Three ‘desi’ companies in fastest growing luxury brands

New Delhi, Apr 18: Three Indian brands — Titan Company, PC Jeweller and Joyalukkas India — have entered the list of top 20 fastest growing luxury brands globally, reveals a report. Titan, a Tata company, has emerged as fourth fastest growing luxury goods company in the world with sales growth of 23.6 % in the year ending June 30, 2018 and a CAGR of 19.7% between July 2015 and June 2018, according to a study by Deloitte.
This is a change from the previous two years, when Italy claimed the largest number of companies in the list. In the current period, four companies in the fastest 20 list were headquartered in the US.
Two other Indian companies that made it to the list of top 100 luxury brands globally in terms of sales during the same period are jewellers too, — Kalyan Jewellers and Tribhovandas Bhimji Zaveri.
The minimum revenue threshold required to enter the world’s top 100 list of luxury goods companies, Deloitte said, was $218 million with an average company size of $2.5 billion. Around 76% of the companies reported growth in their luxury sales, with nearly half of these recording double-digit y-o-y growth.
Clothing and footwear companies dominated with the highest number of companies, while cosmetics and fragrances witnessed the highest luxury goods sales growth.
“India continues to experience a high growth rate on the back of growing markets beyond the major metros and the emergence of HENRYs (High Earners, Not Rich Yet),” said Anil Talreja, partner at Deloitte India.