The new found ultra-luxury consumption in India has been ringing right across and Swiss watch makers
Audemars Piguet is just one of the many to cash in with its recent India debut. One of the most exclusive brands among luxury watches, Piguet is opening two boutiques in Delhi and Mumbai. It plans to release six limited edition watches with only 300 pieces in retail. The price tag being between Rs 72 lakh and Rs 2 crores. Cricket legend Sachin Tendulkar is the brand’s face in India.
Luxury timepieces have become a big avenue of growth in India where the Rs 1,300 crores luxury watch segment has shown a healthy growth. Another watch brand, Timex has spruced up its act as well. It roped in veteran designer Tarun Tahiliani to launch luxury timepieces. Tahiliani says creating these jeweled timepieces was a natural progression. These watches are above premium and accessible luxury. They will be available in all Tarun Tahiliani stores, multi-brand stores like Ensemble and select Timex point of sales. The launch collection will have 14 exclusive timepieces. Tahiliani says he would like to take this creation to West Asia and beyond.
Luxury Swiss watch brand Raymond Weil has also set up an Indian subsidiary. The company expects India to contribute up to 7 per cent to the company’s global sales by 2010 end. Oliver Bernheim, CEO and President, Raymond Weil Watches says that India is a market that doesn’t stop being interested by new developments. And as Matthieu Dupont, brand manager (West Asia & India), A Lange & Sohne says most of the iconic timepieces are pre-sold due to their exclusivity and a deep client understanding of the product. Certain product lines such as the Lange 1, Turbograph or even Zeitwerks have a waiting list of many months, even a year. Indian consumers are willing to pay for high end, hand-made and exclusive watch making”.