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How Jewelry Brands Find a Way Out Of The Supply Chain Crisis November 08, 2022 (0 comments)

New York, NY--Several jewelry-selling brands have been doing well, posting high profits and showing boosted revenue.

[Image via Pexabay]

For example, a report notes that LVMH's third-quarter revenue was up nearly $20 billion. Its watch and jewelry sector grew by 25% to $2.6 billion.

The market's been good enough for brands such as Cartier to eye expansion — open around ten more stores in the U.S. over the next year.

The report states that the jewelry industry overcame these pressures because of the customers it attracts. People who invest in high-priced jewelry are not too bothered by inflation. Also, expensive watches are an investment opportunity, with Rolex raising its price for the second time this year.

Other advantages help it address the global supply chain demand. “What’s unique in our category is that you often make your raw materials where you make your product,” said Amy Jain, CEO of the jewelry brand Baublebar, in the report. “It’s a lot more streamlined than fabric.”

The report explains that for Tiffany & Co.. most of the silver, gold, and platinum used is unearthed in the U.S. The company also makes around 60% of its products in the U.S. Shipping is an added advantage. 

“We can air [ship] everything,” Jain explained in the report. “Our product is so small and compact that we can fit a lot of it on a single air freight. There are also [many] ways we can speed up that process more affordably than other categories can.”

Check out the original report.