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5 Indian jewellery brands in top 100 luxury cos' list
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Deloitte said that these top 100 luxury goods companies generated $252 billion in revenue globally, despite the challenges of 2020 when most firms concentrated their efforts on sustaining their businesses
New Delhi: Five Indian jewellery brands have made it to the list of top 100 luxury companies across the world, according to a new report. Tata Group's Titan Company jumped three places on the top 100 'Global Powers of Luxury Goods' list to rank 22 and was among the 20 fastest-growing luxury goods companies. To get more news about jewelry designers, you can visit jewelryhunt.net official website.Four other brands − Kalyan Jewellers, Joyalukkas, PC Jewellers, and Tribhovandas Bhimji Zaveri Limited – have ranked 37, 46, 57, and 92, respectively, said professional services company Deloitte in its report. Though Zaveri is a first-time entrant, gems and jewellery category has dominated from India in previous years as well.
The top 10 luxury brands featured in the list included leading firms from Europe, the Middle East and Africa region such as French major LVMH Moët Hennessy-Louis Vuitton SE; Kering SA, which runs brands like Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen; Capri Holdings that runs Michael Kors, Versace and Jimmy Choo; Compagnie Financière Richemont that is the parent company of Cartier, Chloé and Dunhill; L'Oréal Luxe, Chanel Limited, Essilor Luxottica, and Hermes International.Deloitte said that these top 100 luxury goods companies generated $252 billion in revenue globally, despite the challenges of 2020 when most firms concentrated their efforts on sustaining their businesses. More than half of these top 100 firms were profitable in FY20, added the new report.
On this list, outside of the US, five of the top ten luxury companies are vertically-integrated jewellery retailers from India. Porus Doctor, partner and consumer industry leader at Deloitte Touche Tohmatsu India, said increased vaccination and a decline in the number of covid-19 cases, the festive season saw a strong demand compared with the past year. "These brands banked on their strengths and weaved in online solutions that complemented their growth strategy. Indian jewellery retailers have been resilient," he said.It said that Titan Company had made sales of $2,888 million in FY2020 and saw a net profit margin increase of 7% versus the year before. Its net profit margin is based on total consolidated revenue and net income. In the last three years (FY2017-20) the company has demonstrated a sales CAGR of 17%.
Kalyan Jewellers, which was up 6 rankings from 2019 to 2020, for instance, saw a luxury goods sale of $1424 million and a revenue of $1435 million for FY2020 and a net profit margin of 1.4%. It showed a CAGR of 0.9% between FY17 and FY20.
Joyalukkas India, up three rankings, saw a luxury goods sale of $ 1,131 million (estimated) and a revenue of $1131 million (estimated) for FY2020 and a CAGR of 6.1% between FY17 and FY20.But it added that while it was in the top 100 list, PC Jeweller' fell in its ranking ten places with sales falling by 40%, as consumer demand plunged due to a sharp increase in gold prices, low growth in the Indian economy, and the impact of COVID-19 on the peak marriage month of March 2020.
The report added that the importance of China and India in the global jewellery market is reflected in the 14 vertically integrated jewellery retailers from the two countries in the top 100 list. The remaining are nine companies from China (mainland and Hong Kong SAR).The leading US jewellery company, however, it said, Tiffany & Co., will disappear from the Top 100 in next year’s report, as its acquisition by LVMH was completed in January 2021.