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The Watch Industry in India

The Watch Industry in India

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The Watch Industry in India

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  1. The Watch Industry in India Presented By: AayushJaiswal DebarnikBiswas GauravBhattacherjee Nikita Shroff

  2. Agenda • History of Watch Industry • HMT Watches Limited • Titan Industries • Watch industry market • Prospects • Threats for Watch Industry

  3. History of watch industry • Earlier watches were not only used for time keeping but measuring direction while sailing or mobilizing in a war • Wristwatch is considered as much of a status symbol as a device to tell time • Cell phones and digital pagers display tiny quartz clocks • First watch industry of India, HMT launched Janatamodel in the year 1962 • HMT was the leader in the watch market till the Tata’s formed Titan Watches in association with Tamil Nadu Industrial Development Corporation in the year 1987 • Titan was the first company to launch quartz watches in India

  4. HMT Watches Limited • Hindustan Machine Tools was incorporated in 1953 by the Government of India • HMT is headquartered at Bengaluru ( Bangalore ) • In the year 1961, HMT set up a watch manufacturing Unit at Bangalore in collaboration with M/s Citizen Watch Co., Japan • In-house R&D • In1985, HMT Watches has been involved in making Floral Clocks, Solar Clocks, International Clocks and Tower Clock

  5. Titan Industries • Titan was established in 1984 • It’s a joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation (TIDCO) • Titan is the world's fifth largest wrist watch manufacturer • Exports watches to nearly 32 countries around the world • Brands of Titan include Fastrack, Sonata, Raga, Edge, Octane, Xylys, Titan Eye+ and Tanishq, Goldplus, Zoya • Titan formed a joint venture with Timex Group, which lasted until 1998, to set up a distribution network across India • As of 2013, Titan watches account for more than 60 % share of the total Indian market

  6. Watch industry market • Indian Watch Industry Touches Rs 70000Cr. • Indian watch market is today of 40 million units • 60% of this are the unorganized sector in which the maximum number of watches are sold below Rs.300 (mid segment) • Quartz watches form two third of the organized sector and the rest is split between mechanical and digital watches

  7. Watch industry market Continues… • In the organized sector, three fourth of the sales by volume comes from watches that are priced below Rs.1000 (affordable luxurysegment) • 150 stores are now retailing multi brand watches above Rs 10,000 (luxury and super luxurysegment) • 50 stores that are retailing brands above Rs 50,000 (Premium segment)

  8. Prospects • 70,000 million Industry and still booming • Industry is growing @ 8 to 10 % • Expected to grow @12 to 15 % in next few years • Young income group is growing (80% of population below 45) • Retail sector is on boom (people prefer buying watches from malls and organized sectors) • Increased awareness and brand consciousness • Newly Positioned as a Lifestyle Accessory will be benefitted from the booming online industry

  9. Threats for Watch Industry • Penetration only 27% (least when compared globally) • Market is dominated by International Players • Only 3.5% of the population owns multiple watches • Stringent government regulation • Large unorganized market • 90% of the watches are low priced • Few Domestic players in the Luxury segment

  10. THANK YOU