Rs 2-crore timepieces arrive in India
For all those who have a penchant for hi-end luxury brands, the entry of Germany's A Lange & Sohne into Indian luxury watch market is surely going to be a great treat, reports Varun Soni.india Updated: Jan 07, 2008 22:56 IST
Fancy, buying a watch worth Rs 2 crore? Preposterous? Maybe to you, but there is a sizeable section of the Indian populace today that has a penchant for hi-end luxury brands and does not mind spending a few crores for it.
One such luxury watch brand that is going to make its entry into India later this month is Germany’s A Lange & Sohne. Its mechanical timepieces (comprising 25 different calibers) start at Rs 7 lakhs and will be retailed from exclusive outlets in Delhi and Mumbai, the names of which it will announce during its launch in the third week of January.
The Indian luxury watch market is estimated to be approximately Rs 600 crores, growing at the rate of 10% a year. Already, a number of international watch brands like Cartier, Baume & Mercier, Jaeger-LeCoultre, Piaget, Longines, Tissot, Bvlgari, Tag Heuer, Louis Vuitton, Mont Blanc etc. have entered India, but the prices were never this heavy. For, in terms of price, A Lange definitely takes the cake.
“The brand maintains its exclusivity by producing only 5,000 watches a year globally, a reason why we do not retail from too many places as well. Given the demographics of India – home to 60,000 billionaires, 30 million millionaires and 300 million strong middle class – brands like A Lange are surely going to be a treat for the connoisseur,” says Sukaiyna Gokal, Brand Manager, A Lange & Sohne.
For watches are no longer timepieces, but are more of fashion accessories.