The surge in jewellery profferings across the luxury industry in recent years has been undeniable, especially at the houses that specialise in jewellery. More significantly, the luxury fashion giants are also interested in getting a slice of the glittering pie.
Picking up in 2023 — when the world was indulging in the unfettered excess of post-pandemic freedom — many big names successfully delved into the sector, with the most notable developments including Gucci’s link-up with Pomellato to debut their first-ever high jewellery collaboration, Monili, at the Gucci Cruise 2026 show.
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However, what is bolstering the sector’s resilience today isn’t the continuation of that unfettered excess. In the Bain-Altagamma Luxury Goods Worldwide Market Study — one of the most cited sources of market information in luxury — jewellery was identified as 2024’s most resilient personal luxury goods category amid a year of luxury that felt its first contraction in 15 years, excluding the pandemic. With the global recession creeping in, consumers began investing in more value-for-money purchases and making more considered decisions aimed at stretching every dollar.
One might expect the figures that come out of these reports would reflect how the marketing tactics of big industry players are affecting the behaviour of consumers. Surprisingly, the Bain report notes that the unbranded jewellery items are taking the lead, so looking at sales of these houses will not exactly give you the complete picture of why people are buying jewellery, especially at a time when Donald Trump’s tariff rollercoaster is making the current recession feel like a joke.
Courtesy of B.P. de Silva Jewellers
For Shanya Amarasuriya, fifth-generation jeweller and creative director of B.P. de Silva Jewellers (officially established in 1872 and is among Singapore’s first luxury labels), there has been a growing interest in considered craftsmanship when looking at the luxury industry as a whole. “There’s a deeper curiosity where people aren’t just looking for something beautiful, but something meaningful. I think the past few years, with all their uncertainty, have gently nudged many of us to re-evaluate what matters, and what endures.”
The concept of bespoke jewellery is not new, but it has only been in recent years that more people are exploring how far one can, when given the right jeweller, personalise the creative process. “Back then, there were jewellers who created ‘custom pieces’ inspired by jewellery from magazines and catalogues, but I wasn’t looking for a copy of an existing jewellery piece,” said ex-radio-DJ and MADLY Gems’ founder, Medalina “Maddy” Barber. “I wanted a designer who would chat with me, find out my style, talk about the milestone I wanted to commemorate with this piece and then design something that was uniquely ‘me’. Almost like an abstract, bejewelled self-portrait.”
Courtesy of State Property Fine Jewellery
It is not just looking within that matters, though, because a heightened awareness of what kind of jewellery clients want also comes from knowing what is possible. Their access to the designs that exist beyond borders and their imagination has made bespoke or custom jewellery that much more attractive today. “We used to get a lot more requests to mimic the design or style of jewellery from the big houses,” says Afzal Imram, co- founder of State Property Fine Jewellery. “But in the last four or five years, we were seeing much less of that, and an increase in truly unique and different commissions.”
“Perhaps it’s the market growing to understand that State Property is a design-led fine jewellery label and that our designs, and not just those from the big houses, are something to be appreciated and coveted too.” Combining his industrial design background with that of co-founder, Central Saint Martins-trained jeweller and wife Lin Ruiyin, State Property has, over the years, grown into a brand that has gained the admiration of individuals like Rihanna, Gigi Hadid and Lady Gaga. It proves that demand for unique, design- and craftsmanship-led jewellery is not just a local phenomenon, but a global one.
“Many of our clients are very well travelled and shop not just the big international brands, but also independent fine jewellers from various parts of the world,” he says. “I feel they’re searching for something special that speaks to them, and not just following the latest trends or ‘it’ pieces or designs.”
Courtesy of MADly Gems
In Singapore, this is most evident in the engagement and wedding ring market, which accounts for a significant portion of the fine jewellery scene because of our pragmatic, socio-cultural circumstances. Not only is it important because it is a direct reflection of what the young and affluent’s tastes are in fine jewellery, it reflects the truest nature of such desires. For some, it could be their first and only brush with fine jewellery; therefore, these rings could be a jewellery purchase of the highest consideration.
“With the rise of lab-grown diamonds, and a divergence from the notion that an engagement ring needs to ‘look like an engagement ring’, I do feel that the ‘traditional’ round solitaire has lost its lustre as the ‘go-to’ option,” observes Maddy. “Many young couples nowadays look to more unique rings to celebrate their love, whether it’s a more adventurous design, or one-of-a-kind coloured gemstones. For many, that makes their jewellery even more meaningful in the long run, as a lasting symbol of love, legacy and intention. It’s something beautifully personal, rare and precious that tells their unique story.”
Beyond betrothal, jewellery presents material value that is worth investing in. “Even outside of sentimental value, fine jewellery carries an intrinsic material worth that can hold value. So it becomes something that’s not just wearable, but collectable. And it doesn’t age out of a wardrobe. It can evolve with you, or be passed on to someone you love,” says Afzal.
Rachel Pang, founder of Rachel P Jewels, seconds this notion with proof that value can also be found in other forms apart from what is personal or material. “For some of our clients, ethical and sustainability values do play a part in going bespoke. More people are becoming thoughtful about where their pieces are made, and the story behind them.”
Courtesy of State Property Fine Jewellery
“We craft in small quantities and with intention, using responsibly sourced materials whenever possible. That’s also why heirloom pieces and old precious jewellery are often brought to us for a redesign, giving them a new lease of life while preserving their sentimental value,” she adds. “It’s such a beautiful way to stay sustainable, honour family memories, while creating something fresh for the next chapter.”
Of course, there are pros and cons to choosing bespoke. Being in Asia means jewellers here have greater access to a wide variety of gems, in different qualities and types. But the pace at which detail-oriented design operates can be challenging for some to deal with, especially if they enter a conversation without considering the time and effort that goes into true craftsmanship.
“When people are used to instant results, it can sometimes be hard to explain why nothing about bespoke can be rushed,” explains Pang. “On top of that, our pool of skilled local craftsmen is pretty small, unlike bigger countries with huge factories and production teams.”
“Bespoke pieces are naturally more expensive than mass- produced jewellery,” adds Susan Chan, director of One’s Treasure Jewellery. “Clients today are increasingly informed and view jewellery — especially high-quality, well-designed pieces — as both an investment and a form of timeless luxury. A good gem ‘grows’ on you. Jewellery, when thoughtfully set into a meaningful design, becomes a lasting expression of beauty, sentiment and value — one that can even appreciate over time.”
Courtesy of MADly Gems
Chan herself had only got a start in the industry after her husband gifted her an Argyle pink diamond ring for their anniversary. It led to some research about various gems, before she promptly fell in love with them. That in itself is an example of how a passion for the gems can come about without any fancy packaging or branding, and it can happen at any age — Chan manages the business with her daughter.
More men have also been walking into MADLY Gems to create pieces for themselves, observes Maddy. “At the beginning, they’d be accompanying their wives, or to surprise them with anniversary gifts and birthday presents. But today, men browse our gem collection looking for pieces for themselves too. Signet rings, worn on the pinky with a single gemstone, have been more and more popular, for both men and women.”
At a glance, what all this means is that the jewellery has and will continue to hold its own allure that will never heed to the flighty behaviour of the stereotypical, modern fashion consumer because of the innately emotional, personal space it holds in luxury.
Courtesy of B. P. de Silva Jewellers
“Our clients get to reconnect with states of being that modern life often doesn’t hold space for,” shares Shanya. “From the nostalgia and sentimentality that surfaces when they dig through their archive of memories as I gently ask what stories they’d like to safekeep within their design, to the thrill of viewing a curated collection of sapphires of different hues selected just for them, and the joy of being part of the act of creation — every moment is a discovery.”
“I personally believe this reflects something deeper. Beyond aesthetic or material value, this speaks to a human desire to connect more meaningfully, to slow down, to understand, and to truly enjoy the beauty around us.”
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