Cufflink sales, potential new revenue stream for brands, to reach $5B in 2024: report

November 27, 2023

Cufflinks are a growing category within men's accessories and jewelry. see here are a pair of Panthère de Cartier cufflinks in 18K yellow gold (750/1000), 2 tsavorite eyes, black lacquer nose and spots. Price $8,650. Image: Cartier

By Luxury Marketer Intelligence

The cufflinks market size is estimated to grow at a compound annual growth rate (CAGR) of 5.93 percent between 2022 and 2027.

The market size is forecast to increase by $1.514 billion, according to new research from Technavio. Worldwide sales of cufflinks next year are estimated to reach $5 billion, with 2023 revenue coming in at nearly $4.75 billion.

“The growth of the market depends on several factors such as the growth in online cufflink retailing and the number of experience centers globally, the high influence of celebrity endorsements on cufflink purchase decisions and the rise in demand for French cuff shirts,” the market researcher stated.

Market driver
One of the key factors driving the cufflinks market growth is the rise in demand for French cuff shirts, per Technavio research.

There is a growing popularity for French cufflinks among consumers as it is an essential component in European and American men's formalwear. The increasing demand for French cuff shirts among working professionals is significantly contributing to the market growth.

Moreover, the declining trend of wearing ties has fueled sales of dress shirts that require cufflinks, such as French cuff shirts.

As a result, it has significantly fueled the sales of French cuff shirts as well as cufflinks.

Market trends
A key factor shaping the cufflinks market growth is the popularity of cufflinks as a gift item.

The growing trend of gifting cufflinks as gift items for various events and occasions such as birthdays, anniversaries and weddings is significantly contributing to market growth. In addition, there is a growing popularity for personalized cufflinks such as those with photos of the bride and groom.

Moreover, several prominent market players such as Cartier, Louis Vuitton and Paul Smith have a dedicated section for cufflinks offered as gifts.

In addition, factors such as the versatility of cufflink designs and the endless personalization options have stoked their popularity as a gifting item.

The growing popularity of shirts with French cuffs and ecommerce transactions for jewelry and accessories bookends a drop in sales of men's ties. Cufflinks benefit from this trend as men still desire to accessorize and personalize their look. Seen here: Love Motif Cartier cufflinks, price $9,400. Image: Cartier

Market challenge
Rising labor costs and fluctuating raw material prices are some of the key challenges hindering the cufflinks market growth.

There are several prominent market players such as Prada, Giorgio Armani, Mulberry and Dolce&Gabbana that have established their factories in Asian countries such as China, Indonesia, Bangladesh and Vietnam due to low labor costs in these regions.

There is an increase in production costs in several non-Asian countries which is significantly impacting the profit margin of companies in this region.

Moreover, some of the key materials that are used in the manufacturing of cufflinks include brass, silver, copper, aluminum, textiles or leather, base metal alloys and metals plated with gold or silver.

There are significant fluctuations in prices of these raw materials, adding to the production cost and impacting the profit margin of manufacturers.

Major brands selling cufflinks
Almost all major luxury brands with lines for menswear have cufflinks as part of their offerings. Their ranks include Bulgari, Burberry, Cartier, Chanel, Christian Dior, Cufflinks LLC, David Yurman, Dolce&Gabbana, Georg Jensen, Giorgio Armani, Guccio Gucci, Hugo Boss, Mikimoto, Montblanc, Paul Smith, Prada, Ralph Lauren, Salvatore Ferragamo and Tiffany & Co.

Fastest-growing segments, regions
The premium cufflinks segment is seeing significant growth during the forecast period, per Technavio. This segment mainly includes products priced at $150 and up.

This segment is widely adopted for dress shirts and often comprises precious stones or is specially molded with exclusive metals such as platinum and gold. Gold-Rosace Decor cufflinks, Rosace Decor cufflinks and Octagonal cufflinks are some of the key product offerings in this segment.

The premium cufflinks segment is the largest segment within the category and valued at $2.59 billion in 2017.

Several market players in the cufflinks market are launching new product offerings.

For example, in June 2020, David Gotlieb launched 14 new diamond cufflinks.

Several other market players are also collaborating with cufflinks companies to offer cufflinks with their services.

The Asia-Pacific region is estimated to contribute 31 percent to the growth of the global market during the forecast period.

Another region offering significant growth opportunities to market players is Europe. Markets of growth within Europe include the United Kingdom, France and Germany.

One of the main factors that are significantly contributing to the global cufflinks market in Europe is the traditional adoption of cufflinks as part of formalwear.

Not surprisingly – and as is au courant with other luxury categories – consumers are opting for online to buy cufflinks.

“As a result, several specialty jewelry stores are introducing online platforms for their advertising campaigns and virtual stores,” Technavio said in its report.

“Furthermore, several social media platforms are leveraged by prominent companies for marketing campaigns. Hence, such factors are driving the market growth in Europe during the forecast period.

“In 2020, during the COVID-19 pandemic, the growth of the global cufflinks market witnessed a significant slowdown due to the halt in sales of non-essential items, especially cufflinks in Europe.

“However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of businesses and fashion outlets. Such factors are expected to drive the market during the forecast period.”

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Cufflink sales, potential new revenue stream for brands, to reach $5B in 2024: report

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