Transformation of the jewelry market
It’s been a while since jewelry companies last experienced business as usual. On May 24th, Bloomberg reported that Tiffany & Co. shares declined 9.7 percent, the most in more than two years in trading. Shares of Key, Zales and Jared chains owner, Signet Jewelers Ltd. fell 9.1 percent. De Beers’ rough diamond sales went down 18 percent year-over-year. Richemont’s jewelry sales decreased 16 percent.
Jewelry industry owes this state of affairs to macro-economic forces like the corruption crackdown in China and global geopolitical and economic uncertainty. But these forces can also easily be seen as the mere catalysts for the broader undoing of the jewelry business as we know it.
Read full article on medium.com.