Here is a diamond ring and there is a rare gem necklace, and even as the wider luxury shoppers retreat, the world's wealthiest people continue to decorate themselves with the best jewelry.

But there is no doubt that one mother-of-pearl bracelet should not be confused with another. With more and more choices in super rich, more and more best can be achieved.

This brings positive news to Swiss luxury goods group Richmontwhich includes some of the most popular brands in the luxury jewelry market, including Van Cleef & Arpels, Buccellati and Cartier.

Luca Solca, head of the global luxury industry at Bernstein, told CNBC’s “Squawk Box Europe” that “Richemont’s jewelry brand is indeed the most important thing consumers expect.”

"There is no debate. Although LVMH strives to challenge this leadership, I think other brands are clearly behind."

Richemont reported Friday that its jewelry Maisons division had grown 11% higher than expected fourth-quarter sales. Jewelry is also the group's strongest segment, up 8% throughout the year.

The results revolve around the result season, in which the LVHM arrive dry Burberry reported a slowdown in the quarter ended in March, which has brought hope to a shift in the embattled industry.

Sales in LVMH's watch and jewelry division, especially in the first quarter, were stable year-on-year, with higher demand for key brands such as Tiffany & Co, Bvlgari, Tag Heuer and Hublot in 2024, and organically dropped 2% in 2024.

"We are gaining market share in jewelry from branded and non-branded companies," Richemont chairman Johann Rupert said in a report call on Friday.

While the continued appeal of its jewelry brand remains appealing, Richemont is not entirely immune to the wider sector headwinds.

The performance of its professional watchmaker department, including Piaget and Roger Dubuis, paints a more nuanced picture. Richemont's watch sales fell 13% in 2024, mainly due to weakness in China. Due to the recovery power of the Americas, the decline rate in the second half of the year only slightly decreased in the second half of the year.

"Global observation markets have experienced the impact of a slowdown. This is due to weak demand in China, with the high-end price segments having greater resilience," the company said in its report.

The picture is further cast, and many other quality Swiss watchmakers, including Rolex, Patek Philippe and audemars Piguet, are privately owned, making their performance difficult to decipher.

But besides the macroeconomics, Bernstein’s Solca says the fundamental nature of the luxury watch market, which often positioned products as long-term, if not lifetime-long purchases, inevitably makes it rebound slowly.

"Everyone and their dog bought a careful purchase from 19 Covid-19, which will take a while to digest. So, I want the watch to be on the hind feet for a long time," he said.

“People buy jewelry more often, and jewelry has also become cheaper than last year’s handbags, so there is better motivation in the category.”

The growth of the high-end jewelry market with other high-end fashion staples such as fashion and leather products may be synonymous with good stability amid global trade headwinds.

Richemont's Rupert said Friday that the company would not show price increases as unsustainable prices, contrary to the price increases for other luxury and jewelry players.

"The business is increasingly dependent on its jewelry division and hopes that the strength of its brands in the region will sustain it," Russ Mold, investment director at AJ Bell, said in a note Friday.

However, analysts warn that the company may still face challenges that threaten market dominance.

"Richemont continues to face several major headwinds, including the strength of the Swiss franc against the dollar, higher gold prices and the impact of tariffs," Mold added.