High jewellery boosts desirability to outshine luxury sector

The article argues that high jewellery is outperforming the broader luxury sector, supported by strong equity markets, wealthy consumers, and record launches from brands such as Cartier, Van Cleef & Arpels, Buccellati, Chaumet, Piaget, Dior, Louis Vuitton and Tiffany. Analysts at HSBC say jewellery demand is benefiting from a wealth effect, especially in the US, where stock markets near record highs are boosting spending. The piece also highlights gold’s elevated price and the intrinsic value of gemstones as reinforcing jewellery’s appeal as a tangible store of wealth. High jewellery is increasingly seen as a safe-haven purchase, with customers prioritizing craftsmanship, rarity, and heritage over fashion-driven luxury. The article suggests the category will continue to grow and may further outshine soft luxury, though broader uncertainty could still weigh on consumer sentiment.