Jessica McCormack: How a Challenger Is Seizing the Jewellery Opportunity

Since Jessica McCormack founded her namesake brand in 2008, jewellery has become one of the luxury sector’s most dynamic product categories, fuelled by the rise of self-gifting and the perceived “investment value” of necklaces and bracelets compared to handbags.

The daughter of an auctioneer who went on to work for an auction house herself, McCormack was influenced by her exposure to antique jewellery during a stint at Sotheby’s. She built the brand in London, selling high-end pieces, often with diamonds, meant for more casual, everyday wearing. Her contemporary designs carry the influence of Victorian techniques and bestsellers include the adjustable Ball N Chain necklace.

Jessica McCormack’s expansion from a niche player to bona fide challenger to established historic jewellery house kicked off with the addition of new stores. McCormack opened her first flagship in 2013 in a six-storey townhouse in London’s Mayfair that was decorated with antiques and housed a workshop in the basement. The brand’s footprint eventually scaled up to include a store on Sloane Street, a concession at Harrods and, in 2025, its first international store on Madison Avenue in New York City.

Now, the company is pushing further into the US market with a new store in California’s South Coast Plaza to be followed by a Rodeo Drive boutique in Los Angeles in 2027.

Sales have grown fast, up 60 percent last year to reach around $80 million, making it one of the top-performing assets of investor Lingotto Horizon. For the latest edition in our State of Fashion series in partnership with McKinsey, chief executive officer Leonie Brantberg discusses the rise of jewellery, wearing diamonds more casually, building an independent brand and expansion plans.

BoF: How do independent jewellers fit in this market dominated by the big historic houses?

Leonie Brantberg: We are doing something a bit different — there’s always a client who doesn’t want the thing that everybody else has.

Because of the high barriers to entry, there are fewer competitors. If I don’t want to buy a big, obvious brand in fashion, I’ve got a thousand more independent designers that I can buy from that are cool and can make me look different in every corner of the world. It’s a little bit less crowded in our sector.

While it’s okay that I get the same sneakers as everybody else, or the same bag — in fact, I’m trying to get the same bag, because it’s value signalling — it’s not okay that I have the same engagement ring as everybody else. You want something more personal. Independent jewellers can offer that.

BoF: What is the brand’s approach to international expansion? Why the US?

LB: Last year we opened a store on Madison Avenue in New York, and we’ve got two more on the West Coast. Jessica built a very strong following in the US. Last year, we signed Zoë Kravitz as our brand ambassador. Having that American base, American visibility, it made sense to go that way.

It is not a surprise for UK brands to go to America first, that’s a well-trodden path. But we had a very organic following in the US from visible clients. A big barrier for a brand like ours is how you get visibility when [European heritage houses] have the best marketing budget. We wanted to play to our strengths.

We’re going to test and learn. We’re a family office backed by people who have owned luxury brands for many, many years. We can expand at the pace that suits the brand and keeps the energy and creativity at the heart without diluting it.

BoF: What can you tell me about the US market? What’s more popular there?

LB: The US consumer is incredibly optimistic at the ultra-high-net-worth end, and very resilient, very bold in their choices.

In the US, not only is the consumer inherently different, but we’re new. What sells there is the core stuff that Jessica’s [UK] clients already bought 10 years ago but now are attracting great interest in the US.

BoF: How are you engaging with clients at these different stages of development and in different markets?

LB: On the brand level, it’s all one voice, it’s consistency about who we are, Jessica’s aesthetic, the aesthetic of our brand ambassador — that’s all very, very consistent.

The key is client advisors on the ground. They are the ones who know their clients.

Being independent, we can give them more empowerment. You know the brand guidelines, serve them in the way that you want to. If there’s a collection that you think they’ll love, go for it. If there’s a collection that isn’t really for them, don’t just reach out to them because it’s a box ticking exercise. Make sure that you know all about them, that you care about them and take care of them.

Let’s say it’s a guy. I know, through getting to know him, when his wife’s birthday is. And, by the way, it is incredibly useful if I give him 10 suggestions six weeks ahead of what to buy his wife.

Jessica makes diamonds a lot less serious than everybody else makes them, without removing the gravitas of the quality and the craftsmanship.

BoF: What is the role of culture and craftsmanship?

LB: One of our shareholders is a prolific art collector and all our stores are filled with art. Jessica is the daughter of a collector and collecting art and objects is part of her world. That’s a strong tie to culture.

As for craftsmanship, we have a beautiful workshop in Mayfair with British craftspeople including goldsmiths. The workshop is underneath the store. People can see how the jewellery is made. They want a different size or polishing, they can go downstairs and talk to the craftsmen. That’s a pretty engaging way of creating connection.

We love events. We’ve done a few brand parties because the community is so strong. They’re women who are buying this jewellery for themselves, who are cool, who are bold, who are doing interesting things and love getting together.

Jessica makes diamonds a lot less serious than everybody else makes them, without removing the gravitas of the quality and the craftsmanship.

This article first appeared in ‘Face to Face With Luxury Clients,’ the latest edition in our State of Fashion series co-published by BoF Insights and McKinsey & Company.

This interview has been edited and condensed.