Who and why buy jewelry?

Despite the war, gold and, in particular, diamond products retain their investment attractiveness and even received a new category of buyers. Who and what keeps the jewelry market afloat, Igor Ilchishen, the founder of the Kimberly jewelry house, told the EP. "Minfin" chose the main thing.

During the first months of the war, business seemed to freeze, and even more so jewelry sales. Everyone thought about how to secure themselves, and then about relocation. By the way, the jewelry business is very difficult to move to another part of the country or, moreover, abroad.

Our masters are worth their weight in gold, and even more. Everyone can not move to a new place, and finding new staff of the right profile in the short term is not only difficult but simply impossible.

The value of diamonds as an investment

Most of our old clients have moved abroad and we have lost a significant part of our audience. But for some positions in the jewelry business, demand has even increased - gold is also bought for investment. Gold jewelry is a long-term investment with little risk.

In Ukraine, the opportunity for investments is now limited, many investment instruments have become inaccessible, for example, securities, except for government ones, of course. Yes, and real estate investments are treated with caution.

Remained deposits and government bonds. But diamonds always have their investment attractiveness - this is an expensive asset, which, relatively speaking, takes up little space in your pocket. As an investment, they do not bring large returns, but they correlate with inflation and grow steadily in value.

Who and what kind of jewelry buys even in war

For three or four months of the war, we felt that the market was on pause. But, fortunately, since May-June last year, the resumption of work of both jewelry stores and production began.

A year later, in dollar terms, the demand for diamond jewelry fell by 50%, in hryvnia - by about a quarter. The good news is that Ukrainians continue to buy jewelry even during the war.

Patriotic marketing contributes to the restoration of demand. Even in the dark, a person wants to please himself and buys clothes with patriotic symbols, including jewelry. This is what helps fuel inner resilience.

For example, we released a patriotic collection with yellow and blue sapphires. Yes, and many manufacturers now have designs in the colors of our flag. This is in demand.

As for the mass segment, here the jewelry business has even received a new target buyer - these are military personnel, especially in the frontline zones. Our protectors often buy jewelry to support, to please their beloved, mother, or sister.

Despite the war, the jewelry market, in particular the diamond market, keeps afloat. Competent marketing, attraction of new categories of buyers gives reason for optimism in the future.