Three
Indian companies -- Gitanjali Gems, Titan and PC Jeweller -- have
been named in the list of top 50 luxury goods firms globally that was
topped by Louis Vuitton. Gitanjali Gems Ltd was placed in the 30th
rank, followed by Titan Company (31st) and PC Jeweller (44th) in the
fourth annual Global Powers of Luxury Goods report. Among the top 10
companies globally, three are luxury conglomerates participating in
multiple sectors of the luxury good market. The top three companies
are 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). On the economic outlook of luxury market in India and the
potential impact it may have on brands, a Deloitte India spokesperson
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." Emerging consumer markets continue to
drive luxury market growth. In China, Russia and the United Arab
Emirates, that are categorised as emerging luxury markets, 70 per
cent of consumers claimed to have increased their spending in the
last five years as compared to 53 per cent in the more mature markets
(EU, US and Japan). The report noted that the world's 100 largest
luxury goods companies generated sales of USD 212 billion in 2014-15.
The average luxury goods annual sales for a top 100 company stood at
USD 2.1 billion. The fourth annual Global Powers of Luxury Goods
report, titled 'The new luxury consumer', examines and lists the 100
largest luxury goods companies globally, based on publicly available
data for consolidated sales of luxury goods in 2014 -2015.
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