Three Indian companies have been featured in the fourth annual Global Powers of Luxury Goods report for this year. The companies are –Gitanjali Gems, Titan and PC Jeweller, and the list is topped by the French company Louis Vuitton.
Gitanjali Gems Ltd was ranked 30th, followed by Titan Company (31st) and PC Jeweller (44th) on the list. Among the top 10 companies globally, three are luxury conglomerates – LVMH Moet Hennessy-Louis Vuitton SA (Louis Vuitton, Bulgari, Emilio Pucci, DonnaKaran, TAGHeuer), Compaigne Financiere Richemont SA (Cartier, Van Cleef & Arpels, Montblanc, Chloe), and The Estee Lauder Companies Inc (Estee Lauder, M.A.C., Aramis, Clinique, Aveda, Jo Malone).
A Deloitte India spokesperson gave these statements in regard to the possible impact of brands on the luxury markets in India. He said: “A rapidly rising urban middle class with increasing disposable income is expected to drive sales of luxury goods. The demand for luxury goods is expected to remain strong, and India remains the bright spot among Asian and BRIC countries, despite the tax on luxury goods.”
In China, Russia and the United Arab Emirates, that are known to be emerging luxury markets, 70 % of consumers claim to have increased their spending on the luxury goods in the last five years, as compared to 53 percent in the more mature markets (EU, US and Japan).
The annual Global Powers of Luxury Goods report examines and lists the 100 largest luxury goods companies globally, based on publicly available data.