Titan: Demand for luxury watches to rise in India

First published: 03-02-2010

While high-end watches have mixed fortunes over here in the UK, it seems that the Indian market predicts nothing but growth similar to that found in Europe following the millennium, according to a new report from the nation.

The Business Standard spoke to a range of commentators and sellers, trying to address the massive boom in the trade that has seen high-end luxury watch brands growing by 20 to 22 per cent, while less expensive options have registered seven to eight per cent growth.

Chief executive officer of Titan Harish Bhat said that it has been targeting more stylish, rich customers in the area, adding: "In future, if the trend continues, which is very likely, we will introduce many innovative and stylish brands to meet consumers' demand."

G S Kannan, managing director of the Timex Group, added: "Call it an impact of a growing economy - India's luxury watch demand today is much higher than that of the global level."

Titan recently announced the creation of the Experience Zone, which aims to demonstrate five facets of the company's watch trade: immersion; reflection; engagement; conversation; and delivery.