Global brands must navigate a jewellery market dominated by local giants with nationwide store networks looking to expand overseas and acquire domestic rivals.

Reliance Industries and Tata Group have launched multi-brand beauty retailers Tira and Tata Cliq Palette respectively in a challenge to incumbents like Nykaa, Purplle and Sephora.

Industry leaders are divided on whether Galeries Lafayette’s expansion into India will spur other luxury department stores to enter the rapidly growing market.

Brands like Dior and Valentino are banking on India’s high growth potential, but it will take more than dazzling shows and sleek stores to turn this complex market into a major revenue source.