Michael Hill sister brand Medley has confirmed that its business strategy is working, with the launch of its unisex range.
Speaking to Ragtrader, Medley said that the expansion into unisex styles came naturally to the brand.
"Our launch into unisex happened organically, we started to notice we were gaining a male customer, our investigation into these male customers showed they were self-gifters.
"This validated our business model as we target those who purchase for themselves.
"It was great to see the designs resonated with men," the business said.
According to data from Statista, the Australian jewellery market was worth $4 billion in 2020, while IBISWorld anticipates the category to achieve continued growth over the next five years.
"The Watch and Jewellery Retailing industry is projected to grow over the next five years due to anticipated overall rises in discretionary incomes and consumer sentiment," IBISWorld said.
"Branded jewellery chains are set to become increasingly popular as consumers demand high-quality and fashionable jewellery products.
"Competition is anticipated to intensify, particularly from online-only retailers and department stores," the research firm said.
So, Medley's ability to cater to a range of tastes through its unisex collection will assist it to maintain footing in the increasingly competitive market.
The business added that it designs with men and women in mind.
"We offer foundational pieces like the Boyfriend Figaro Chain, these are designed to be unisex.
"Our curation of products in the unisex collection is simply to show options that men will fit.
"We believe in the neutrality of our designs and are excited to continue to design with both men and women in mind.
"Our brand is about wearing it for nobody but yourself and we love that our customers want it regardless of their gender," Medley said.