The product category that led the growth of the luxury sector was accessories, which benefited from global price increases. Shaking off the impact of reduced demand in China, the hard luxury subsector grew 5%, in line with the overall market in luxury goods. The trend toward democratization of hard luxury items was clearly visible in the outperformance of affordably priced jewelry and watches. Both diamond jewelry retail sales and the value of diamond content roughly mirrored the growth of the hard luxury market itself, posting 3% gains and topping their precrisis levels