Kolkata: Riding on the growth of India’s luxury jewellery market, Titan Company’s high-end brand Zoya is targeting revenue of ₹500 crore by FY27, banking on rising demand for exclusive, design-led jewellery among high-net-worth individuals (HNIs). The brand is growing at a compound annual growth rate (CAGR) of 30%, said Arun Narayan, CEO, jewellery division, Titan Company Limited.
India’s luxury jewellery market is growing at an annual rate of 16%, creating opportunities for brands catering to affluent consumers seeking exclusivity, craftsmanship and distinctive designs. Zoya, which specialises in fine jewellery featuring coloured gemstones, is positioning itself at the premium end of the market, targeting women who view jewellery as an expression of individuality and personal style.
With prices starting at ₹85,000 and going up to ₹2.5 crore for a single piece, Zoya operates across a wide price spectrum within the luxury segment. Its focus on coloured gemstones and intricate craftsmanship differentiates it from mainstream jewellery brands, where gold and diamonds remain central to consumer purchases.
The brand’s strategy centres on catering to a discerning clientele looking beyond conventional jewellery for distinctive pieces. Coloured gemstones offer scope for differentiated designs, while the emphasis on craftsmanship and exclusivity helps Zoya appeal to consumers seeking jewellery that stands apart from mass-market offerings.
The expansion of India’s affluent consumer base and evolving preferences are creating opportunities for specialised luxury jewellery brands. While traditional jewellery purchases are often linked to weddings, festivals and investment considerations, luxury brands are also seeking to tap demand for self-purchase, personal milestones and occasion-led buying.
For Zoya, the challenge will be to scale its business while retaining the exclusivity that underpins its positioning. Unlike mass-premium jewellery brands that rely on wider distribution and volumes, luxury labels need to balance growth with design differentiation, personalised customer experiences and distinctive creations.
The ₹500-crore target would mark a significant milestone for Zoya as it seeks to strengthen its position in India’s expanding luxury jewellery market. Its ability to attract new affluent consumers while deepening relationships with existing clients will be key to sustaining growth in a segment where purchase decisions are driven as much by design, craftsmanship and brand identity as by the intrinsic value of the materials used.
