Latest news with #GenZ.
Business Standard
2 hours ago
- Business
- Business Standard
Universal Sompo Extends Insurance Coverage to Pets
NewsVoir Mumbai (Maharashtra) [India], June 28: Universal Sompo experiences a high demand for Pet Assure, a comprehensive and customisable pet insurance product tailored to meet the evolving needs of India's growing community of pet parents. Urban India is witnessing a dramatic shift in pet ownership trends, driven largely by Millennials and Gen Z. Now pets are no longer just companions but cherished as family members. This cultural transformation has fuelled rising demand for structured, preventive, and tech-enabled pet care solutions, particularly in Tier 1 cities, and increasingly across Tier 2 and Tier 3 regions. Pet Assure has been designed to support this growing responsibility by offering extensive coverage for pet dogs and cats aged between 3 months and 10 years. The policy includes protection for routine outpatient consultations, diagnostics, surgeries, critical illnesses, accidental injuries, and third-party liabilities. Optional benefits further extend to coverage for terminal diseases, pregnancy-related complications, dental care, post-treatment recovery, theft or loss, emergency pet minding, and even cremation expenses. Customers can choose from flexible sum insured options ranging from Rs. 10,000 to Rs. 2,00,000, with policy tenures of one to three years. Premiums start at an affordable Rs. 1499 per annum, making pet insurance accessible to a broad range of pet parents across the country. "Pets today are cherished family members and deserve the same level of healthcare and financial protection. With Pet Assure, we've built one of the most inclusive and customisable pet insurance offerings in the market," said the Pet Parents Fraternity at Universal Sompo. "This is a step toward not only meeting a growing market demand but also fulfilling our commitment to holistic customer well-being." Real-life testimonials already speak to its value. Mr. Jagrit Joshi, a pet parent working as a Digital Activations Lead, shared, "As veterinary costs and pet ownership in Indian cities surge, pet insurance is transitioning from luxury to a necessity. My pet dog, Coco, was unwell and advised diagnostic tests. Ultrasound findings revealed crystal formation and a cyst in the prostate, for which he underwent surgery. The Pet Parent Fraternity at Universal Sompo stood in strong support throughout and ensured timely settlement of all claims expenses." As pet tele-health services gain popularity and veterinary care grows more advanced, Universal Sompo's commitment and pet insurance offering is a timely and responsible initiative. More than just a financial safeguard, Pet Assure is a step toward redefining pet care in India, ensuring pet parents have peace of mind and their furry family members receive the care they deserve.
Yahoo
19 hours ago
- Business
- Yahoo
United States Jewelry Market Report 2025-2030: Millennials and Gen Z Drive Jewelry Demand with Eco-Conscious Choices
The U.S. Jewelry Market, valued at USD 78.40 billion in 2024, is projected to reach USD 97.62 billion by 2030, growing at a CAGR of 3.72%. The ring segment leads, capturing over 43% of market share, while diamond shows the fastest growth. Unbranded and offline segments dominate, and the market sees significant interest from millennials and Gen Z. Key growth drivers include the rising popularity of wedding jewelry and lab-grown diamonds. Major players like Tiffany & Co. and Pandora lead ongoing trends in personalization. Ethical sourcing and custom designs are reshaping consumer preferences. U.S. Jewelry Market Dublin, June 27, 2025 (GLOBE NEWSWIRE) -- The "U.S. Jewelry Market - Focused Insights 2025-2030" report has been added to U.S. Jewelry Market was valued at USD 78.40 billion in 2024, and is projected to reach USD 97.62 billion by 2030, rising at a CAGR of 3.72%. The U.S. jewelry market is set to grow due to growth in wedding and engagement jewelry and a rise in demand from millennial and Gen Z TAKEAWAYS By Product Type: In 2024, the ring segment held the largest market share of over 43%. By Material Type: The diamond segment shows the highest growth, with a CAGR of 3.97% during the forecast period. By Category: The unbranded segment accounted for the largest market share. By Distribution Channel: The offline segment leads the U.S. jewelry market, with the largest share in 2024. By Age Group: The 25-44 segment shows significant growth, with the fastest-growing CAGR during the forecast period. By Gender: The female segment dominates and holds the largest share of the U.S. jewelry market. RECENT VENDOR ACTIVITIES On May 19, 2024, luxury jeweler Harry Winston made headlines as a 29.29-carat diamond ring from the brand was listed for auction at Bonhams New York. Expected to fetch up to $1.9 billion at the June 6 auction, the D-color, VVS2-clarity, type IIa marquise-cut ring exemplifies Harry Winston's legacy in crafting rare, valuable, and historic gemstones. The event highlighted not only the brand's timeless appeal but also the vibrancy of the U.S. high jewelry auction scene, where collectors seek heritage and prestige. On May 3, 2025, Pandora launched a special-edition heart-shaped silver charm in collaboration with UNICEF, featuring a blue center stone representing the organization's signature color. This initiative reflects Pandora's continued commitment to social responsibility and has contributed to raising nearly $14 million over the past five years to support global youth education, particularly for girls, reinforcing the brand's impact-driven engagement in the U.S. and global jewelry markets. US JEWELRY MARKET TRENDS & DRIVERS Personalization and CustomizationPersonalization and customization are among the most prominent trends in the US jewelry market. This trend is particularly popular among younger consumers, including those in the 25-44 age group, who prioritize unique and meaningful purchases over mass-produced items. Brands are responding by offering a wide range of customization options, such as engraving names, initials, significant dates, or personalized messages on rings, necklaces, bracelets, and even watches. Custom-made designs, where customers can collaborate with jewelers to create one-of-a-kind pieces, have gained significant traction, particularly in the fine jewelry and bridal segments. Companies like Tiffany & Co. and Pandora have implemented successful personalization strategies, offering customizable charms, birthstone jewelry, and engraved wedding bands. Moreover, the ability to modify or combine existing collections (e.g., stacking rings, interchangeable pendants, or modular bracelets) allows customers to craft jewelry that resonates with their individual preferences. As this trend grows, technology has also played a role, with several brands using 3D design tools that enable customers to visualize and personalize jewelry designs Popularity of Lab-Grown DiamondsLab-grown diamonds, or synthetic diamonds, have seen a significant rise in popularity within the US jewelry market, driven by both ethical considerations and cost-effectiveness. These diamonds are chemically, physically, and optically identical to natural diamonds but are produced in a controlled environment in laboratories, making them more affordable and sustainable. For environmentally conscious consumers, lab-grown diamonds offer an attractive alternative to mined diamonds, which have been associated with negative environmental impacts and human rights concerns, such as exploitation in some mining regions. The growing awareness about these issues has led to a surge in demand for ethically sourced alternatives. Lab-grown diamonds are also gaining traction among younger consumers who prioritize sustainability, with many opting for them as part of a broader trend toward eco-conscious consumption. The affordability of lab-grown diamonds makes them appealing for engagement rings and fine jewelry without sacrificing quality or appearance. Brands such as Brilliant Earth, James Allen, and Clean Origin have capitalized on this trend, offering a wide range of lab-grown diamond jewelry. As technology advances, the cost of lab-grown diamonds continues to decrease, making them an increasingly viable option for mainstream in Demand from Millennial and Gen Z ConsumersMillennials and Gen Z have significantly increased their share of jewelry consumption, driven by shifts in lifestyle, technology, and evolving values. These generations are reshaping the way jewelry is purchased, worn, and perceived, leading to new market opportunities and growth across various jewelry segments. For example, Millennials and Gen Z are more likely to purchase jewelry online, as they value the convenience of e-commerce, access to a wider range of styles, and the ability to compare prices quickly. This has led to the rise of online-only jewelry brands and platforms that cater to their preferences. Moreover, these younger generations are not as loyal to traditional jewelry brands but are more inclined to explore independent designers and boutique labels. Jewelry that aligns with their values - such as sustainability, diversity, and inclusivity - has become increasingly appealing. For instance, companies like Brilliant Earth, which emphasize conflict-free diamonds and ethical sourcing, resonate strongly with Millennial and Gen Z buyers who are more socially conscious and environmentally aware. The demand for "affordable luxury" and fashion-forward jewelry is rising among these younger consumers. This shift is pushing traditional luxury brands to adapt their offerings to be more affordable and inclusive, thus expanding their appeal to a wider RESTRAINTS Fluctuating Raw Material PricesThe prices of raw materials used in jewelry production, such as gold, silver, diamonds, and platinum, are subject to volatility due to a variety of factors, including global supply-demand imbalances, geopolitical tensions, and natural disasters. Fluctuating prices can significantly affect the profitability of jewelry manufacturers, as these materials account for a large portion of production costs. Gold, for example, is a highly traded commodity, and its price is influenced by a range of external factors, including inflation rates, currency fluctuations, and market speculation. When gold prices rise sharply, it can lead to increased costs for consumers and create pricing pressure for jewelry brands. For manufacturers, high raw material costs may mean they need to raise prices or reduce profit margins to remain competitive, which can affect overall LANDSCAPEThe U.S. jewellery market report consists of exclusive data on 26 vendors. Tiffany & Co., Signet Jewelers, Harry Winston, CHANEL, and Cartier represent a diverse competitive landscape, each catering to distinct segments within the luxury and high-end jewelry industry. Tiffany & Co. is renowned for its iconic blue box and emphasis on accessible luxury, blending timeless designs with modern sensibilities. Signet Jewelers, the largest specialty jewelry retailer, dominates through a wide array of brands, including Kay Jewelers and Zales, offering both mass-market and higher-end Winston is synonymous with rare, high-quality diamonds, serving an ultra-luxury niche with its exclusive and bespoke offerings. CHANEL, with its fashion-forward approach, combines jewelry with its broader brand presence, focusing on a sophisticated and exclusive clientele. Cartier, a prestigious name in haute joaillerie, continues to lead with its heritage of craftsmanship, luxury, and iconic designs, appealing to the elite. While these brands have different positioning and target audiences, they all maintain their dominance in the US jewelry market through distinct value propositions rooted in quality, craftsmanship, and brand Vendors LVMH Signet Jewelers Harry Winston Richemont Pandora Other Prominent Vendors VRAI Aether Diamonds Brilliant Earth HStern Swarovski Chopard The Clear Cut Graff Boucheron Gorjana & Griffin Mikimoto CHANEL Alex and Ani Charles & Colvard Camille Jewelry Mejuri Astrid & Miyu David Yurman Le Vian TACORI Simon G. Jewelry Key Attributes: Report Attribute Details No. of Pages 99 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $78.4 Billion Forecasted Market Value (USD) by 2030 $97.62 Billion Compound Annual Growth Rate 3.7% Regions Covered United States SEGMENTATION & FORECASTS By Product Type Rings Necklaces, Pendants, Chains Earrings Bracelets Others By Material Type Diamond Gold Platinum Others By Category Unbranded Branded By Distribution Channel Offline Online By Age Group Below 25 25-44 45 & Above By Gender Female Male For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment U.S. Jewelry Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Fashion Value Chain
19 hours ago
- Business
- Fashion Value Chain
Universal Sompo Extends Insurance Coverage to Pets
Universal Sompo experiences a high demand for Pet Assure, a comprehensive and customisable pet insurance product tailored to meet the evolving needs of India's growing community of pet parents. Universal Sompo Launches Personalized Pet Insurance Urban India is witnessing a dramatic shift in pet ownership trends, driven largely by Millennials and Gen Z. Now pets are no longer just companions but cherished as family members. This cultural transformation has fuelled rising demand for structured, preventive, and tech-enabled pet care solutions, particularly in Tier 1 cities, and increasingly across Tier 2 and Tier 3 regions. Pet Assure has been designed to support this growing responsibility by offering extensive coverage for pet dogs and cats aged between 3 months and 10 years. The policy includes protection for routine outpatient consultations, diagnostics, surgeries, critical illnesses, accidental injuries, and third-party liabilities. Optional benefits further extend to coverage for terminal diseases, pregnancy-related complications, dental care, post-treatment recovery, theft or loss, emergency pet minding, and even cremation expenses. Customers can choose from flexible sum insured options ranging from Rs. 10,000 to Rs. 2,00,000, with policy tenures of one to three years. Premiums start at an affordable Rs. 1499 per annum, making pet insurance accessible to a broad range of pet parents across the country. 'Pets today are cherished family members and deserve the same level of healthcare and financial protection. With Pet Assure, we've built one of the most inclusive and customisable pet insurance offerings in the market,' said the Pet Parents Fraternity at Universal Sompo. 'This is a step toward not only meeting a growing market demand but also fulfilling our commitment to holistic customer well-being.' Real-life testimonials already speak to its value. Mr. Jagrit Joshi, a pet parent working as a Digital Activations Lead, shared, 'As veterinary costs and pet ownership in Indian cities surge, pet insurance is transitioning from luxury to a necessity. My pet dog, Coco, was unwell and advised diagnostic tests. Ultrasound findings revealed crystal formation and a cyst in the prostate, for which he underwent surgery. The Pet Parent Fraternity at Universal Sompo stood in strong support throughout and ensured timely settlement of all claims expenses.' As pet tele-health services gain popularity and veterinary care grows more advanced, Universal Sompo's commitment and pet insurance offering is a timely and responsible initiative. More than just a financial safeguard, Pet Assure is a step toward redefining pet care in India, ensuring pet parents have peace of mind and their furry family members receive the care they deserve.
Time of India
a day ago
- Entertainment
- Time of India
'Bold, Culturally Rooted, and Scalable Storytelling for a Young, Diverse India'
Asia Pacific Video Operators Summit At the Asia Pacific Video Operators Summit (APOS) 2025, hosted by Media Partners Asia (MPA), JioStar Entertainment leaders Alok Jain and Krishnan Kutty laid out a compelling blueprint for the future of Indian storytelling — one that's bold, emotionally resonant, culturally rooted, and built for scale. In a fireside session titled 'Inside the Next Wave of Indian Storytelling', moderated by Vivek Couto, Executive Director and Co-Founder of MPA, Jain and Kutty outlined JioStar's ambitions to champion local voices, innovate across formats, and program for India's young, diverse, and multilingual audiences. Redefining the Role of the Platform 'In a country as creatively diverse as India, it's no longer about scaling content — it's about resetting the creative ecosystem,' said Alok Jain, Chief of Content at JioStar. 'At JioStar, we're committed to ensuring creators are not boxed in by platforms, formats, or legacy structures. Today's storytellers move seamlessly — from short-form to long-form, social to television, digital to streaming. Our role is not to act as gatekeepers, but as collaborators.' He added that JioStar is building infrastructure that allows storytellers to move fluidly across mediums, giving them room to evolve while staying authentic. 'That's how we grow the ecosystem — by empowering creators, not restricting them. That's also how we expand its impact.' Boldness, Redefined: From Spectacle to Substance 'What was considered bold five or six years ago is not what's considered bold now,' said Krishnan Kutty, CEO of JioStar. 'Back then, it was about scale and visual spectacle. Today, boldness is about pushing societal norms, asking deeper questions, and doing it within the Indian context. We're not in California; we're in India. Our job is to push boundaries, but also to carry our audience with us.' This ethos is reflected in JioStar's programming — where boldness is not a matter of provocation, but of emotional depth, authenticity, and local resonance. Programming for a Young, Demanding India Jain emphasized that Indian consumers are evolving rapidly, and with them, so must formats and strategies. 'It's a young country. People are exposed to new things and they're demanding and unforgiving. If the story isn't great, they won't watch — regardless of who stars in it.' He cited Thukra Ke Mera Pyaar, a 19-episode show with 50-minute episodes, a debut director, and a debut cast, which turned into a hit from day one. 'That's proof the audience will embrace newness if the content speaks to them.' JioStar is also experimenting with non-fiction, micro-dramas, and hybrid formats. 'Innovation isn't a tactic for us — it's the baseline,' Jain said. The Untapped Youth Opportunity — Especially in the South While platforms like MTV have made inroads with younger audiences, Kutty pointed out that broadcasters and streamers have largely under-programmed for Gen Z. That's about to change. 'For the South, we are committed to increasing our programming volume for that audience by 7 to 10 times.' Jain echoed that youth-focused storytelling is both a creative and business imperative. 'If the industry is to run in a sustainable manner, we must drive content profitably — and focusing on youth is a big one for us.' Embracing the Multilingual, Multi-India Landscape Krishnan Kutty highlighted India's unique advantage: a multilingual, culturally rich ecosystem that fosters endless creative possibilities. 'The diversity of India is a gift from a content creator perspective — every state, every region is a source of different perspectives. What's remarkable is how audiences embrace content beyond their own language or state.' He gave the example of Kerala,"A small state like Kerala creates stories that travel nationwide. 80% of the consumption on JioHotstar for Malayalam content is outside the state. Great stories truly transcend borders.' India's digital video ecosystem is also vast — with 500–600 million users consuming 4–5 hours of content daily. 'The real challenge isn't what to do — but what not to do. There's significant headroom for both subscription and ad growth. And between premium long-form dramas and social storytelling lies a massive untapped space.' Resetting the Economics of Storytelling Kutty was candid about the systemic challenges facing the streaming industry: 'In streaming, we've escalated prices to a point where producers have become B2B entities, creating primarily for the platform, not the end consumer. That has led to a disconnect. Unless the model is reset, I believe it's deeply broken.' Reflecting on the state of theatrical entertainment in India, Alok Jain observed -'We've been in a difficult period where people aren't coming to theatres unless the movie is really, really good. Watching a film now is a three-hour commitment — and that's a big ask.' He argued that both storytellers and exhibitors must reinvent. 'Creators need to tell more authentic stories. Theatre owners must rethink pricing, experience, and value delivery. Theatrical viewing must feel like an experience - not just a screening.' The Great Reset — and the Great Opportunity Jain believes Indian content is poised for a reset — but one filled with possibility. 'Consumers are adapting to multiple formats, and I believe the space will settle. The industry is very cognizant of that. This reset is happening across content types — theatrical films, television, digital-first. And with that comes the opportunity to rethink, reformat, and rebuild.' With 320,000 hours of content across JioStar's network, the common thread, he said, is human emotion and shared experience. 'Our focus is to tell authentic stories from every corner of the country — stories that resonate universally. That emotional truth is what allows Indian content to scale and even travel globally.' India: A Strategic, Youth-Driven Market India remains one of the most strategic markets globally, said Jain. 'With a billion young people, 22 languages, and a thriving economy, India is unmatched in scale and diversity. What makes it exciting is not just its size — it's the scale, youth, and openness to change.'
Sydney Morning Herald
a day ago
- Politics
- Sydney Morning Herald
How the death of a blogger fuelled deadly protests across a nation
The protests against Ojwang's death in custody coincided with demonstrations already planned in Kenya to mark the first anniversary of an anti-government movement led by youth who call themselves Gen Z. Those demonstrations a year ago – sparked by opposition to a proposed tax hike and fuelled, in part, by disgust at pervasive police violence – left more than 60 people dead and 20 others missing. Parliament was also stormed. On Wednesday, a wave of youth-led demonstrations across the country was followed by looting and arson in the capital, Nairobi, and other cities. Kenyan police used live rounds, tear gas and rubber bullets against protesters. Rights group Amnesty Kenya said 16 people had been killed – all from gunshot wounds. It was not immediately clear who had shot them, and Kenyan police spokesperson Muchiri Nyaga declined to comment on the injuries. The New York Times reported that at least 400 people were injured in Wednesday's protests – 83 of them seriously, citing an alliance of grassroots organisations. 'Many of us are being killed with no reason,' said Don Cliff Ochieng, 24, a security guard in Nairobi who said that he was protesting because of the lack of economic opportunities and police brutality. 'It is our right to demonstrate.' On Thursday, after a night of looting and arson left buildings smouldering in central Nairobi, shop owners were cleaning up the charred wreckage. 'Look: everything they burnt. So please government, try talking to the Gen Z. Because this happened [because] of Gen Z. So the Gen Z, try to sit down and talk with the government,' Ibrahim Hamisi, whose building was burnt, said. Shopkeeper Josephine Apondi said 'thugs' had looted 2 million shillings ($23,500) worth of phones and electronics from her Nairobi shop. Kenya's Interior Minister, Kipchumba Murkomen, has accused protesters of attempting to enact 'regime change' and said police had been forced to hold back large crowds who sought to approach parliament and State House, the president's residence. 'Criminal anarchists' had 'unleashed a wave of violence, looting, sexual assault and destruction upon our people', he said. But Boniface Mwangi, one of the prominent figures in the protest movement, told Reuters: 'The branding of [the] protests as a coup is the government's attempt to shift attention from the real issue.'
