Jewelery Polish Style
Polish jewelry market is valued by experts at around 1.5 billion US dollars per year. Poles spend their money to buy jewelry which they regard not only as beautiful and valuable items or capital investment, but also as an investment in the contemporary art. More recently, the jewelry market has been undergoing significant changes which prove that jewelry showroom customers have considerable interest in purchasing costly luxury items.
Jewelry is sold both in specialty stores – private and corporate showrooms – and in gift shops, souvenir stores and on markets. Distributors and wholesalers are also active in the market. Gold jewelry is the bestseller in Poland. It is estimated that in 2011, gold jewelry constituted 60% of the market, with the silver jewelry in the second place. Poland is the third producer of silver in the world. It is also a major exporter of amber and a sole exporter of striped flint.
The Largest Players in the Market
The 2012 KPMG report "The Luxury Goods Market in Poland" shows that 751,000 people reached the gross monthly income of over EUR 1,700 in the country, which represents almost 23,000 more than in 2011 and roughly 90,000 more than in 2010. This recently observed upward trend is likely to continue, and in 2015 Poland may reach approximately 840,000 rich and affluent people whose total annual income will be close to EUR 40 billion. It is estimated that in Poland, approximately 10,000 businesses operate in the goldsmith and jewelry market, with as much as 90% of them functioning as small, family-run businesses employing fewer than nine people. About 95% of goldsmith and jewelry companies in Poland are located in cities and towns. Additionally, 50% of medium and large jewelry companies choose to operate in small towns. It is obvious that the reason for the concentration of jewelry stores (especially the small ones) in specific areas is their proximity to the goods markets.
Apart, YES and W. Kruk are the three largest companies operating on the Polish jewelry market. The Apart jewelry company has more than 183 showrooms in Poland. It employs more than 1,800 people and is an indisputable leader of jewelry sales in Poland. Besides the usual showrooms, the Apart Company also sells jewelry at Apart Exclusive – its most luxurious show rooms. There, customers can find jewelry containing diamonds and other p[...]
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