1 week Ago
India's luxury watch market is booming in 2024, defying global trends and experiencing record demand even in smaller cities, according to a ToI report. Sales are up significantly for high-end brands, costing from several lakhs to over a crore rupees. This growth contrasts with weakening sales in China, a key market for luxury goods.
ET Year-end Special Reads Stocks to buy in 2025: 66 ideas from top brokerages for your new year portfolio What does 2025 hold for India's IT services sector? 2025 may be the year of EVs in India, dominated by SUV launches Retailers and brand representatives confirm the trend. Viraal Rajan, director of Time Avenue, stated, “This growth reflects a strong recovery in consumer confidence and spending. The demand for luxury timepieces has not only returned (to pre-Covid levels) but has also expanded, showcasing a renewed appreciation for craftsmanship and heritage.
” Some brands are even facing supply shortages due to the high demand. India's growing affluent class fuels this surge, even prompting some brands to re-enter the Indian market. The upcoming reduction in import duties on Swiss watches, thanks to a trade pact, is expected to further boost sales.
The increased spending is not limited to watches. Neeraj Walia, MD & CEO of Montblanc India , noted, “There is a surge towards purchase of not only our writing instruments, but we are seeing an equally strong traction for watches and leather products. The average selling price is going up, and we have buyers for special editions.
” International brands are also experiencing this positive trend. Rado's Global CEO, Adrian Bosshard, said 2024 will be a "record year" for the brand in India despite global economic challenges. Retailers Art of Time report that some brands saw a 30% growth in sales.
Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd. View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Office Productivity Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.
e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program The demand extends beyond major metropolitan areas. Ethos Watch Boutique CEO, Pranav Saboo, highlighted rising sales in cities like Mangalore, Raipur, Indore, Kochi, Guwahati, and Siliguri. He attributes this to "aspirational consumption" and competitive pricing within India.
Similarly, FM International Watches & Jewellery notes growing demand in Pune, Ahmedabad, and Lucknow, with Coimbatore, Ludhiana, and Nagpur emerging as potential markets. Increased access through e-commerce also contributes to this expansion. (with ToI inputs) (You can now subscribe to our Economic Times WhatsApp channel ).
