Executive Summary

Feb 2019
PROSPECTS
Women continue to purchase luxury jewellery for everyday wear

Traditionally, India’s jewellery market has been amongst the largest globally, and dominated by women, who have a strong affinity for gold. As the younger generation of women in the country are mostly working individuals with higher disposable incomes, they have become more aspirational and want to wear luxury jewellery.

Men are the new consumers of luxury jewellery

Sales of luxury jewellery have traditionally largely been driven by women. Although this is still very much the case in the Indian market, there has been a general shift over the years, and it is noticeable that year-on-year more men are looking at jewellery such as rings, bracelets and chains to accessorise.

Rising customs duties to impact the final prices of imported jewellery

In 2018, as part of the “Make in India” initiative promoted by the Modi government to incentivise domestic manufacturing, the federal budget imposed higher customs duties on a range of imports, which also included imitation jewellery and precious stones. This resulted in the basic customs duty increasing from 15% to 20% for imitation jewellery and from 2.

COMPETITIVE LANDSCAPE
Swarovski India continues to lead luxury jewellery

Swarovski India remained the leading player in luxury jewellery in the country in retail value terms in 2017. The company has a strong portfolio of products and a diverse range of offerings, ranging from jewellery and watches, to home decorations and sunglasses, to name a few.

Fragmentation in luxury jewellery

India’s luxury jewellery category is quite different compared with other countries. It is amongst the largest globally, making it highly competitive.

Entry barriers ward off many international companies

Foreign players have a tough time figuring out local design and style preferences in India. They are also obliged to pay higher taxes to the government compared with local players, due to the customs duties involved.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Jewellery industry in India with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Jewellery industry in India, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Jewellery in India market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Luxury Jewellery in India?
  • What are the major brands in India?
  • How dynamic is the growth of Luxury Jewellery internet sales?
  • What is driving growth?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply function

Luxury Jewellery in India - Category analysis

HEADLINES

PROSPECTS

Women continue to purchase luxury jewellery for everyday wear
Men are the new consumers of luxury jewellery
Rising customs duties to impact the final prices of imported jewellery

COMPETITIVE LANDSCAPE

Swarovski India continues to lead luxury jewellery
Fragmentation in luxury jewellery
Entry barriers ward off many international companies

CATEGORY DATA

Table 1 Sales of Luxury Jewellery by Category: Value 2013-2018
Table 2 Sales of Luxury Jewellery by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Jewellery: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017
Table 5 Distribution of Luxury Jewellery by Format: % Value 2013-2018
Table 6 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023
Table 7 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2018-2023

Luxury Goods in India - Industry Overview

EXECUTIVE SUMMARY

Growth slows as luxury goods faces multiple challenges
Affordable luxury products are key to tap into the younger consumer group
Fragmentation is prevalent in the competitive landscape
Store-based retailing maintains its dominance
Luxury goods is expected to continue its positive performance

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2013-2018
Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources