Record Sales for Luxury Watches in India

Despite the global economic slowdown, luxury watches are experiencing a surge in demand across India, including in tier-2 and tier-3 cities. Brands such as Rolex, Breitling, and Omega have seen significant growth in sales, with prices ranging from a few lakh to over a crore rupees.

Consumer Confidence and Spending on the Rise

"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," says Viraal Rajan, director of Time Avenue.

Emerging Markets and Competitive Pricing

Cities like Mangalore, Raipur, and Indore are emerging as significant contributors to growth. Competitive pricing within India is prompting people to buy luxury watches locally, making them more accessible to a broader audience.