8 Reasons Why Watch Brands in India are Gaining Popularity Among Global Customers
Business APAC
Our Magazine Covers the stories of successful businesses operating in Asia Pacific Region
What comes to your mind when you think of watches? You might think of Swiss, Japanese, or American brands, but there is a new contender in the global watch market: watch brands in India.
Indian watchmaking is very old. But people liked foreign watches more. Now, things are different. Indian watchmakers are making great watches. They use quality, innovation, and culture.
Indian watch brands are gaining popularity among global customers for several reasons. They offer a unique blend of tradition and modernity, reflecting India’s rich and diverse culture. The brands showcase the best of Indian craftsmanship, using local materials, handcrafted techniques, and innovative features. They also cater to different tastes and preferences, offering a wide range of styles, prices, and functionalities.
The Indian watch market is projected to grow at a CAGR of 20.3% from 2024 to 2029, reaching USD 2.3 Bn by 2029. The per capita revenue in India for 2024 is expected to be USD 1.37, compared to USD 19.02 in China. Wristwatches dominate the Indian timepiece market, accounting for around 80%. Online sales are booming, capturing a 54% revenue share in 2024.
In this blog post, we will explore these reasons in detail and show you why watch brands in India are worth your attention and admiration.
Let’s have a look at those 8 reasons why Watch Brands in India are gaining popularity.
1. Craftsmanship and Quality
Indian watchmakers use high-quality materials, such as stainless steel, titanium, gold, silver, and gemstones, to create durable and elegant watches. They also employ meticulous craftsmanship, such as hand-engraving, enameling, and skeletonizing, to add intricate details and beauty to their watches.
Indian watch brands are not only aesthetically pleasing but also technically proficient. They use reliable and accurate movements, such as quartz, mechanical, and automatic, to power their watches. They also add advanced features. For example, chronographs, moon phases, and perpetual calendars. These features make their watches more functional and complex.
Indian watch brands are not inferior to the established players in the market, such as Swiss, Japanese, and German brands. In fact, some of them have won international awards and recognition for their watchmaking excellence. For example, Titan, the largest watch brand in India, has won the Red Dot Design Award and the iF Design Award for its innovative and elegant watches. Jaipur Watch Company is another example. It won two awards for its watches. They are exquisite and unique.
Research and Markets says the Indian watch market will grow. It will grow by 13.4% every year until 2025. People want premium and luxury watches more.
2. Design Innovation
Indian watch brands have a unique design aesthetic, blending tradition with modern trends. They draw inspiration from the rich and diverse Indian culture, art, and mythology, and reflect them in their watch designs.
For example, Nebula is a luxury watch brand. It is from Titan. Its watches have Mughal and Rajput designs. Bangalore Watch Company is another example. Its watches have Indian Air Force themes. Aiqon Watches is one more example. Its watches have Indian Gods and Goddesses symbols and colors.
领英推荐
Indian watch brands please their customers. They offer a variety of styles, sizes, shapes, and colors. They also offer personalized options, such as engraving, monogramming, and customizing, to make their watches more unique and special.
A survey by Deloitte revealed that 72% of Indian consumers prefer to buy products that reflect their personality and values.
3. Value Proposition
Indian watch brands offer competitive pricing, compared to the luxury brands in the market. They also offer unique value propositions, such as limited editions, exclusive collections, and social causes, to differentiate themselves from the crowd.
For example, HMT, the oldest watch brand in India, offers limited edition watches that are highly sought after by collectors and enthusiasts. Another example is Ethos, a multi-brand watch retailer, which offers exclusive collections of watches from various international brands, such as Omega, Rolex, and Tag Heuer, at attractive prices. Yet another example is Fastrack, a youth-oriented watch brand, which supports social causes, such as LGBTQ+ rights, environmental awareness, and women empowerment, through its watches and campaigns.
Indian watch brands are also accessible to global customers, through online platforms and international distribution channels. They have a strong online presence, with user-friendly websites, social media accounts, and blogs, where they showcase their products, stories, and reviews. They also have a wide network of distributors, retailers, and service centers, across the world, where they deliver their products and services.
Statista says online watch sales in India will grow. They will reach 1.2 billion USD by 2025. They will grow 19.6% every year from 2020.
4. Cultural Tapestry
India is a land of many cultures, languages, religions, and traditions. Each region has its own unique identity and heritage. Indian watch brands are tapping into this cultural tapestry to create watches that celebrate the diversity and beauty of India.
For example, Jaipur Watch Company creates watches that feature coins, motifs, and symbols from different eras of Indian history. The Mughal Empire, the British Raj, the princely states, and modern India inspire their watches. Each watch tells a story of India’s glorious past and present. According to their website, they have sold over 10,000 watches to customers in over 25 countries.
Another example is Bangalore Watch Company, which pays homage to the cosmopolitan and progressive city of Bangalore. The city’s identity comes from aviation, military, and space. They influence their watches. They make watches for urban and sophisticated customers. They like quality and craftsmanship. According to a report by Economic Times, they have grown by 300% in the last two years.
These brands are using storytelling to connect with their customers emotionally. They are not just selling watches, they are selling a piece of India’s culture. This resonates with global audiences who are looking for authenticity and diversity in their choices.