Three Indian jewellery companies – Titan, Gitanjali Gems and PC Jewellers – have been ranked among the 100 largest luxury goods companies globally by Deloitte Touche Tohmatsu Limited in its latest Global Powers of Luxury Goods 2016. The listing is based on publicly available data for consolidated sales of luxury goods in the 12 month period ending 30 June 2015.

Titan Company, which owns iconic brands including Tanishq, Titan, Nebula, Xylys and Zoya has been listed at 32, while Gitanjali Gems which owns popular brands like Nakshatra, Gili, Asmi etc has been listed at 40. PC Jeweller Ltd has been ranked at 44.

Besides India, the other two Asian countries with brands featuring in the list include China and South Korea, with Chinese jeweller Chow Tai Fook ranking at No 7.

The list is headed by three luxury conglomerates with operations in multiple sectors of the luxury good market - Louis Vuitton SA, Richemont and Estee Lauder.

As per the report, the world’s 100 largest luxury goods companies generated sales of US$ 222 billion in the 12 months ended June 30, 2015, which was 3.6% higher year-on-year. It added that the average luxury goods annual sales for a Top 100 company is now $2.2 billion.

The Deloitte report says, “The global luxury goods sector is expected to grow more slowly in 2016, at a rate many retailers may find disappointing. The growth rate is slowing in important markets such as China and Russia, although some markets continue to perform well and there are pockets of opportunity across the globe.”

India, along with Mexico, is identified as one of the markets that “are growing quickly”, while the Middle East is said to “offer further growth potential”.

The report concludes with the observation that there is a “shift in the luxury path-to-purchase”. Elaborating on this aspect, it says that luxury goods consumers are “empowered by social networks and digital devices” and are “dictating increasingly when, where and how they engage with luxury brands.”

Consumers are seeking a “more personalised luxury experience, and expect to be given the opportunity to shape the products and services they consume”.