The most coveted Global Powers of Luxury Goods 2023 report released last week saw the luxury giant Louis Vuitton topping the list. The annual report, published by Deloitte ascertains the top players in the global luxury goods sector and ranks the top 100 brands operating in the sector based on annual sales figures, brand value and other factors. Global brands including Kering SA, The Estee Lauder companies, Chanel, Hermes, etc. are among the top 10 luxury retailers in the report.

Indian brand Malabar Gold & Diamonds attained the 19th rank on the global list, becoming the top-ranking debutant and the highest-ranked Indian international brand. The extensive retail presence of the brand across 13 countries in Asia, Europe, North America, and Australia has been a major contributing factor to securing this prestigious position.  Alongside Malabar Gold & Diamonds, various distinguished Indian watch and jewellery brands have also secured positions within the Top 100 rankings. Titan Company Ltd was ranked 24th, while Kalyan Jewellers and Joy Alukkas were ranked 46th and 47th respectively. Senco Gold & Diamonds and Thangamayil jewellery were the other Indian brands that made it to the list, with a ranking of 78 and 98 respectively.

France emerged as the foremost hub for luxury, boasting seven companies within the Top 100 list and collectively contributing to nearly a third of sales. This comprehensive report, which is compiled based on data available in the public domain, examines and ranks the top 100 largest brands operating in various luxury goods sectors such as jewellery, watches, cosmetics & handbags based on annual sales figures, brand value and several other factors. The report also provides detailed insights into the luxury goods market, including trends, challenges, digital innovations, impact of Millennial & Gen Z demography, emphasis on sustainability and other opportunities, providing a key insight into the sector’s performance last year.