Chopard to Strengthen India Presence with Two New Luxury Jewellery Boutiques by 2026

Two new stores are scheduled to open in India next year as part of the Swiss luxury brand Chopard's efforts to increase its high jewellery presence in the nation, according to a company executive. India has a rich cultural heritage in jewels, according to Caroline Scheufele, co-president and artistic director of Chopard, who spoke to Business Standard.

History demonstrates that the maharajas wore more jewels than ladies. The size of Indian weddings never ceases to astound me! Amazing gold and jewels can be found in India. The market has therefore been around for a very long period. However, Indians are increasingly turning to aspirational designs rather than the traditional use of gold, Scheufele added further.

Scheufele Exploring Jewellery Pockets of India

Scheufele is on a weeklong vacation to India, where she will meet jewellery makers in Jaipur. Indians are learning about foreign brands, she continued, and now is the ideal time for Chopard to launch more high-end, branded jewellery. In addition to having many distribution partners, the company intends to grow by launching two upscale boutiques in Mumbai and New Delhi the following year.

Scheufele explained that the global luxury market is changing, which is why the brand selected India. Chopard is well-known in markets in Western Asia, Europe, and America. Thus, this is undoubtedly Chopard's next move. Although the brand has a history here from years of selling watches in stores, a lot has changed in the previous few years. A whole new generation has emerged that is highly ambitious.

Chopard Exploring India’s Online Market

In order to serve the nation's youthful, aspirational consumer base, the brand is also seeking to launch online operations. Scheufele stated, "I'm definitely inspired by Indian art, and the hope to collaborate with Indian designers is always there," in reference to working with Indian designers. India is turning into a very profitable market for luxury branded jewels.

The country is expected to make it into the top 10 lists for the brand within the next two to three years, according to Laura Burdese, the deputy chief executive officer at Bvlgari, who recently spoke with Business Standard. In 2024, there were approximately 85,698 people in India with net worths of above $10 million, according to Knight Frank Research.