‘Jewellery touches life more than figurines'

Swarovski is raising the profile of its jewellery business in India. Increasingly, the products on offer in its consumer goods business comprise more jewellery than figurines, the former accounting for 70 per cent of the SKUs (stock-keeping units) now.

Speaking to Business Line here, Ms Sukanya Dutta Roy, Director, Consumer Goods Business, Swarovski India, said the brand is very well-positioned in India – as high-value and luxury, but with premium pricing. Jewellery prices start at Rs 2,000 and figurines/collectibles start at Rs 5,000.

Collectibles vs. Jewellery

“Collectibles will always be there, by virtue of the place they find in consumers' minds, but jewellery touches life much more, directly. Also, most people aren't at home long enough to enjoy the beauty of the collectibles they buy,” says Ms Dutta Roy. The bulk of the jewellery sold is in the Rs 5,000-10,000 range, mostly subtle and classic pieces, but there is a growing acceptance of larger and colourful items, she said. Pendants and rings sell the most, she said.

As fusion apparel gets accepted even at traditional events such as weddings, so does fashion jewellery, she said, adding that “Swarovski is growing younger, as its customers do”.

Younger customers

Most of the customers are in the 15-40 year age group. There is a small range of men's jewellery too.

India now contributes three per cent to the Austria-based €2.6-billion Swarovski's consumer goods business.

It now has 30 boutiques in the major cities, a number expected to go up to 60 by 2015. The outlook for the India business is very bullish, Ms Dutta Roy said.

The company also has a big business in crystal components/embellishments, called Elements, and in high-end binoculars and road safety products.

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