**Van Cleef & Arpels to Open First Store in Delhi’s Luxury Mall**
French high-jewellery brand Van Cleef & Arpels, renowned for its exquisite, nature-inspired designs adorned with precious gems, is set to launch its inaugural store in Delhi’s Emporio or The Chanakya Mall within this fiscal year, according to sources familiar with the development. Other prestigious European luxury brands, including France’s Chaumet and Switzerland’s Chopard, are also planning to enter the Indian market, as revealed by insiders who requested anonymity due to the confidential nature of the information. Additionally, Buccellati, celebrated for its intricate Italian craftsmanship, is reportedly in preliminary discussions to establish a presence in India.
Last week, the Parisian jewellery brand Messika made its debut in India with a new store in Delhi. Established luxury brands like Cartier and Bulgari, which already have a foothold in India, are looking to expand their reach beyond major cities like Delhi and Mumbai into emerging luxury markets such as Bengaluru and Hyderabad, where wealth is rapidly increasing.
Raahuul Kapoor, founding partner and chairman of Luxury Ampersand Frolics Group, noted, “Global high jewellery houses are making a calculated and compelling entry into the local market. They offer authentic and contemporary designs that resonate with the new generation of luxury buyers.” However, these international brands will face competition from established local jewellers like Tanishq (by Titan) and family-run enterprises such as Kalyan Jewellers, Malabar Gold & Diamonds, and Senco Gold & Diamonds. These incumbents have deep-rooted connections to traditional craftsmanship, local trust, and extensive networks.
Despite the competition, the potential for growth in the Indian market is significant. Research firm IMARC projects that the country’s retail jewellery market will nearly double from approximately $80 billion in 2024 to $150 billion by 2033, reflecting the increasing affluence in the nation. A report by McKinsey and The Business of Fashion estimates that India’s ultra-high-net-worth individual (UHNWI) population, defined as those with a net worth of at least $30 million, is expected to grow by 50% from 2023 to 2028, the fastest rate globally.
Priya Kapur, a 35-year-old architect from Delhi, recently purchased a ₹4.4 lakh Cartier ‘Love’ pendant necklace from the brand’s boutique in DLF’s Emporio mall. She expressed satisfaction with the modern design and the assurance of authenticity. Pushpa Bector, senior executive director and business head of DLF Retail, highlighted the growing interest in branded jewellery at their luxury malls, noting that many young Indians are making their first significant purchases in the form of wedding bands and engagement rings, which are often seen as statement pieces. Even the younger generation, including Gen Alpha, is emerging as a new buying cohort.
In conclusion, the entry of high-end jewellery brands into the Indian market signifies a shift in consumer preferences and the growing demand for luxury items. As these global brands establish their presence, they will need to navigate a competitive landscape while appealing to a new generation of affluent buyers.
**FAQ**
**Q: What luxury brands are entering the Indian market?**
A: Notable luxury brands entering India include Van Cleef & Arpels, Chaumet, Chopard, and Buccellati, alongside established names like Cartier and Bulgari expanding their reach.
