Three Indian luxury brands among top 100 globally

The world's 100 largest luxury goods companies generated sales of $222 billion in the financial year 2014, 3.6 per cent higher year-on-year. The top three are Louis Vuitton SA, Richemont and Estee Lauder. Indian brands Titan (32), Gitanjali Gem (40) and PC Jewellers (44) were featured for the first time in the top 100, according to the Global Powers of Luxury Goods 2016 report of Deloitte titled "Disciplined Innovation".

India is seen as a growing market for luxury goods due to key factors like improved purchasing power, better consumer buying behaviour, the merging of channels and business model, growing importance of the millennial consumer, and the continued impact of the global economy, said Anil Talreja, partner, Deloitte Haskins & Sells LLP.

The luxury sector has not been immune to e-commerce. The original challenge for brands was replicating the shopping experience online, but increasingly the more valuable investment is how to use digital technology to enhance the store experience.

Many brands have opted for mobile technology, but with m-commerce, there is the challenge of replicating the luxury experience on a four-inch screen. But it is the last mile, the final delivery to the home, where the true battleground exists.