(indiatimes.com/Bloomberg): India’s expected surge of rich consumers is driving the jewelry unit of Indian conglomerate Tata Group to triple its Zoya-branded luxury stores by 2027. “There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of the jewelry division at Titan Co., said in an interview. “This is just the beginning for luxury.” Titan, India’s biggest jeweler, gets about 90% of its revenue from the sale of jewelry and the rest from watches, eyewear and perfumes. It has four jewelry brands under its umbrella: flagship Tanishq, working women-focused Mia, online sales portal Caratlane, and Zoya, which is aimed at rich customers.
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