Dr. Gunnar Binder, CEO of CHRIST: "The jewelry industry is more stable than many people think."
Dr. Gunnar Binder talks to INSIGHT-LUXURY about the market situation, trading up, omnichannel, and services at CHRIST.
The international jewelry and watch industry gathered at Inhorgenta in February to discuss trends, innovations, and market developments. We spoke 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 orientation in a dynamic market environment. As a long-standing retail expert, Binder is responsible for the strategic development of the traditional jeweler and is particularly driving forward 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 in very negative terms. How do you see the situation in the jewelry industry—and at CHRIST in particular?
Dr. Gunnar Binder:
I see the situation in a more nuanced way. I believe the jewelry industry as a whole is remarkably stable. It is proving to be resilient—perhaps more so than many expect. Jewelry is not a purely functional product, but rather an emotionally charged one—often associated with special life events. This emotional component stabilizes demand, even in economically challenging times.
For CHRIST, the following applies: We benefit from our strong brand awareness, our broad 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 satisfied with this.
INSIGHT -LUXURY: Has the rise in the price of gold possibly reinforced the perception of value?
Dr. Gunnar Binder:
That definitely plays into our hands. 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 stand for value, durability, and sustainability. This shows that customers are willing to invest in value.
Our strategic focus is shifting toward higher-value jewelry. This also increases the average receipt value—and that is exactly what we saw clearly 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 profile. The aim is to position CHRIST even more clearly as a high-quality, modern jeweler with a strong service promise.
We continued to refine our brand portfolio last year. We divested ourselves of individual brands in order 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 expanded our cooperation with the Swatch Group and equipped additional locations with this brand.
In the upscale jewelry segment, we are increasingly focusing on our own brand, CHRIST.
For me, the most important indicator is always the average receipt value, and that has risen significantly. This confirms that our strategy is working.
INSIGHT -LUXURY: How important is the interaction 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 gather information online and then make their purchase in-store. However, the reverse is also true: viewing in-store and ordering online later.
The omnichannel approach is key. The greatest potential lies above all in the even stronger integration of both channels—for example, in pricing strategy, product range management, and customer experience. The goal is a seamless customer journey in which online information, digital services, and personal advice in the store are optimally interlinked.
Our brick-and-mortar locations remain at the heart of the CHRIST brand. Our expansion in Austria is particularly interesting. With the opening of new stores, online sales have also risen disproportionately. This shows how strongly physical presence and digital channels fuel each other.
INSIGHT -LUXURY: Will CHRIST continue to open new locations, and in which locations?
Dr. Gunnar Binder:
We are sticking to our expansion strategy of developing six to eight new locations per year. We are planning eight to ten new store openings this year. Our store strategy contributes to sustainable growth for the company, even though new locations need time to reach their full potential.
At the same time, we are consistently pushing ahead with modernization measures in order to roll out our brand and store concept more quickly and uniformly across the board.
INSIGHT -LUXURY: Sustainability is still present—but does it have the same meaning as it did a few years ago?
Dr. Gunnar Binder:
Sustainability is now an indispensable part of business activity. However, it is only a limited selling point. Customers primarily make decisions 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.
For us, sustainability is not a trend, but a strategic priority, even at the group level. All jewelry manufactured in-house 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 in the supply chain – regardless of how strong the communication impact may be.
INSIGHT -LUXURY: How do you assess the topic 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, transparent communication is important. Ultimately, we serve different needs and target groups with these stones.
INSIGHT -LUXURY: What role does CHRIST play within the Morellato Group?
Dr. Gunnar Binder:
By joining the Morellato Group, we have strategically refined our portfolio and focused on higher quality, without losing sight of our roots as a traditional jeweler.
We see the greatest synergies in purchasing, production, brand management, and international expertise.
At the same time, it is important to consciously preserve the independence of the CHRIST brand. Our strong market position in Germany, our customer focus, and our specific brand profile remain key success factors. Striking a balance between group-wide strength and local brand identity is crucial in this regard.
The group structure is hardly visible to end customers. What is more noticeable is the targeted further development of the brand portfolio.
INSIGHT -LUXURY: Are customers more brand-oriented or product-oriented when they come into stores?
Dr. Gunnar Binder:
In the watch sector, brand orientation is very pronounced. Anyone looking for a specific brand wants exactly that product. In the jewelry sector, there is greater openness—here, the focus is often on design, and our customers appreciate professional advice on finding the perfect piece of jewelry in the store.
INSIGHT -LUXURY: What are your strategic goals for 2026?
Dr. Gunnar Binder:
Our basic strategy remains unchanged: focus on own brands in the jewelry sector, strategic brand partnerships in the watch sector, expansion and development of services.
Strong locations, customer proximity, a clear brand profile, high service quality, and the consistent combination of brick-and-mortar retail and digital offerings remain crucial.
Services are playing an increasingly important role. We have introduced gold purchasing—with transparent processes and clearly comprehensible valuation. This year, engraving will follow as a personalization service across the board. Training is essential in this regard. We have learned that new services require intensive training. We are consciously investing in this—not least to make jobs in retail more attractive.
