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Three Indian companies make it to 'Deloitte Global Powers of Luxury Goods 2016'
The three companies include Titan, PC Jeweller and Gitanjali
By: Diamond World News Service
May 28 2016 11:07AM
Reference: 13071  

Image Courtesy: Deloitte
Image Courtesy: Deloitte
In a report by Deloitte, named 'Deloitte Global Powers of Luxury Goods 2016' three Indian companies have been listed among 100 global luxury brands, as per reports. The three companies including Titan at 32nd rank, Gitanjali Gems at 40 and PC Jewellers at rank 44, have for the first time made it to this list of top 100.

In the list, the top three positions have been occupied by Louis Vuitton SA, Richemont and Este Lauder. The Swatch Group fell from the lead position of being the 'highest net profit margin top 10 company' it was at for the previous two years being overtaken by Louis Vuitton, reports add.

This is the third annual Global Powers of Luxury Goods report. It examines and lists the 100 largest luxury goods companies globally, based on publicly available data for consolidated sales of luxury goods in financial year 2014 (which Deloitte defines as financial years ending within the 12 months to 30 June 2015). It also provides an outlook on the global economy; an analysis of merger and acquisition activity in the industry and discusses the key forces shaping the luxury market.

The world’s 100 largest luxury goods companies generated sales of $222 billion in financial year 2014, 3.6 percent higher year-on-year. The average luxury goods annual sales for a Top 100 company is now $2.2 billion.

The reports suggests that ‘the luxury goods sector has now passed the mid-point of the ‘decade of change.’ Also as per the report, ‘we are on the verge of entering into the second half of 'decade of change' for luxury goods sector with an expectation of remarkable changes by 2020.’ The economic challenges could slowdown the growth of the global luxury goods sector in 2016 in China and Russia, while a growing market is being witnessed in India owing to improved purchasing power, better consumer buying behaviours, the merging of channels and business model, the growing importance of the millennial consumer and the continued impact of the global economy," as per reports. The report this year noted a doubling of all-round high performers doubled, 15 companies achieved double-digit growth in luxury goods sales and a double-digit net profit margin in 2014, compared to the previous year's report. Also, private equity firms continue to invest in the sector, reports say.

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