“India is set to dominate the next three to five years, and Franck Muller is͏͏ fully͏͏ committed͏͏ to͏͏ the͏͏ country,”͏͏ stated͏͏ Erol Baliyan,͏͏ MD͏͏ for͏͏ the͏͏ Middle͏͏ East,͏͏ Africa,͏͏ and͏͏ India͏͏ with͏͏ the͏͏ luxury watch brand.
Franck Muller’s͏͏ Upcoming͏͏ Collection͏͏ and͏͏ Real͏͏ Estate͏͏ Ventures:
As͏͏ Diwali͏͏ approaches,͏͏ Franck͏͏ Muller͏͏ aims͏͏ to͏͏ unveil͏͏ its͏͏ third͏͏ India-focused͏͏ collection͏͏ and͏͏ may͏͏ explore͏͏ opportunities͏͏ in͏͏ luxury͏͏ residential͏͏ real͏͏ estate͏͏ in͏͏ the͏͏ future,͏͏ Baliyan͏͏ shared.͏͏ The͏͏ Franck͏͏ Muller͏͏ Aeternitas͏͏ at͏͏ London͏͏ Gate,͏͏ Dubai͏͏ Marina,͏͏ is͏͏ set͏͏ to͏͏ become͏͏ the͏͏ world’s͏͏ tallest͏͏ residential͏͏ clock͏͏ tower,͏͏ boasting͏͏ 106͏͏ floors.
“We͏͏ are͏͏ developing͏͏ an͏͏ exclusive͏͏ project͏͏ featuring͏͏ just͏͏ 108͏͏ handcrafted͏͏ pieces͏͏ for͏͏ India,͏͏ which͏͏ we͏͏ aim͏͏ to͏͏ launch͏͏ before͏͏ Diwali.͏͏ Our͏͏ venture͏͏ into͏͏ real͏͏ estate͏͏ has͏͏ been͏͏ highly͏͏ successful,͏͏ and͏͏ we͏͏ are͏͏ looking͏͏ to͏͏ initiate͏͏ our͏͏ third͏͏ project͏͏ in͏͏ India.͏͏ We͏͏ hope͏͏ to͏͏ see͏͏ a͏͏ Franck͏͏ Muller͏͏ tower͏͏ gracing͏͏ the͏͏ skyline͏͏ in͏͏ the͏͏ future,”͏͏ he͏͏ stated.
Muller͏͏ remarked͏͏ that͏͏ India’s͏͏ economic͏͏ growth͏͏ estimates͏͏ have͏͏ been͏͏ ‘outstanding.’
“And͏͏ with͏͏ China͏͏ declining͏͏ and͏͏ Europe͏͏ facing͏͏ challenges,͏͏ the͏͏ next͏͏ three͏͏ to͏͏ five͏͏ years͏͏ will͏͏ be͏͏ India’s͏͏ time.͏͏ Last͏͏ year,͏͏ India’s͏͏ GDP͏͏ reached͏͏ $3.75͏͏ trillion,”͏͏ he͏͏ stated.
“We͏͏ anticipate͏͏ luxury͏͏ consumption͏͏ to͏͏ reach͏͏ around͏͏ $6.6͏͏ billion,͏͏ yet͏͏ Swiss͏͏ watch͏͏ exports͏͏ to͏͏ India͏͏ amount͏͏ to͏͏ only͏͏ 135͏͏ million͏͏ Swiss͏͏ Francs.͏͏ This͏͏ leaves͏͏ us͏͏ with͏͏ significant͏͏ growth͏͏ potential͏͏ in͏͏ this͏͏ market.͏͏ While͏͏ other͏͏ markets͏͏ are͏͏ performing͏͏ well,͏͏ India͏͏ holds͏͏ enormous͏͏ promise.͏͏ Our͏͏ focus͏͏ is͏͏ entirely͏͏ on͏͏ this͏͏ region,”͏͏ he͏͏ added.
Continue͏͏ Exploring:͏͏ Swiss͏͏ watchmakers bullish͏͏ on͏͏ India’s͏͏ growing͏͏ luxury͏͏ market:͏͏ Deloitte͏͏ Report
Expanding͏͏ Presence͏͏ in͏͏ India:
Franck͏͏ Muller͏͏ has͏͏ opened͏͏ its͏͏ second͏͏ exclusive͏͏ boutique͏͏ in͏͏ India͏͏ in͏͏ Delhi,͏͏ in͏͏ collaboration͏͏ with͏͏ Kapoor͏͏ Watch͏͏ Company,͏͏ and͏͏ now͏͏ has͏͏ a͏͏ presence͏͏ in͏͏ eleven͏͏ sales͏͏ locations͏͏ across͏͏ various͏͏ cities͏͏ in͏͏ India.
“We͏͏ have͏͏ a͏͏ presence͏͏ in͏͏ all͏͏ major͏͏ cities͏͏ and͏͏ may͏͏ consider͏͏ opening͏͏ another͏͏ exclusive͏͏ point͏͏ of͏͏ sale͏͏ in͏͏ Mumbai͏͏ in͏͏ the͏͏ future.͏͏ We͏͏ recognise͏͏ the͏͏ potential͏͏ in͏͏ India,͏͏ and͏͏ with͏͏ the͏͏ right͏͏ strategies,͏͏ India͏͏ could͏͏ surpass͏͏ China,”͏͏ said͏͏ Baliyan.
“With͏͏ a͏͏ few͏͏ adjustments͏͏ and͏͏ regulatory͏͏ changes,͏͏ India͏͏ can͏͏ soar.͏͏ Lowering͏͏ duties͏͏ and͏͏ GST͏͏ rates͏͏ could͏͏ quadruple͏͏ luxury͏͏ sales͏͏ and͏͏ boost͏͏ tax͏͏ revenue.͏͏ Currently,͏͏ outbound͏͏ Indians͏͏ are͏͏ leading͏͏ the͏͏ luxury͏͏ consumption͏͏ pyramid;͏͏ they͏͏ spend͏͏ six͏͏ times͏͏ what͏͏ is͏͏ spent͏͏ here͏͏ on͏͏ luxury͏͏ goods͏͏ worldwide,”͏͏ he͏͏ added.
Optimism͏͏ for͏͏ Future͏͏ Growth:
Pratiek͏͏ Kapoor,͏͏ director͏͏ of͏͏ Kapoor͏͏ Watch͏͏ Company,͏͏ stated͏͏ that͏͏ the͏͏ next͏͏ five͏͏ to͏͏ ten͏͏ years͏͏ look͏͏ promising͏͏ for͏͏ India,͏͏ offering͏͏ ample͏͏ room͏͏ for͏͏ growth.
“That’s͏͏ why͏͏ we͏͏ are͏͏ investing͏͏ in͏͏ the͏͏ market.͏͏ The͏͏ Indian͏͏ market͏͏ is͏͏ well-positioned͏͏ compared͏͏ to͏͏ global͏͏ markets,͏͏ providing͏͏ a͏͏ degree͏͏ of͏͏ insulation.͏͏ The͏͏ last͏͏ four͏͏ to͏͏ five͏͏ years͏͏ post-COVID͏͏ have͏͏ been͏͏ very͏͏ positive,͏͏ and͏͏ we͏͏ expect͏͏ this͏͏ trend͏͏ to͏͏ continue,”͏͏ he͏͏ added.
