Shilpa Dhamija

India has reduced import duties on Swiss watches from 22% to about 15%, under a special trade agreement. Industry leaders in both Switzerland and India reveal how this may impact the growth of the Swiss watch market in India.

China has overtaken the U.S. as home to the world’s largest billionaire population. Despite slow economic growth and the persisting real-estate downturn, China added 287 billionaires in the last one year, bringing its count to 1110. In comparison, the U.S. added only 130 new billionaires, reaching a total of 1,000, according to a wealth report by Hurun research firm.

Gold’s record rally ($5,080 per ounce on January 26, 2026) is softening jewellery sales in top markets – India and China. As consumers prioritise investment over adornment, how are local jewellers pivoting to keep shoppers engaged?

Months after facing criticism for lifting the design of India’s traditional Kolhapuri Chappal (sandal), Prada has formally announced a limited edition collection of sandals inspired by it

: India’s diamond manufacturing industry is under unprecedented strain. Exports are falling and jobs are at risk after the U.S., its biggest buyer, slapped 50% tariffs a month ago with no signs of easing. But is this only India’s problem? How will it impact diamond prices in the U.S?

The Trump organisation has announced its first luxury project in Australia worth about $1.06 billion (AU$1.5 billion)

China’s personal luxury goods market is poised to improve in 2026, building on encouraging momentum from late 2025. According to a report by Bain & Co., uneven category performances and rising appeal of local brands will shape this recovery.

L’Oréal is set to build its first ever beauty tech hub in India with an initial investment of approximately €326 million and will serve as the French beauty giant’s global flagship base for AI-driven beauty innovations. It is expected to be inaugurated later this year in Hyderabad, the capital city of Telangana state in south India.

India’s rising wealthy population offers great growth opportunities for the luxury industry, but scaling here isn’t easy. While most categories struggle with structural hurdles, the luxury auto segment has raced ahead. What can the luxury industry learn from its success?

The global UHNW (ultra-high-net-wealth) population, defined by individuals worth $30 million or more, grew by 6.5% in the first half of 2025 to 0.51 million people, according to a latest Altrata wealth report. This cohort now holds a combined wealth of $60 trillion, about twice the U.S. annual GDP (Gross Domestic Product.)

Estée Lauder is set to acquire Forest Essentials, an Indian prestige Ayurvedic beauty and skincare brand to strengthen its presence in India’s fast emerging prestige and luxury beauty market.

India and the EU have concluded negotiations on a long-awaited Free Trade Agreement (FTA). The deal reduces import duties on key luxury items for both parties, ranging from high-end cars to jewellery.

Hulcan, a luxury group founded by millennial entrepreneurs Joe Wilkinson and Mario Maher has acquired British luxury fashion retailer, Matches, along with its in-house label Raey from Fraser group for an undisclosed amount. Matches will relaunch in 2026.

Galeries Lafayette has inaugurated last night, 15th October, its first India store just ahead of the country’s auspicious wedding season. Located in Mumbai’s upscale southern district, the Parisian department store is spread across 8,000 sq. m (about 90,000 sq. ft), housed in a 200-year-old heritage building, refurbished by London-based architectural firm Virgile Partners. The store will open for customers, officially end of November.

India is set to see a boom in luxury spending as it overhauls domestic taxes for the first time in 8 years. Taxes on all luxury cars are reduced, while luxury watches dodge an anticipated tax hike.