UK JEWELLERY MANUFACTURING REVENUE FORECAST TO SURPASS £1BN IN 2026 New research from 77 Diamonds has revealed that the size of the UK jewellery manufacturing industry is set to increase by 2.1 percent by the end of 2026, with total market revenue forecast to exceed £1 billion for the first time since 2023. 77 Diamonds has analysed historical data on the estimated annual revenue of the UK jewellery manufacturing industry, finding that in 2025 total revenue reached an estimated £992.7 million. This represents a marginal annual increase of 0.2 percent, following a period of contraction. While modest, this growth marks an important turning point for the industry, which has experienced annual declines in recent years. Market revenue fell by 5.4 percent in 2024 and 4.3 percent in 2023, reflecting broader economic pressures and reduced consumer spending. Looking ahead, 77 Diamonds’ forecast for 2026 suggests continued recovery, with revenue projected to rise by 2.1 percent to approximately £1.01 billion. The would represent a significant milestone, bringing the industry back above the £1 billion threshold for the first time in three years. Over the longer term, the data highlights a relatively steady but subdued growth trajectory for the sector, with an average annual increase of 0.7 percent over the past five years (2021-2025) and 1.2 percent over the past decade (20216-2025). Despite short-term volatility, the industry continues to demonstrate resilience. www.77diamonds.com THE NAJ ANNOUNCES NEW CHAIR AND NATIONAL COMMITTEE APPOINTMENTS AT 2026 AGM The National Association of Jewellers (NAJ) has announced the appointment of Mehdi Saadian as its new Chair, following the Association’s Annual General Meeting (AGM) held on the 11th June. Saadian succeeds Adam Jacobs, who steps down after a successful tenure marked by strong member engagement and continued support for the UK jewellery trade. Leadership transition In his outgoing address, Adam Jacobs reflected on the importance of unity across the trade and highlighted the NAJ’s ongoing commitment to supporting members through advocacy, education and practical guidance. He acknowledged the resilience of jewellery businesses across the supply chain and emphasised the value of collaboration in driving the industry forward. Taking up the role, Mehdi Saadian set out his vision for the Association, focusing on strengthening member value, fostering the next generation of jewellers, and ensuring the NAJ remains a trusted and progressive voice for the industry. He underlined the importance of adaptability, professionalism and maintaining high standards across all areas of the trade. Speaking of his appointment, Mehdi Saadian shared, “I would like to thank Adam Jacobs for his leadership, commitment and the clarity of direction he has given the NAJ, leaving the Association in a stronger position with firm foundations for the future. It is a genuine privilege to take on the role of Chair, and I do so with both gratitude and a strong sense of responsibility. I look forward to building on that momentum; strengthening our community, growing our membership, and ensuring a truly inclusive, member-focused approach to everything we do.” New National Committee members The AGM also confirmed the appointment of three new representatives to the NAJ National Committee: • Angela Evans from Siop iard, representing the newly formed designercraftsperson community group • Sammantha Maclachlan, representing the Institute of Registered Valuers • Rachel Morrish, representing Jewellers of Birmingham’s Jewellery Quarter These appointments strengthen the breadth of expertise and representation across the Committee, ensuring a diverse and balanced voice for the Association’s membership. Looking ahead With new leadership and strengthened representation on the National Committee, the NAJ remains focused on delivering meaningful support for its members and championing the interests of the UK jewellery industry. www.naj.co.uk INDUSTRY NEWS 5
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