India is a country 1.25 billion people...where youngsters with big dreams high aspiration accounts for more than 60% of the total population. India is a positively unique market situation for all the brands and categories which are targeting youngsters.
India where approx.
-65% population is below 35 years of age;
-50% of
Population is below 25 years of age;
-20% of them between 15-24 years of age;
- 20 million youth
residing in top 100 cities:
Watches, as a category has seen huge ups and downs over the years... from a highly aspirational product category.... to a category which was considered once irrelevant after the launch of mobile phones...to again getting back its statuesque and becoming a highly desired category for youngsters now.
If we look at Indian Context.
We saw the emergence of some highly popular brands like Maxima,Titan,Fastrack Timex,Casio, Citizen over the last 10-15 years. Prior to that HMT, Allwyn Quartz etc. were there but all those watch brands of pre-90's lost their sheen and are almost erased from the memory of Indian people.
Top brands ruling Indian Market these days are-
1) Titan (A Tata Group Company)-
Undisputed king of Indian Watch Industry with close to 65% market share if all brands are put together... they have taught Indian brands the art of segmentation... they have created brands for each and every segment of the market.
2)Fastrack (A Tata Brand)
Highly Popular Watch Brand from Titan Group. It rules the mind of youngsters and teenagers. It has recreated the lost chemistry between watches and youth. They one of the driving force of Indian Watch Industry.They have launched other categories like eyegear,bags etc.
3) Maxima (A Brand from P A Time Industries)
India's Only Waterproof Watch Brand... has seen tremendous fan following in recent years after they launched their trendy youth watches collection attivo watches and Ssteele watches. they are the only brand after titan which has a loyal consumer base in India and can be found in every nooks and corners of the country. Their men's watches are as good in quality but almost half the price if compared with other mainline brands, this could be a big reason their success in Indian Price Sensitive Market.
4) Sonata(A Tata Brand)
It is an economy watch brand from Tata Group...they are known for its highly popular low cost fiber& Plastic watches called super fiber. This brand was launched to curb the influence of highly growing Chinese and grey market. This brand has been successfully resisted the rise of grey market products and low quality Chinese products with very aggressive pricing
5) Casio (Brand of CASIO India)
This Japanese brand has seen tremendous growth in last 3 years. It has virtually replaced once very popular brand Timex from the watch stores. Still miles to go to catch up with brands like Sonata,Maxima or Fastrack. They are a bit expensive for indian market this could be a reason they look
stagnant now. Except Edifice nothing look like working for them but they are here to stay.
Apart from above watch brands there are few more brands which are slowly making its presence felt...these brands are Q&Q from Citizen,Giordano,Timex is again crawling back to their old glory but still restricted a lot to their own stores.
Swiss brands are growing in value but still not significant enough for Indian Watch market considering their market is restricted to few top cities only.
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Where is HMT?
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