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13 Σεπ 2024 · And it’s not us saying this, but a recent report from Knight Frank that ranked luxury watches as the top investment choice for super-rich Indians in 2023, even surpassing art. And a Deloitte survey shows that the preference of discretionary spending is also driving young consumers to invest in these timepieces.
21 Οκτ 2022 · The Federation of Swiss Watch Industry report says that exports to India went up by 61.7 per cent in 2021. Furthermore, a forecast report by Statista says the luxury goods market in India would be worth $7.52 billion in 2022. The ‘Luxury Watches & Jewellery’ segment is the largest contributor to this with a market volume of $2.21 billion.
Some of the major brands offering luxury watches in India include Rolex, Omega, Rado, and Tissot. Due to the increasing demand, other companies have identified the potential and invested in expanding their product portfolio to strengthen their position in the market.
Analysts predict India is on pace to join the top 10 luxury watch markets within 5 years. A Deloitte report projects the market value could reach 400 million francs by 2028. Surveys indicate strong interest among Indian consumers, with 94% expressing a desire to own luxury watches.
The Luxury Watches market in India is projected to grow by 1.24% (2024-2029) resulting in a market volume of US$2.85bn in 2029.
26 Μαΐ 2022 · Want to understand the Indian luxury market? Michael Kors is a good brand to consider, illustrating the huge potential for so-called bridge-to-luxury (BTL) brands in India, according to Atlas of Affluence, a major new report based on consumer research across six cities.
3. Consumers aspire to luxury For Indian consumers, luxury is synonymous with “experience” – the most frequently shopped luxury categories are travel and experiences, followed by home lifestyle. However, fashion items, jewellery and watches are also very popular, as luxury is also seen as a form of self-expression and indulgence. In the
