 "A saleswoman shows a gold earring to customers at a jewellery showroom in Mumbai. Photo: Reuters")
Malabar Gold & Diamonds and fashion accessories maker Titan featured among the top 100 luxury goods makers in Deloitte's Global Powers of Luxury Goods rankings 2023.
Kozhikode-based Malabar Gold led India's list at 19th rank globally, followed by Titan, positioned at 24th rank. Diversified French luxury goods company Louis Vuitton or, known as LVMH topped the list globally.
Indian Jewellery players Kalyan Jewellers and Joy Alukkas are listed at the 46th and 47th spots, respectively.
Malabar, which debuted on the list, boasts a value of over $4 billion in terms of revenue in 2023. Titan follows closely at $3.67 billion.
Which Indian brands featured on the top 100 luxury goods makers list?
1) Malabar Gold & Diamonds - 19th
2) Titan - 24th
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3) Kalyan Jewellers - 46th
4) Joy Alukkas - 47th
5) Senco Gold & Diamonds - 78th
6) Thangamayil Jewellery - 98th
The French multinational holding and conglomerate LVMH is owned by the world's third richest person, Bernard Arnault. He boasts a massive net worth of $192 billion, right below Tesla CEO Elon Musk and Amazon founder Jeff Bezos.
According to the report, the top 100 luxury goods makers reported a combined turnover of $347 billion in 2023. Of these, as much as 31 per cent was contributed by LVMH alone. The report also said that the top 10 brands controlled 63 per cent of the market and 76.4 per cent of the combined net profit of the top 100 list.
American clothing major Phillips-Van Heusen Corporation stood second on the list, while Switzerland-based luxury goods holding company Richemont was ranked third on the list.
