Four Indian jewellery brands in Deloitte top-100 list

Kalyan Jewellers, Joyalukkas, PC Jewellers, and Tribhovandas Bhimji Zaveri Limited have ranked 37th, 46th, 57th, and 92nd, respectively, in the list

Post By : IJ News Service On 15 December 2021 12:05 PM

Four Indian jewellery brands have made it to the list of top-100 luxury companies across the world, according to a new report of professional services company Deloitte.

Kalyan Jewellers, Joyalukkas, PC Jewellers, and Tribhovandas Bhimji Zaveri Limited have ranked 37th, 46th, 57th, and 92nd, respectively, in the list.

Tata Group's Titan Company jumped three places in the top 100 'Global Powers of Luxury Goods' list to rank 22nd, and was among the 20 fastest-growing luxury goods companies.

The top-10 luxury brands featured in the list included leading firms from Europe, the Middle East and Africa, 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.

In this list, outside of the US, five of the top-ten luxury companies are vertically-integrated jewellery retailers from India.

Kalyan Jewellers, which was up six places from 2019 to 2020, saw sales 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 places, saw sales 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, while it was in the top-100 list, PC Jeweller fell 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 in 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.

 

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