Dr. Gunnar Binder, CEO of CHRIST: „The jewelry industry is more stable than many think“

Dr. Gunnar Binder in conversation with INSIGHT-LUXURY about market situation, trading-up, omnichannel and services at CHRIST.

On the Inhorgenta The international jewelry and watch industry met in February to discuss trends, innovations, and market impulses. We spoke there with Dr. Gunnar Binder, CEO of Christ Jewelers and Watchmakers, about current developments in the retail sector, changing consumer behavior, and the company's strategic direction in a dynamic market environment. As a long-time retail expert, Binder is responsible for the strategic development of the long-established jeweler and is driving, in particular, the omnichannel transformation and the positioning of the brand in the premium segment.

INSIGHT -LUXURY: Dr. Binder, the overall economic situation in Germany is currently often described very negatively. How do you experience the situation in the jewelry industry – and specifically at CHRIST?

Dr Gunnar Binder:

I perceive the situation in a more nuanced way. For the jewelry industry as a whole, I see remarkable stability. It is proving resilient – perhaps more so than many expect. Jewelry is not a purely functional product, but rather emotionally charged – often linked to significant life events. This emotional component stabilizes demand, even in economically challenging times.

For CHRIST, the following applies: We benefit from our strong brand recognition, our wide product range, and our clear positioning as a modern, service-oriented jeweler. Overall, we are seeing moderate growth. We are gaining market share – and are very pleased with that.

INSIGHT -LUXURY: Has the increased price of gold possibly heightened the perception of its value?

Dr Gunnar Binder:

This definitely works in our favor. The price of gold has risen significantly, and with it, the prices of gold jewelry. Nevertheless, we are selling more gold products than before. These materials represent value, durability, and sustainability. This shows that customers are willing to invest in quality.

Our strategic focus is shifting towards higher-end jewelry. This also increases the average transaction value – and we clearly saw this trend last year.

INSIGHT -LUXURY: Last year you announced a stronger focus on trading up. How has this strategy developed?

Dr Gunnar Binder:

Our strategy focuses consistently on quality, value, and brand differentiation. The goal is to position CHRIST even more clearly as a high-quality, modern jeweler with a strong service commitment.

We further refined our brand portfolio last year. We divested ourselves of some brands to focus more strongly on strategically relevant partners. In the entry-level and mid-range segments, for example, we expanded our collaboration with Pandora. In the higher-priced watch segment, we strengthened our cooperation with the Swatch Group and introduced this brand to additional locations.

In the high-end jewelry segment, we are increasingly focusing on our own brand CHRIST. 

The most important metric for me is always the average transaction value, and that has risen significantly. This confirms that our strategy is working.

INSIGHT -LUXURY: How important is the interplay between online and brick-and-mortar retail?

Dr Gunnar Binder:

The further development towards a consistent omnichannel model with a "customer first" mentality was a strategically important step and clearly corresponds to today's consumer behavior.

Our data shows that many customers research online and then buy in-store. However, the reverse also occurs: browsing in-store, then ordering online later.

The omnichannel approach is key. The greatest potential lies primarily in the even closer integration of both channels – for example, in pricing strategy, assortment management, and customer experience. The goal is a seamless customer journey in which online information, digital services, and personal in-store advice work together seamlessly.

Our brick-and-mortar stores remain the heart of the CHRIST brand. Our expansion in Austria is particularly interesting. With the opening of new stores, online sales have also increased disproportionately. This demonstrates how strongly physical presence and digital channels mutually reinforce each other.

INSIGHT -LUXURY: Will CHRIST continue to open new locations, and if so, in which locations? 

Dr Gunnar Binder:

We are sticking to our expansion strategy of developing six to eight new locations per year. This year, we are planning eight to ten new openings. Our store strategy contributes sustainably to the company's growth, even though new locations need time to reach their full potential.

In parallel, we are consistently driving forward modernizations in order to roll out our brand and store concept more quickly and uniformly across the country.

INSIGHT -LUXURY: Sustainability is still present – but does it still have the same meaning as a few years ago?

Dr Gunnar Binder:

Sustainability is an indispensable part of business operations today. However, it is only a limited active selling point. Customers primarily decide based on design, price, and emotional appeal. If sustainability is also a factor, it has a positive effect – but it is rarely the deciding factor.

Sustainability is not a trend for us, but strategically embedded, even at the group level. All production of our own jewelry within the Morellato Group is certified according to the highest sustainability standards of the Responsible Jewellery Council (RJC). CHRIST has also been independently RJC-certified since last year. This underscores our commitment to meeting responsible standards throughout the supply chain – regardless of how prominently this is communicated.

INSIGHT -LUXURY: How do you assess the issue of synthetic diamonds?

Dr Gunnar Binder:

We are seeing increasing market acceptance of lab-grown diamonds. However, general knowledge about synthetic diamonds is still low. According to a CHRIST survey, only around ten percent are familiar with the term – and even fewer understand the differences in detail.

However, we also see opportunities here. We offer both natural and lab-grown diamonds. Fair and transparent communication is crucial. Ultimately, these stones allow us to serve diverse needs and target groups.

INSIGHT -LUXURY: What role does CHRIST play within the Morellato Group?

Dr Gunnar Binder:

With the integration into the Morellato Group, we have strategically sharpened and enhanced our portfolio without losing our roots as a classic jeweler.

We see the greatest synergies in purchasing, production, brand management and international know-how.

At the same time, it is important to consciously preserve the independence of the CHRIST brand. Our strong market position in Germany, our customer proximity, and our specific brand profile remain key success factors. The balance between group-wide strength and local brand identity is crucial.

The corporate structure is hardly visible to end customers. What is more noticeable is a targeted development of the brand portfolio.

INSIGHT -LUXURY: Do customers tend to enter stores with a focus on brands or products?

Dr Gunnar Binder:

In the watch sector, brand orientation is very pronounced. Customers looking for a specific brand want exactly that product. In the jewelry sector, there is more openness – here, design often takes center stage, and our customers appreciate professional advice in the store to find the perfect piece of jewelry.

INSIGHT -LUXURY: What are your strategic goals for 2026?

Dr Gunnar Binder:

Our basic strategy remains the same: focus on private labels in the jewelry sector, strategic brand partnerships in the watch sector, expansion and development of services.

Key factors remain strong locations, customer proximity, a clear brand profile, high service quality, and the consistent integration of brick-and-mortar retail and digital offerings.

Services are playing an increasingly important role. We've introduced gold buying – with transparent processes and clearly comprehensible valuations. This year, we'll be rolling out engraving as a personalization service across the board. Training is essential for this. We've learned that new services require intensive training. We're consciously investing in this – not least to make working in retail more attractive.