Austrian crystal maker Swarovski is looking to grow on the Indian market by taking the luxury brand beyond consumer items such as jewellery and giftware.
The company will now intensify its efforts in…
Austrian crystal maker Swarovski is looking to grow on the Indian market by taking the luxury brand beyond consumer items such as jewellery and giftware. The company will now intensify its efforts in the business-to-business market through greater engagement with designers and architects to identify new application segments for its crystals. The Indian subsidiary has been working on segments such as bath fittings, furniture, highlight accessories and other objects of desire for residential and commercial spaces. All the above would become a basis for Swarovski initiatives in India. “Indians have shown a strong appetite for luxury products and with crystals being amazingly flexible in its application, it is a critical market for us”, said Markus Langes-Swarovski, executive director on the Swarovski board. The Indian subsidiary of the EUR 2.12-billion group is learnt to have jointly (with bath fittings and accessories company Jaquar) won an order for 130 chandeliers from Delhi Metro Rail for its stations. Heading the strategy for the segment is Swarovski“s Crystal Component Business (CCB) arm while the company“s Consumer Business Group is actively consolidating the company“s presence in the retail segment. CCB includes Swarovski Crystal Fashion Components, which offers crystal components for the jewellery and textile segments, and Swarovski Business Unit Architecture that offers crystal components for lighting and bath accessories.