Swarovski reported a 20% year-on-year increase in India and anticipates this trend to continue in the future years. Nasr Sleiman, the company’s managing director for Southeast Asia, India, and the Middle East, described India as a “rocket market” with enormous potential for expansion. The company is focusing on an omni-channel approach for growth, with particular success in the watch category, which has the biggest market share in Asia.
Swarovski is also pushing lab-grown diamonds, a fast expanding area, as part of its global strategy. The company intends to educate consumers on the cost and sustainability of lab-grown diamonds.
Swarovski now has 70 exclusive outlets and over 200 multi-brand locations in India, and expects to launch 7-10 new stores across multiple sales channels next year.