LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global gems and jewelry market 2017-2021 report. This market research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global gems and jewelry market is highly fragmented with the presence of numerous players who compete to gain a share in the market. The global jewelry market consists of both organized and unorganized players. However, the unorganized sector dominates the market, which makes this market intensely competitive.
According to Tamal Saha, a lead analyst at Technavio for retail goods and services research, “Competitors adopt different strategies to attract new customers as many countries have a highly fragmented gems and jewelry markets. The rise in urbanization and changing preferences of customers compel different jewelry brands to effectively market their products and expand their product line through innovations in design.”
Many companies run different advertising campaigns according to the seasonal occasions and offer different schemes or benefits on the purchase of jewelry. Leading players invest in advertising campaigns that highlight certain occasions, for instance, in India, jewelry brands mostly advertise on seasonal occasions like diwali, dhanteras, and weddings.
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Technavio market research analysts identify the following key vendors:
Chow Tai Fook Jewellery
Chow Tai Fook Jewellery manufactures, markets, and sells jewelry. The company has a strong retail network, which comprises over 2,300 Chow Tai Fook stores in more than 500 cities in Greater China, Singapore, Malaysia, South Korea, and the US. The company introduced Smart+ initiatives, which highlight the focus of the company to enhance the shopping experience of customers. The use of digital marketing to communicate with customers through the mobile app of the company is a new initiative taken by the company.
LVMH is a luxury goods company. It has different businesses such as wines & spirits, fashion & leather goods, watches &jewelry, and perfumes &costumes. The watches & jewelry business segment of the company includes watchmaking, jewelry, and fine jewelry. The watch brands of the company include TAG Heuer, Zenith, Hublot, and Diorare. The jewelry and fine jewelry brands of the company are Bvlgari, Chaumet, Fred and De Beers.
Rajesh Exports is an Indian company, which manufactures, markets, sells, and distributes gold and diamond jewelry, primarily across India. The company offers a wide range of gold and diamond jewelry throughout the world. It provides retail jewelry through stores under the brand called SHUBH, which offers real rate per gram. The company has initiated many plans to increase its presence in the global market through acquisitions and contracts.
Richemont designs, manufactures, and distributes jewelry, writing instruments, watches, precision timepieces, and leather goods. Some of its brands include Cartier, Van Cleef & Arpels, Giampiero Bodino, Piaget, and A. Lange & Söhne. Richemont's jewelry brand, Giampiero Bodino initiated its presence in the digital world in May 2015. The new website and the Instagram account was launched by the name of @GiampieroBodino.
Signet Jewelers is one of the leading jewelry retailers that offer a variety of jewelry and watches in the US, UK, and Canada. The company also markets its products through various e-commerce websites, including www.zales.com, www.kay.com, www.jared.com, www.ernestjones.co.uk, www.hsamuel.co.uk, www.peoplesjewellers.com, www.pagoda.com, and www.sterlingjewelers.com.
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