Dubai: Luxury giant Louis Vuitton was ranked first in the Global Powers of Luxury Goods 2023 report released by Deloitte last week. The annual report ranks the top players in the global luxury goods sector and ranks the top 100 brands based on annual sales figures, brand value and other factors.
Global brands including Kering SA, The Estee Lauder companies, Chanel, and Hermes are among the top ten luxury retailers, the report revealed.
Malabar Gold & Diamonds was ranked 19th on the global list, becoming the top-ranking debutant and the highest-ranked Indian brand. The extensive retail presence of the brand across 13 countries in Asia, Europe, North America, and Australia contributed to the ranking, according to a media release from the company.
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 and handbags.
The report also provides detailed insights into the luxury goods market, including trends, challenges, digital innovations, impact of millennials and Gen Z customers, emphasis on sustainability and other opportunities, providing key insights into the industry’s performance over last year.
