Leading global jewelry brand, Swarovski has announced the formation of a new operation model for its key emerging market cluster – South East Asia and India (INSEA). The new organizational structure will enhance management synergy across markets, resulting in a multi-dimensional approach to evolving market potential, innovation and development, and consumer strategy.
Aymeric Lacroix, current Managing Director, Consumer Goods Business, Swarovski, Southeast Asia will head the management for India & South-East Asia. Taking over the leadership and development of Swarovski’s INSEA business, Lacroix will play a key role in meeting the company’s ambitious goals by unleashing the market potential of India.
Speaking on this development, he says, “Swarovski Consumer Goods Business has enjoyed phenomenal recognition and strong consumer acceptance in the jewelry segment since our arrival in India in 2003. Given the promising market projections, I look forward to exploring exciting opportunities in this beautiful country, and reinventing our retail and marketing strategy for new challenges in the coming years.”
Lacroix brings with him over 13 years of retail leadership experience and industry expertise. After his Master’s degree from Skema Business School and an early career at Bulgari and Ralph Lauren, Lacroix joined Swarovski in 2005 and successfully became a vital asset with his contribution to Swarovski’s global expansion. After serving at markets such as France, Central Europe, Eastern Europe and Scandinavia, Lacroix then has been in various senior and leadership positions in Asia. He recently completed his EMBA from INSEAD.
He also added about the jewelry market in India, “The Indian jewelry market is witnessing a rapid growth in the past few years, with an estimate to cross €92 billion by 2022. A sharp rise in the jewelry market in India is expected because of factors like social media awareness, expansion of the middle class, increase in smartphone users and Internet penetration and growing popularity of omni-channels among players.
The rapidly growing €135 million fashion jewelry market in India will double up in the next 4 years owing to widespread distribution and the e-commerce wave. Swarovski aims to dominate the branded fashion jewelry market in India with a stronghold on distribution and consistent growth”.