India To Surpass US In 2018 Jewelry Sales

- Sep 03, 2018-

Rapaport... india will overtake the us as the second one-biggest market for high-quality jewelry, in the back of china, via the end of 2018, in line with researchers at euromonitor global. 

Income of first-rate rings in the united states are expected to attain $sixty two.eight billion this 12 months, surpassing america, where customers will spend $58.6 billion, euromonitor representatives stated all through the global jewelry london (ijl) trade show taking place this week. 

“this studies suggests that the indian marketplace for excellent jewelry has grown fantastically over the past 5 years,” fotoulla michael, head of sales for ijl, said monday. “there has been news in recent months approximately extended appetite for platinum, diamonds and additionally coloured stones, alongside the greater traditional demand for gold jewelry. india’s growing domestic market will have a massive effect on global jewelry trade.” 

The indian rings marketplace has extended seventy four% over the past 5 years, studies showed, as opposed to 12% growth inside the us over the identical period. 

China, the most important market for exceptional rings, and japan, the fourth biggest, have also each visible will increase over the last 5 years. hong kong, which holds the 5th spot, has declined eight% to $7.2 billion. 

Ijl started on september 2 and could close on september 4.