For crystal gazing one has to drag out a crystal ball.
The lavish crystal bazaar in India will be close to Rs400 crore by 2007 growing at 100 percent in the next three years. Swarovski, Daum, Lalique and Baccarat are the dominant in global luxury crystal collectibles market.
In India Swarovski and Daum are the only two companies that operate at present in the retail space.
However, both Lalique and Baccarat are looking to enter Indian market soon.
Crystal retail in India has come a extensive way from the meandering lanes of Gaffar market in Delhi, Hira Panna in Mumbai and AC market in Kolkata.
Swarovski and Daum now looking at luring the Indian consumer with immediate worldwide launch.
While Swarovski is targeting 30 more points of sale by 2008, Daum is inspired by the reputation of its crystal figurines of Ganesha, Radha-Krishna, and Lakshmi etc.
All luxury crystal houses has its trademark, while Swarovski is famous for its faceted fine cutting, Daum is boasts of colored crystal.
Lal-ique and Baccarat, on the other hand have mastered the art of frosted crystal and clear crystal respectively. Shiv Kumar, country manager Swarovski India, said they have realized that they are addressing a global Indian consumer so everything needs to be standardized.
Equivalence means similar prices that it charges in markets in Europe and Dubai.
Mridu Mohta operational head Ganga Expressions said, the fastest growing segment is that of home accessories.
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