjali benchmarks, year to March 2009 and 2010 Gitanjali benchmarks, year to March 2009 and 2010 LVMH Group company overview 2010 LVMH trading record 2005-2010e LVMH trading record in US$ 2005-2010 LVMH watches and jewelry trading record 2005-2010e

Datamonitor Report
Published: Oct 10 | Code: CM00026-001

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