NEW YORK , Aug. 26, 2024 /PRNewswire/ -- The global rings market size is estimated to grow by USD 45.2 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of almost 8.53% during the forecast period. Increasing demand for wedding rings is driving market growth, with a trend towards growing focus of vendors on brand endorsement.
However, availability of counterfeit rings in market poses a challenge. Key market players include Brilliant Earth LLC, Charles and Colvard Ltd., Chow Tai Fook Jewellery Group Limited, Compagnie Financiere Richemont SA, David Yurman Enterprises LLC, GIVA Jewellery, Malabar Gold and Diamonds, Pandora Jewelry LLC, PC Jeweller Ltd.
, ROBBINS BROS, Signet Jewelers Ltd., Swarovski AG, Tata Sons Pvt. Ltd.
, The LVMH group, The Swatch Group Ltd., and Tiffany and Co. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver Vendors in the rings market employ celebrity endorsements as an effective marketing strategy to captivate consumer interest and establish a favorable brand image.
This approach offers several advantages, such as increased brand recognition through association with familiar faces, enhanced customer trust in product quality, and extended reach through continuous advertisement exposure. Notable brands like Malabar Gold and Diamonds, Titan, and Pandora have utilized this strategy for decades. Recent endorsements include Tiffany's camp.