India Emerges as New Hub for Swiss Luxury Watches – Swiss Watch Brands See Demand Soar in India’s Tier 2 and Tier 3 Cities, Redefining Luxury Retail Strategy
A new phase in luxury timekeeping is commencing. Traditionally heavy on the strong Chinese market, Swiss watchmakers have turned their eye toward India now. This is the future that is about to be written, one that opens exciting new territories in Swiss horology for the Indian audience.
The allure of Swiss watches remains undiminished. However, the dynamics of demand are evolving. India’s burgeoning economy and changing consumer preferences are reshaping the landscape, offering fresh opportunities for Swiss watchmakers.
China’s Waning Appetite for Luxury
The changing economic fortunes of China have caused disruptions for the luxury goods industry. Real estate and rising unemployment among youth have captured most discretionary spending.
As reported by the Federation of the Swiss Watch Industry, Swiss watch exports value to China and Hong Kong declined by 39 percent and 32 percent during early 2025, respectively. Following this brand feedback was a review of their market strategy.
India’s Ascendancy in the Luxury Segment
On the contrary, there is an increasing luxury consumption going on in India. Exports of Swiss watches to India, in the first quarter of 2025, increased by almost 30% and are also the fastest-expanding market of all.
This growth will be catalyzed as newer aspirant youth grow with larger retail footprints in both metros and smaller cities. In the March quarter of 2025, exports grew from CHF 48 million during the same period of 2023 to CHF 62.3 million according to the Federation of the Swiss Watch Industry.
Rado’s Strategic Pivot to India
Rado, an important player on the Swiss watchmaker list-India is considered by them their biggest single market. They have thrived in India because of tremendous demand from both metropolis and tier-two towns.
Rado operates around 33 stores in India and has reported a healthy amount of interest from Tier 2, Tier 3, and Tier 4 regions. In Bosshard’s opinion-India has a bright future, with “The market momentum is unprecedented.”
Expansion Beyond Metros
India’s luxury watches market today has no more restrictions in metropolitan areas. Retailers like Kamal Watch Co. have opened stores further into the metro cities of central and eastern India, now noting a difference in the consumers’ mindset towards luxury spending.
The newer generation has global exposure into its elements for a sense of duty in another approach altogether, favouring luxury watches of status and self-expression.
Navigating Challenges
Despite the optimistic outlook, challenges persist. High import duties, reaching up to 36%, inflate prices, while counterfeit luxury watches account for a significant portion of sales. Additionally, first-time buyers often require guidance on brand value and authenticity.
However, the anticipated reduction in import duties due to a free-trade agreement between India and the European Free Trade Association could alleviate some of these issues.
India’s Time to Shine
The shift in focus from China to India by Swiss watchmakers signifies a strategic realignment in the luxury watch industry. India’s economic resilience, coupled with a growing appetite for luxury goods, positions it as a vital market for Swiss watches.
As brands like Rado, Omega, and Tissot deepen their engagement with Indian consumers, the country is poised to become a central pillar in the global luxury economy. This transformation underscores India’s emergence as a new hub for Swiss luxury watches.
The Road Ahead
India’s luxury watch market is poised for exponential growth. The Federation of the Swiss Watch Industry has called it the “next big growth market.”
With a GDP growth rate projected at 6.5% for FY26 and a rising middle class, India offers a fertile ground for Swiss watchmakers. Brands are investing in experience-driven boutiques and India-exclusive collections to cater to the evolving consumer base.
