Press Release - January 2026

• Retail sales of jewellery and watches maintained a positive trend in 2024-2025, supported by strong demand and rising prices, posting annual growth of around 6% in both years and provisional turnover of €2.135 billion in 2025.

• Specialised chains have continued to strengthen their dominant position in the market, now accounting for about 60% of total value, while independent retailers reduced their share to below 20%.

• INFORMA's DBK Sectoral Observatory recently published these insights in the 'Jewellery and Watches Retailing' Sectoral Report.

Madrid, 27 January 2026.- According to INFORMA's (Cesce's subsidiary) DBK Sectoral Observatory, a leading provider of business, financial, sectoral, and marketing information in Spain and Portugal, Spain's jewellery and watches retail market closed 2024 at €2.02 billion, up 6.3% from the previous year. This performance confirmed the positive trend that began in 2022, when turnover rose 16.7%, followed by growth of 8.6% in 2023.

The sector's dynamism has been enhanced by strong demand, rising private consumption, and the continuation of the upward trend in prices, which has boosted sales in value terms in recent years.

In 2025, activity continued to grow, with provisional year-end data showing market growth near 6%, reaching €2.135 billion.

By distribution channel, specialised chains consolidated their leadership, accounting for nearly 60% of the market in 2024, with estimated sales of €1.21 billion, up 6.6% on 2023. Independent retailers reduced their share to 19.1%, with €385 million, while department stores and other channels reached 21.0%.

By product segment, jewellery and costume jewellery accounted for 56% of sales, while watches represented 39%. The remaining products, mainly silverware and accessories, accounted for 5%.

The supply structure continued to be shaped by the gradual decline in the number of small independent retailers, only partly offset by growth in chain-affiliated stores. At the end of 2024, there were 8,700 specialised retail locations in Spain, a decline from the previous year. Alongside the physical store network, there was also a growing supply of specialist online retailers, as well as sales via department stores.

The scale reached by the leading operators resulted in a notable degree of concentration in the sector: the top five competitors held 43% of market share in 2024; the top ten, 57%.

Data Synthesis