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Sales of wedding rings increased by 85% in the summer of 2021, engagement rings by 40% compared to 2020

TEILOR, the chain of luxurious jewellery shops current in the complete CEE area, stories in Romania in the summertime between 1st 2021 in comparison with the identical interval of the earlier yr. Along with the rise in items offered, Romanian prospects at the moment are investing extra in items as the common spend per wedding ceremony ring offered by TEILOR elevated by 95% in 2021, whereas spending on engagement rings in comparison with. rose by 70% final summer season.

“After a troublesome 2020, we will say that in 2021 we skilled a“ Summer season of Love ”. Demand for each wedding ceremony rings and engagement rings has elevated by double digits because the {couples} had been decided to get their wedding ceremony plans carried out as a result of easing of restrictions. As TEILOR, we supported the “Summer season of Love” and the return to normality by providing our prospects a free diamond on their wedding ceremony ring, thus additional growing our gross sales between June and September 2021. We see prospects growing their budgets for each engagement rings and wedding ceremony rings this yr, and we count on this development to proceed within the years to come back because the younger {couples} want to put money into distinctive but timeless items, ”says Anda Jurca, Group Gross sales Director at TEILOR.

In 2021 Romanians spend a median of 160% of the median wage on an engagement ring, nearly double in comparison with a median of 90% of the median wage in 2020. When shopping for an engagement ring, round 75% of males select the engagement ring themselves, the share is within the declined lately because the development will increase for {couples} to decide on the ring collectively. As well as, increasingly more girls are choosing the engagement ring themselves, with the companion making the acquisition and solely stunning him in the mean time of the wedding proposal. In 2021, the largest development in engagement rings was the flowery minimize diamond ring, i.e. a hoop with a diamond aside from the spherical sensible minimize. The most well-liked mannequin in Romania stays solitaire and princess minimize, however there’s a rising demand for emerald and oval minimize diamond rings.

TEILOR additionally famous a rise in spending on wedding ceremony rings, which rose from 80% of median wage in 2020 to 88% in 2021. When it comes to wedding ceremony rings, these are chosen collectively, however the determination on the type of the marriage rings is often made by girls. In terms of traits, youthful prospects not select matching units for wedding ceremony rings, as an alternative girls want eternity diamond bands, whereas males select the band that finest represents their type and character. An increasing number of prospects are leaving the basic wedding ceremony rings and choosing a easy design with a mix of white and rose gold.

With regard to different main traits within the Romanian jewellery market, TEILOR famous a rise in repeat purchases. 5 years in the past, prospects purchased jewellery a median of 1.2 instances a yr; in 2021, the common can be 3.5 purchases a yr. The demand for high-quality jewellery can be growing, because the number of collections in addition to the standard of the jewellery imply that prospects at the moment are extra inclined than earlier than to buy in Romania relatively than overseas, which means that Romania belongs to the class of a mature market within the jewellery phase.

TEILOR is the most important jewellery chain in Romania with 55 stationary shops, six of that are TEILOR Unique, and provides its prospects a restricted sequence of handcrafted and punctiliously chosen jewellery with diamonds and valuable stones. By the top of 2021, the TEILOR community will comprise 61 branches, 53 of that are in Romania, 4 in Poland, three in Bulgaria and one in Hungary. The corporate is aiming for gross sales of 230 million lei in 2021, a rise of 64% in comparison with gross sales of 140.4 million lei in 2020.

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The overall worth of investments within the enlargement of the TEILOR community is 30 million lei earlier than the yr. Along with investing in brick-and-mortar retail, the corporate is contemplating additional investments to additional develop its on-line platforms to enhance the omnichannel expertise for purchasers. TEILOR presently operates 5 e-commerce platforms – teilor.com, teilor.ro, teilor.hu, teilor.bg and teilor.pl.

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