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.
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.
5. Sustainability and Ethics
Another aspect of the Indian brand story is the commitment to sustainability and ethics. Many Indian watch brands are conscious of their environmental and social impact. They are adopting sustainable practices and ethical sourcing to reduce their carbon footprint and support local communities.
For instance, Titan, one of the largest and most popular watch brands in India, has launched a range of eco-friendly watches called Titan WE. These watches are made from recycled materials such as PET bottles, fabric scraps, and metal waste. They are also powered by solar energy, which eliminates the need for batteries. Titan WE aims to promote a circular economy and a greener lifestyle. According to their website, they have saved over 1.5 million PET bottles from landfills and oceans.
Similarly, HMT, the iconic state-owned watch brand that was once synonymous with India’s industrialization, has revived its legacy with a social cause. HMT has partnered with the Khadi and Village Industries Commission (KVIC), a government agency that promotes rural industries, to produce watches with Khadi straps.
Khadi is a hand-spun and hand-woven fabric that is associated with India’s freedom movement. It reflects Gandhi’s philosophy of self-reliance. HMT-Khadi watches are meant to support rural artisans. Also, it is done to revive the khadi industry. According to a report by Business Standard, they have sold over 20,000 watches in the first year of launch.
These brands are appealing to environmentally conscious consumers worldwide who value sustainability and ethics. They are demonstrating that they care about the planet and the people. They are setting an example for other watch brands to follow.
6. Community and Collaboration
The third aspect of the Indian brand story is the community and collaboration. The Indian watchmaking community is a vibrant and supportive one. The brands are not competing with each other, but rather collaborating and learning from each other. They are also building strong relationships with their customers through events, workshops, and online communities.
For example, Machino, a young and innovative watch brand based in Mumbai, organizes regular events and workshops for watch enthusiasts and aspiring watchmakers. They invite experts and mentors to share their knowledge and skills with the participants. They also encourage feedback and suggestions from their customers to improve their products and services. According to their website, they have over 5,000 members in their online community.
Another example is Horpa, a luxury watch brand that specializes in bespoke and customized watches. Horpa has a loyal and engaged customer base that is involved in every stage of the watchmaking process. They allow their customers to choose the materials, colors, designs, and features of their watches. They also invite their customers to visit their workshop and witness the craftsmanship and quality of their watches. According to a report by Mint, they have a waiting list of over six months for their watches.
These brands are fostering a sense of community and collaboration among their customers. They are creating a loyal and passionate fan base that advocates for their brands. They are also attracting new customers who are curious about their stories.
7. Challenges and Opportunities
One of the main challenges that watch brands in India face is the lack of brand awareness and recognition in the global market. According to a report by Statista, the Indian watch market accounted for only 1.6% of the global watch market in 2019. Many people are not familiar with the quality and craftsmanship of Indian watches, and they tend to prefer more established and well-known brands from other countries.
However, this also presents a significant opportunity for growth and innovation for Indian watchmakers. By creating unique and distinctive designs, using high-quality materials and technology, and offering competitive prices, watch brands in India can attract more customers and create a loyal fan base. A study by McKinsey found that the demand for luxury watches in India is expected to grow by 13% annually until 2025.
Another opportunity for Indian watchmakers is the increasing demand for smart and hybrid watches, which combine the features of traditional and digital watches. These watches offer more functionality and convenience for the users, such as fitness tracking, notifications, and customization. Indian watch brands can leverage their expertise and creativity to produce smart and hybrid watches that cater to the needs and preferences of global customers.
8. Future Trends and Directions
The future of Indian watchmaking looks bright and promising, as more and more people are becoming aware of and interested in the products and services offered by watch brands in India. Some of the future trends and directions that we can expect to see are:
– More collaboration and partnership between Indian watch brands and other industries, such as fashion, entertainment, and sports, to create cross-promotional and co-branded products that appeal to a wider audience.
– Complete focus on sustainability and social responsibility, as Indian watch brands adopt eco-friendly and ethical practices, such as using recycled and biodegradable materials, supporting local artisans and communities, and donating to charitable causes.
– More innovation and experimentation, as Indian watch brands explore new styles, features, and technologies, such as smartwatches with voice and gesture control, watches with holographic displays, and watches that can change color and shape.
Conclusion
The future of watch brands in India looks bright and promising. According to a recent report forecasts a 9.2% CAGR in the Indian watch market, projecting a growth to USD 3.32 billion by 2025 from 2020. The surge is attributed to rising demands for quality, innovation, and style, from domestic and international customers.
Watch brands in India have a lot to offer to the global market. They have a rich heritage and culture of watchmaking, which reflects the diversity and creativity of the country. Also, they use local materials and techniques, which give their watches a unique and distinctive look and feel. They offer affordable and accessible watches that cater to customers’ different tastes and preferences. They also support social and environmental causes, which makes them responsible and ethical brands.
If you are looking for a new watch that is stylish, functional, and meaningful, you should check out the watch brands in India. You will be amazed by the variety, quality, and beauty of these watches, and you will be supporting a thriving and vibrant industry that is making a positive impact on the world.
So, what are you waiting for? Explore and embrace the world of Indian watchmaking today, and discover why watch brands in India are gaining popularity among global customers.
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