Mumbai: Why would a high-end Swiss luxury watch brand choose to enter the Indian market to sell just 5-6 watches each year, when they could easily sell their limited production of 150-160 handmade pieces in the US, Europe, or the Middle East, where demand amongst collectors is strong?
“We see the Indian market as a maturing one, ripe for our unique timepieces. India boasts a strong community of collectors, making it an ideal space for us to introduce our brand. We firmly believe that now is the opportune moment for independent brands like ours to establish a presence in India, as Indian watch collectors are asking for uniqueness,” said Vahe Vartzbed, head of independent Swiss luxury watchmaker HYT, about his strategic choice.
As major Swiss luxury watchmakers turn towards India, smaller independent brands like HYT are also establishing a presence to tap into the market’s potential and engage with the collector community.
“We’re fortunate to have the freedom to chart our own course. Being independent, we can focus on continually elevating the craftsmanship of our timepieces, with increased decorative elements and the addition of small complications,” said Vartzbed.
Viraal Rajan, director, Time Avenue, exclusive partners of HYT in India, said the challenge nowadays lies on the production side for independent watchmakers because consumers seek more than just timekeeping functionality.
“It’s about owning something unique and beautiful, crafted with passion and individuality. Mass production struggles to meet this demand for distinctiveness,” he said.
The company, renowned for its innovative fluid-based time display, will be offering watches priced at ₹45 lakh -₹4.6 crore in India.
