Reportlinker Adds Global Jewelry Retailing: Market Size, Retailer Strategies and Competitor Performance

Dec 09, 2010, 14:08 ET from Reportlinker

NEW YORK, Dec. 9, 2010 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Global Jewelry Retailing: Market Size, Retailer Strategies and Competitor Performance

http://www.reportlinker.com/p0337909/Global-Jewelry-Retailing-Market-Size-Retailer-Strategies-and-Competitor-Performance.html

Introduction

After shrinking during the recession, the global jewelry and watch 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 ten leading jewelry retailers accounting for almost a quarter of global sales.

Features and benefits

Make informed regional investment decisions with data on expenditure per region for 2005-2010e and forecasts to 2015 with accompanying analysis.

Benchmark your company's performance by accessing profiles of ten 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.

Maximise the effectiveness of marketing investments by uncovering the strategies being used by the most prominent players in global jewelry retailing.

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.

Your 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 company's 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?

TABLE OF CONTENTS

Overview 1

Summary 1

Executive Summary 2

Main Conclusions 2

MARKET ANALYSIS 16

Rebound begins in 2010 16

Sub sector trends 18

Luxury vs mass market 21

Regional summary 22

Japan 25

Rest of Asia-Pacific 28

Americas 32

Europe 34

Middle East & Africa 37

OUTLOOK & FORECAST 40

Outlook – economic recovery presents new opportunities 40

Forecast – Asia-Pacific and luxury segment continue to drive demand 51

COMPANY COMPARISONS 59

Market shares 59

Key operating statistics 61

BULGARI 64

Diversified jewelry-based brand 64

Recent key events – 125th anniversary soured by cost cutting 67

Financials – sales slump and profits collapse followed by recovery in 2010 to date 69

Benchmarks – sales plunge further than rival European groups 71

Stores – more cautious opening program 71

Outlook – restructuring faces challenges 73

DAMAS INTERNATIONAL 74

Crisis halts rapid expansion 74

Recent key events – black hole in finances prompts restructuring 76

Financials – rapid sales growth set to unwind 77

Benchmarks – sales drop faster than at rivals 78

Stores – end to rapid expansion 79

Outlook – bright future if investor confidence restored 80

GITANJALI 82

Indian jeweler with global ambitions 82

Recent key events – ambitious investment plans 84

Financials – rides out downturn with robust domestic growth 85

Benchmarks – buoyant domestic market gives edge over peers 87

Stores – rapid retail expansion 87

Outlook – ambitious operator must show focus 88

LVMH 90

Luxury goods build jewelry and watches position 90

Recent key events – further investment in brands and new opportunities 93

Financials – watches & jewelry suffer more than other parts of LVMH 94

Benchmarks – margins weaker than European luxury rivals 97

Stores – expansion continues 97

Outlook – recovery uncertain short term 99

RICHEMONT 101

Emerging market strengths offer recession protection 101

Recent key events – board refreshed to oversee recovery 103

Financials – expansion in emerging markets limits damage from financial crisis 105

Benchmarks – strong margins continue 108

Stores – new stores target emerging markets 108

Outlook – survives recession in good shape 109

SIGNET GROUP 112

Emerges stronger following US market shakeout 112

Recent key events – corporate focus moves to US 114

Financials – margin recovers from 2008/09 sales slump 115

Benchmarks – job cuts lift sales per employee 119

Stores – estate rationalized to reduce costs 119

Outlook – growth potential in US and beyond 123

SWATCH GROUP 125

World's largest watchmaker 125

Recent key events – investments continue 128

Financials – outperformance during recession 130

Benchmarks – margins the envy of the sector 132

Stores – mono and multibrand expansion 132

Outlook – exits recession in strengthened position 135

TIFFANY & CO 137

Distinctive global jeweler 137

Recent key events – investment through downturn 139

Financials – resilience through recession 140

Benchmarks – impressive employee productivity 142

Stores – much potential for further expansion 142

Outlook – well placed for recovery 143

TSUTSUMI 145

Survives in shrinking market 145

Recent key events – improves performance 147

Financials – forecasts recovery in 2010/11 147

Benchmarks – margins compare favorably with global rivals 148

Stores – new openings increase scale 148

Outlook – bolder approach needed to fulfill potential 148

ZALE CORPORATION 150

Struggles to ensure survival 150

Recent key events – financial woes dominate 152

Financials – collapse in sales plunges group to loss 153

Benchmarks – performance far inferior to Signet 154

Stores – occupancy costs reduced through closure program 154

Outlook – many challenges ahead 156

GLOSSARY 157

Jewelry market definition 157

Financial statistics – VAT 157

Abbreviations 157

Smaller jewelry and watches retailers, wholesalers, designers 159

Ask the analyst 161

Verdict consulting 161

Disclaimer 161

TABLE OF FIGURES

Figure 1: Jewelry and watch expenditure growth by sub sector group 2005-2010e 18

Figure 2: Jewelry and watch expenditure by market segment 2005-2010e 21

Figure 3: Global jewelry and watch expenditure per region, % share 2005 and 2010e 22

Figure 4: Japan jewelry & watch retail spend and growth 2005–2010e 25

Figure 5: Japan's contribution to sales mix for leading global retailers 2009/10 26

Figure 6: Rest of Asia Pacific jewelry & watch retail spend and growth 2005–2010e 28

Figure 7: Americas jewelry & watch retail spend and growth 2005–2010e 32

Figure 8: Europe jewelry & watch retail spend and growth 2005–2010e 34

Figure 9: Middle East and Africa jewelry & watch retail spend and growth 2005–2010e 37

Figure 10: Mall of the Emirates 2010 39

Figure 11: Key issues in the jewelry and watch market 2010 40

Figure 12: Manufacturer motivations for expanding into retailing 2010 41

Figure 13: Jeweler responses to rising commodity prices 2010 44

Figure 14: Jewelry and watch brand building strategies 2010 45

Figure 15: Artist's impression of Louis Vuitton Foundation for Creation 2010 47

Figure 16: Y-o-Y growth by region % 2010–2015 53

Figure 17: Global jewelry & watch expenditure % share per region 2010 and 2015 54

Figure 18: Luxury and mass market shares of jewelry and watch market 2010–2015 57

Figure 19: Luxury and mass market growth rates 2005–2010 and 2010–2015 58

Figure 20: Operating margins of jewelry and watch brands 2009/10 62

Figure 21: Bulgari watches & jewelry regional sales split 2010 66

Figure 22: Bulgari product mix 2004-09 67

Figure 23: Interior of Bulgari flagship store, San Francisco 2010 72

Figure 24: Damas International sales mix 2005 and 2008/09 75

Figure 25: LVMH watches & jewelry regional sales split 2009 91

Figure 26: Interior of TAGHeuer store London Westfield 2010 98

Figure 27: LVMH retail stores by division December 2009 99

Figure 28: Richemont brands regional sales split 2009/10 102

Figure 29: Swatch Group brands net sales split 2009/10 126

Figure 30: Swatch Group brand positioning 2010 127

Figure 31: Omega store, Resort, Singapore 2010 133

Figure 32: Hour Passion store, Geneva International Airport store 2010 133

Figure 33: Tourbillon store, Kitzbuhel 2010 134

Figure 34: Tiffany regional sales split 2009/10 138

TABLE OF TABLES

Table 1: Global consumer expenditure on jewelry and watches 2005-2010e 16

Table 2: Jewelry and watch expenditure by sub sector group 2005-2010e 18

Table 3: Jewelry and watch expenditure by market segment 2005-2010e 22

Table 4: Jewelry and watch expenditure by region 2005-2010e 23

Table 5: Y-o-y change % in global jewelry and watch spend by region 2005–2010e 23

Table 6: Jewelry expenditure by region 2005-2010e 24

Table 7: Watch expenditure by region 2005-2010e 24

Table 8: Key sports event/team sponsorship by watch brands 2010 46

Table 9: Global consumer jewelry & watch expenditure 2005–2015 51

Table 10: Jewelry & watch expenditure by region 2010–2015 52

Table 11: Y-o-Y change % in jewelry & watch expenditure by region 2010–2015 52

Table 12: Summary of global jewelry & watch expenditure by region 2010–2015 55

Table 13: Y-o-Y change in jewelry & watch expenditure by sub sector 2010–2015 55

Table 14: Jewelry & watch expenditure by market segment 2010–2015 56

Table 15: Jewelry brands global market shares 2005-2010e 59

Table 16: Jewelry and watch brands key operating statistics years ending 2009/10 61

Table 17: Jewelry and watch brands key operating statistics in US$ years ending 2009/10 61

Table 18: Bulgari company overview 2010 64

Table 19: Bulgari trading record 2005-2010e 69

Table 20: Bulgari trading record in US$ 2005-2010e 69

Table 21: Bulgari benchmarks, year to December 2008 and 2009 71

Table 22: Bulgari stores 2005-2010e 71

Table 23: Damas International company overview 2010 74

Table 24: Damas International trading record 2005-2010e 77

Table 25: Damas International trading record 2005-2010 in US$ 77

Table 26: Damas International benchmarks, year to March 2009e and 2010e 78

Table 27: Damas International stores 2005-2010e 79

Table 28: Damas International store locations Dec 2007 80

Table 29: Gitanjali company overview 2010 82

Table 30: Gitanjali Group trading record 2005-2010 85

Table 31: Gitanjali Group trading record in US$ 2005-2010 85

Table 32: Gitanjali Gems trading record 2005-2010 86

Table 33: Gitanjali Gems trading record in US$ 2005-2010 86

Table 34: Gitanjali benchmarks, year to March 2009 and 2010 87

Table 35: Gitanjali benchmarks, year to March 2009 and 2010 88

Table 36: LVMH Group company overview 2010 90

Table 37: LVMH trading record 2005-2010e 94

Table 38: LVMH trading record in US$ 2005-2010 94

Table 39: LVMH watches and jewelry trading record 2005-2010e 95

Table 40: LVMH watches and jewelry trading record in US$ 2005-2010e 95

Table 41: LVMH benchmarks, year to March 2009 and 2010 97

Table 42: LVMH retail stores 2005-2010e 99

Table 43: Richemont company overview 2010 101

Table 44: Richemont trading record 2005-2010 105

Table 45: Richemont trading record in US$ 2005-2010 105

Table 46: Richemont jewelry and watch maisons trading record 2005-10 106

Table 47: Richemont benchmarks, year to March 2009 & 2010 108

Table 48: Richemont brands number of retail stores 2005-2010 108

Table 49: Richemont stores, March 2009 & 2010 109

Table 50: Signet Group company overview 2010 112

Table 51: Signet Group trading record 2005-2010 115

Table 52: Signet divisional trading 2005-2010 116

Table 53: Signet Group benchmarks, years to January 2009 and 2010 119

Table 54: Signet Group retail stores 2005-2010e 119

Table 55: Signet US stores 2008-2010 121

Table 56: Signet UK stores 2008-2010 122

Table 57: Swatch Group company overview 2010 125

Table 58: Swatch Group trading record 2005-2010e 130

Table 59: Swatch Group trading record in US$ 2005-2010e 130

Table 60: Swatch Group watches & jewelry trading record 2005-2010e 131

Table 61: Swatch Group watches & jewelry trading record in US$ 2005-2010e 131

Table 62: Swatch Group benchmarks, year to March 2009 & 2010 132

Table 63: Tiffany & Co company overview 2010 137

Table 64: Tiffany & Co trading record 2005-2010 140

Table 65: Tiffany benchmarks, years to January 2009 and 2010 142

Table 66: Tiffany store portfolio 2005-2010e 143

Table 67: Tsutsumi company overview 2010 145

Table 68: Tsutsumi trading record 2005-2010 147

Table 69: Tsutsumi trading record in US$ 2005-2010 147

Table 70: Tsutsumi benchmarks, year to March 2009 & 2010 148

Table 71: Zale Corporation company overview 2010 150

Table 72: Zale Corporation trading record 2005-2010e 153

Table 73: Zale Corporation benchmarks, years to July 2008 and 2009 154

Table 74: Zale Corporation store portfolio 2005-2010 154

Table 75: Zale Corporation store formats 2007-2009 155

Table 76: Smaller jewelry and watches retailers, wholesalers and designers 159

To order this report:

Retail Industry: Global Jewelry Retailing: Market Size, Retailer Strategies and Competitor Performance

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