Swiss luxury watch brand Norqain, which partnered with Ethos to enter India in 2022, is targeting a 5% revenue contribution from the Indian market by the end of FY26, according to Tobias Kueffer, VP and family member of the Norqain ownership.
India:ÍŹÍŹ AÍŹÍŹ KeyÍŹÍŹ MarketÍŹÍŹ forÍŹÍŹ FutureÍŹÍŹ Investment
TheÍŹÍŹ brandÍŹÍŹ viewsÍŹÍŹ theÍŹÍŹ IndianÍŹÍŹ marketÍŹÍŹ asÍŹÍŹ essentialÍŹÍŹ forÍŹÍŹ futureÍŹÍŹ growth.
“WeÍŹÍŹ considerÍŹÍŹ IndiaÍŹÍŹ oneÍŹÍŹ ofÍŹÍŹ theÍŹÍŹ primaryÍŹÍŹ marketsÍŹÍŹ forÍŹÍŹ focusÍŹÍŹ andÍŹÍŹ investment.ÍŹÍŹ WhileÍŹÍŹ theÍŹÍŹ numbersÍŹÍŹ mayÍŹÍŹ notÍŹÍŹ placeÍŹÍŹ IndiaÍŹÍŹ atÍŹÍŹ theÍŹÍŹ topÍŹÍŹ yet,ÍŹÍŹ weÍŹÍŹ regardÍŹÍŹ itsÍŹÍŹ significanceÍŹÍŹ asÍŹÍŹ paramount,”ÍŹÍŹ heÍŹÍŹ asserted.
Continue͏͏ Exploring:͏͏ Swiss watchmakers bullish͏͏ on͏͏ India’s͏͏ growing͏͏ luxury͏͏ market:͏͏ Deloitte͏͏ Report
“OurÍŹÍŹ topÍŹÍŹ marketÍŹÍŹ isÍŹÍŹ theÍŹÍŹ US,ÍŹÍŹ followedÍŹÍŹ byÍŹÍŹ Japan,ÍŹÍŹ whereÍŹÍŹ weÍŹÍŹ haveÍŹÍŹ 40ÍŹÍŹ outlets.ÍŹÍŹ Switzerland,ÍŹÍŹ ourÍŹÍŹ homeÍŹÍŹ market,ÍŹÍŹ isÍŹÍŹ alsoÍŹÍŹ significantÍŹÍŹ forÍŹÍŹ us,”ÍŹÍŹ heÍŹÍŹ added.
TheÍŹÍŹ brand,ÍŹÍŹ presentÍŹÍŹ inÍŹÍŹ 38ÍŹÍŹ countries,ÍŹÍŹ plansÍŹÍŹ toÍŹÍŹ expandÍŹÍŹ intoÍŹÍŹ twoÍŹÍŹ moreÍŹÍŹ countriesÍŹÍŹ byÍŹÍŹ theÍŹÍŹ endÍŹÍŹ ofÍŹÍŹ thisÍŹÍŹ fiscalÍŹÍŹ year.
“AtÍŹÍŹ present,ÍŹÍŹ IndiaÍŹÍŹ ranksÍŹÍŹ betweenÍŹÍŹ 10thÍŹÍŹ andÍŹÍŹ 15thÍŹÍŹ inÍŹÍŹ termsÍŹÍŹ ofÍŹÍŹ revenueÍŹÍŹ forÍŹÍŹ us;ÍŹÍŹ however,ÍŹÍŹ byÍŹÍŹ theÍŹÍŹ endÍŹÍŹ ofÍŹÍŹ FY26,ÍŹÍŹ weÍŹÍŹ anticipateÍŹÍŹ itÍŹÍŹ willÍŹÍŹ becomeÍŹÍŹ ourÍŹÍŹ sixth-largestÍŹÍŹ market,”ÍŹÍŹ heÍŹÍŹ stated.
“IndiaÍŹÍŹ isÍŹÍŹ evolving,ÍŹÍŹ withÍŹÍŹ aÍŹÍŹ rapidlyÍŹÍŹ growingÍŹÍŹ middleÍŹÍŹ classÍŹÍŹ thatÍŹÍŹ willÍŹÍŹ significantlyÍŹÍŹ impactÍŹÍŹ theÍŹÍŹ luxuryÍŹÍŹ market.ÍŹÍŹ ItÍŹÍŹ isÍŹÍŹ trulyÍŹÍŹ aÍŹÍŹ marketÍŹÍŹ toÍŹÍŹ watch,”ÍŹÍŹ heÍŹÍŹ added.
ExpansionÍŹÍŹ PlansÍŹÍŹ andÍŹÍŹ ProductÍŹÍŹ Launches:
TheÍŹÍŹ brandÍŹÍŹ hasÍŹÍŹ launchedÍŹÍŹ overÍŹÍŹ 90ÍŹÍŹ SKUsÍŹÍŹ inÍŹÍŹ totalÍŹÍŹ andÍŹÍŹ currentlyÍŹÍŹ hasÍŹÍŹ 58ÍŹÍŹ activeÍŹÍŹ SKUs.ÍŹÍŹ ItÍŹÍŹ plansÍŹÍŹ toÍŹÍŹ introduceÍŹÍŹ twoÍŹÍŹ newÍŹÍŹ SKUsÍŹÍŹ byÍŹÍŹ theÍŹÍŹ endÍŹÍŹ ofÍŹÍŹ OctoberÍŹÍŹ andÍŹÍŹ oneÍŹÍŹ SKUÍŹÍŹ inÍŹÍŹ November.
“WeÍŹÍŹ beganÍŹÍŹ withÍŹÍŹ aÍŹÍŹ globalÍŹÍŹ focus,ÍŹÍŹ butÍŹÍŹ weÍŹÍŹ areÍŹÍŹ nowÍŹÍŹ concentratingÍŹÍŹ onÍŹÍŹ specificÍŹÍŹ marketsÍŹÍŹ toÍŹÍŹ furtherÍŹÍŹ strengthenÍŹÍŹ ourÍŹÍŹ position.ÍŹÍŹ WeÍŹÍŹ alsoÍŹÍŹ lookÍŹÍŹ forwardÍŹÍŹ toÍŹÍŹ launchingÍŹÍŹ specialÍŹÍŹ editionsÍŹÍŹ inÍŹÍŹ IndiaÍŹÍŹ inÍŹÍŹ theÍŹÍŹ future,”ÍŹÍŹ heÍŹÍŹ said.
InÍŹÍŹ India,ÍŹÍŹ theÍŹÍŹ brandÍŹÍŹ isÍŹÍŹ presentÍŹÍŹ inÍŹÍŹ 15ÍŹÍŹ EthosÍŹÍŹ retailÍŹÍŹ storesÍŹÍŹ asÍŹÍŹ wellÍŹÍŹ asÍŹÍŹ twoÍŹÍŹ duty-freeÍŹÍŹ stores.
ExclusiveÍŹÍŹ Norqain OutletsÍŹÍŹ ComingÍŹÍŹ Soon:
“InÍŹÍŹ theÍŹÍŹ future,ÍŹÍŹ weÍŹÍŹ planÍŹÍŹ toÍŹÍŹ openÍŹÍŹ exclusiveÍŹÍŹ NorqainÍŹÍŹ outletsÍŹÍŹ inÍŹÍŹ partnershipÍŹÍŹ withÍŹÍŹ Ethos,ÍŹÍŹ providingÍŹÍŹ customersÍŹÍŹ theÍŹÍŹ opportunityÍŹÍŹ toÍŹÍŹ experienceÍŹÍŹ theÍŹÍŹ brand’sÍŹÍŹ spirit,”ÍŹÍŹ heÍŹÍŹ said.
Currently,ÍŹÍŹ theÍŹÍŹ brandÍŹÍŹ isÍŹÍŹ notÍŹÍŹ involvedÍŹÍŹ inÍŹÍŹ sourcingÍŹÍŹ orÍŹÍŹ manufacturingÍŹÍŹ inÍŹÍŹ India.
