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Kothari Watch Company unveil new products

The scions of the Kothari family, Navin Kothari, Rajesh Kothari and Chirag Kothari have added another feather to their cap. They continued the tradition of unveiling new products at regular intervals by launching: Full Night Glow, Wrist Watches, Pocket Watches, Wall Clocks and Folding Alarms. The newly introduced Nightglow clock is with white dial day, date, double faced watches. And you can move the watch to any direction. These watches are used mostly in showrooms, flats, etc. and Kothari Watch Co. is only one distributor in India for nightglow watches.

The brothers are continuing the legacy of veteran watch repairer, Late Shri. Nimchand K. Kothari (who founded the now famous Kothari Watch Company, way back in 1933), who held a lofty vision and a steel determination to serve humanity at large.

Navin Kothari, his eldest son, had already been introduced to the company and the horological business by his father way back in 1950. Today, Navin Kothari, continues to concentrate on his horological business, and is helped in this, by brother Shri. Vasant Kothari and his two sons, Shri. Rajesh Kothari has a B. Com degree, C. A, DICM (commodity analyst), MCCP, DCL degree in Electronics and Telecommunication. As Kothari Watch Company completed its seventy fifth year, only last year in 2009, it still continues to stands strong on the foundations laid by its founder Shri. Nimchand Kothari, and the astute principles the firm has so scrupulously followed for the last seventy six years. It has been a smooth and systematic journey in time, inspite of all round competition, recession, unhealthy trends and practices being carried on elsewhere and so on.

Some more feathers to the cap of Shri. Navin Kothari are the fact that today it is largely due to the enterprising nature, bequeathed to him by his late father, in addition to the wholesale and retailing business that the company has progressed by leaps and bounds. Kothari Watch Company, has been importing quartz clock movements since the last few years. It has also introduced in the year 2006, the ‘Full Night Glow’ clocks under the brand name ‘Kothari’, which are offered with the unique feature of a glowlight, which makes these clocks readable, even in darkness, all through the night. One of the other specialties of this company is that, it is one of the largest suppliers of mechanical pocket watches and mechanical alarms in the country, which are largely used by Jain Sadhus. More recently, the company has introduced wall clocks with day and date with or without nightglow as well as double faced wall clocks also with or without nightglow.

India: Strong participant at Baselworld 2010 with 34 jewellery manufacturers

India is a strong participant at Baselworld 2010 with 34 jewellery manufacturers exhibiting their products under the aegis of the Gems and Jewellery Export Promotion Council. Also visible are Indian retailers of Swiss watches, journalists and the media. While India is still seen as a small market for Swiss watches, in 2009 sales grew at an annualised rate of 25 per cent valued at around $250 million. Many analysts expect the Indian market to grow into a $1-billion market over the next 10 years.

The Indian, Chinese and Thai jewellery and watches manufacturers were dispatched to Hall 6, which is two tram stops away from the scene of action. Baselworld 2010, spread over six exhibition halls occupying some 1.6 lakh sq. mt of space, has over 2,100 exhibitors from 45 countries and was expected to draw over one lakh visitors. Big and small Swiss watch brands have a presence at the show. Two iconic brands — Rolex and Patek Philippe — dominate the entrance to Hall 1 (called the Hall of Dreams).

The largest portion of this hall is occupied by Swatch Group brands such as Omega, Longines, Tissot, Rado, Breguet, Blancpain, Certina, CK and Tiffany & Co. Tiffany & Co is the latest acquisition of the Swatch Group and is overseen by Nyla Hayek. And what is the Swatch Founder and CEO, Nicolas Hayek, doing? Well, he has decided to personally oversee Jaquet Droz in addition to Breguet!  Only two non-Swiss companies have been given the privilege of exhibiting in Hall 1 — Seiko and Citizen. Quite an
honour!

The Swiss watch industry suffered a major blow in 2009 with sales dropping by 22.3 per cent to 13.2 billion Swiss Francs (SFR). With the global sales volume dropping below the 2006 figures, Asia has emerged as the new saviour. Clocking 6.3 billion SFR in 2009, the Asian market accounted for 48 per cent of the world market. The US, representing 11.1 per cent of the market, declined by 37.9 per cent.

Despite the fall, the Swiss watch industry valued at $12 billion remained at the number one position, followed by Hong Kong ($5.6 billion) and China ($2.5 billion), ahead of Japan. It may be noted that while the average price of watches exported from China is $2, the average price for a Swiss watch is a whopping $528. There was, of course, a silver lining for some individual Swiss
manufacturers. Swatch group, the number one watch manufacturing group in the world, witnessed a revenue fall of only6.1 per cent.

The recession has opened up opportunities for two other Swiss brands. Rolex, which has recorded a significant revenue drop because of its dependence on the American market, may find a new contender for the number one brand position in Omega. Tissot, another Swatch group brand, has emerged as the number one watchmaker in volume terms. It also posted a miraculous growth in evenue of 4 per cent — probably the only large watch brand that has shown a growth in revenue.

In 2009 the Swiss watch industry witnessed a 22.3 per cent fall in revenue. Many global brands were brought to their knees with sales down about 35 per cent. Notwithstanding the sombre mood, the general attitude at the fair was that “the show must go on”.

Shinji Hattori, CEO, Seiko, and great grandson of the Seiko founder, was personally present to speak to guests. He also
released the Astron 40, a limited edition replica of Astron — the world's first quartz watch launched in 1969 — to commemorate 40 years of quartz technology.


Tissot poised to become billion dollar brand

In 2010, Tissot is readying for the big league of being a billion-dollar watch brands such as Rolex, Swatch, Omega and Seiko. In a commendable feat, the only large watch company in the world that increased both volume sales and revenue in 2009 was Tissot.
Tissot’s volume sales grew by 2 per cent to 2.21 million watches and its revenue by 4 per cent.

The year 2009 was its 14th consecutive year of growth! Last year, Tissot emerged as the largest selling brand in its home market (2009 sales 1,52,000 numbers). It is also the largest selling Swiss watch brand in both China (2009 sales 2,00,000 pieces) and India (2009 estimated 30,000 pieces). In 2009, the average selling price of a Tissot watch was 430 Swiss francs (around Rs. 18,300). At a volume of 2.21 million the revenue is pretty close to $1 billion, inches away from becoming a billion-dollar brand.

Throughout its long history of 157 years, Tissot has been known to be a great innovator. Available at 16,000 retail distribution points in the world, Tissot’s distribution spread is unmatched by any otherSwiss watch company. The widest distribution for its position as a leader in affordable luxury is the hallmark of Tissot in every market that it enters. It has the largest number of retail outlets in China and has now penetrated beyond the Swiss boutiques in India. Tissot is the only brand that competes head-to-head with high-end Titan watches in India, claims the management.

Tissot has immense clarity in positioning of all its products. Francois Thiebaud described Seiko and Citizen as the two worldwide competing brands with Tissot. It is, therefore, not surprising that to remain competitive with the Japanese brands, 80 per cent of Tissot's products are quartz. Only 20 per cent form mechanical or automatic watches at the higher end of the market. Tissot’s worldwide motto is “best value for money”. It implies adherence to low costs. Tissot’s statistics in some of the markets is remarkable.

In 2009, Tissot’s sales in China was 500 million RMB. Its cost of promotion was a mere 10 million RMB. With advertising costs at 2 per cent, Tissot probably spends the least amount in promotion costs compared to industry peers. However, Tissot operates through many low-cost promotion vehicles by supporting lesser known sports events such as the world championship of fencing, cycling, hockey and Moto GP. Tissot also uses local brand ambassadors. Its Chinese brand ambassador Barbie Xu has made a huge impact in the Asian region. Finally, Tissot operates in 150 countries. Therefore, its dependence on markets such as the US was only 8 per cent in 2009. Therefore, while the US market went through a bloodbath in 2009, it barely had any impact on Tissot.

Luxury watches grows to Rs. 1200 crores

Luxury watches want to extend their footprint by opening more outlets. The Rs. 1,200 crores luxury watch segment in India was one of the few sectors that did not face recessionary pressures and players are expecting to clock double-digit growth even this year. In 2009, an AT Kearney report revealed premium watches grew at around 55 per cent compounded annual growth rate (CAGR) compared to the 19 per cent CAGR in jewelry market over the last four years. This segment of watches is dominated by imported brands that constitute 77.1 per cent while local brands account for 22.9 per cent.

Take watch studio Ethos for example, which earns around 25 per cent of its turnover from luxury watches. The brand is betting big on high-end watches in India. Last year, around 600 clients bought Ethos watches in the price range of Rs. 1-2 lakh. The brand is expecting to clock a higher growth this year.

Varuni Mohan, brand consultant with Salvatore Ferragamo in India, said they were seeing a huge demand for jewel encrusted watches. Luxury watches in India start at Rs. 30,000-40,000 and go up to few lakhs.

No wonder Swiss luxury watchmaker Rado is excited about India. The brand currently has 11 boutiques in India and plans to add five more this year. Fossil, which started operations in 2008, doubled its sales in 2009, albeit on a lower base. The firm’s portfolio of brands includes Fossil, DKNY, Diesel, Emporio Armani, Burberry, Adidas, Michele, Zodiac and Relic.

GiftsToIndia24x7.com Introduces Newer Collection of Titan Watches 

GiftstoIndia24x7.com is bringing out another new offer from its collection. This time it is a new range of Titan watches for gents, ladies and couple. Right now Titan is in the sixth world's largest watch manufacturer. Increasing high in demand in both national and international market, the Titan watches are preferred as gifts to the near and dear ones on any special occasion. Available in various attractive designs and colors, these trendy watches define sophistication.

This new collection of classy Titan watches include the latest Raga or Karishma exclusively for women and Titan Edge for men. The pair watches are perfect to send as gifts to India for a couple. These pair watches can be gifted as wedding gift for a couple or anniversary gift for a husband-wife. Coming in pocket friendly prices and in every range, these watches will speak for the choice of the sender.

CEO of the company, Mr. Amit Desai, said in this regard, "This newer collection of Titan watches are for those people who want to show their feelings and care in a grand way. These elegant looking watches will convey your warm wishes to those person whom you truly love and care. Send these watches to India on the next big occasion and let happiness reign there."

Apart from the Titan watches this online gifting mall, GiftstoIndia24x7.com, also offers collection of watches from other famous brands like Fastrack, Angora, Timex, Giordano etc. Send these branded watches as gifts to India and let the gifts be the messenger of your emotions.

Timex expects 10 per cent growth

Timex Group India, best known for their brand of watches had been witnessing a flat growth for the last couple of years. However, it hopes for a revival in market conditions in 2010-11. The company’s revenue for 2007-08 was Rs. 132.89 crores. In 2008-09, the turnover dipped marginally to Rs. 131.96 crores. This year, Timex has been seeing a modest three per cent growth in topline for the last nine months. It expects a 10 per cent growth in revenues next year. According to Gopalratnam Kannan, M.D., Timex Group India growth in 2009-10 has been sluggish; the company expects better opportunities in the coming year. The company also sees growth opportunities in Tier II and Tier III cities.

Timex India markets 12 brands of watches including Timex, Versace, Nautica and Guess, spanning Rs. 600 to a few lakh rupees. It will soon launch an American fashion brand Marc Ecko at select outlets. The company, which has around 70 stores (a mix of kiosks and standalone stores) across the country, will open 20 more stores next year. It plans to invest around Rs. 20 million on store expansion.

Leading watch maker Timex Group India today said it plans to open 20 more outlets across the country in 2010-11. “There are also plans to strategically expand product portfolio with new collections,” the company’s M.D. Gopalaratnam Kannan told reporters here while opening the brand's 12th store in Karnataka. He said the company plans to roll out the Marc Ecko brand in May and crystal collection for women under Timex.

The 20 new outlets would be a mix of kiosk and store formats. Five of these would be in tier II and tier III cities. Investment for each store would be in the range of Rs 10 lakh. Kannan said the market in tier II and tier III cities was increasing owing to reach of television, higher disposable income and increase in brand awareness. The fastest growing segment in watches is in the Rs. 5,000 plus range, he added.

Limited edition pieces in demand

Limited edition pieces are catching the fancy of the high net worth Indian. It could be a piece of vintage luggage, a writing instrument crafted in sterling silver and engraved with diamonds — of which there are only a limited 100 pieces, a 25-year old single malt, a bottle of rare cognac, or even a special edition car that was seen in a Hollywood hit movie. Indian collectors are now increasingly fascinated with objects d’ art that mean more than just premium pricing.

In the world of apparel and accessories, the luxury market in India has already created a limited edition niche. The connoisseurs of luxury are always looking for something special and are willing to pay the higher price. The target for the limited edition products are the inherently wealthy Indians, who have enjoyed what luxury brands offer regularly. The limited availability of these products make them exclusive and desirable.

The fascination for unique limited edition collectibiles is not something new among Indians. The Maharajas were discerning collectors and always valued craftsmanship—it’s there in our DNA. A category of limited edition collectibles that are now attracting the well-heeled and well-traveled Indian is premium liquor. They believe in tradition, history and legacy and often find this in rare whisky labels. Limited edition, in this case, represents another era with the antique value increasing with time. Of course, besides the antique value, often such labels provide an investment avenue through which collectors leave behind a legacy for the next generation in terms of value appreciation of their collection. While to find old and antique liquor labels, Indian collectors have to largely depend on experts and retailers in Europe, limited edition labels don’t necessarily have to be of vintage value.

New limited edition collections that are rolled out by various luxury brands are also a big draw for Indian collectors. An example is famous designer Marc Newson’s limited edition ‘Black Box’ created for Dom Pérignon champagne. Writing instruments and watches too are categories in which limited edition collections are gaining popularity in India.

Collectors scouting for rare pens are now looking to William Penn, the multibrand retail chain for premium fine writing instruments. In five years since it opened its doors in India, William Penn has sold over 80 rare limited editions from various brands such as Caran d’Ache, ST Dupont; Sheaffer; Montblanc; Sailor and Pelikan.

Since there’s a market for vintage pens in India, William Penn is looking at setting up a collectors corner where we will be inviting people to buy and sell vintage pens. As with every collectible, the prices of these rare pieces appreciate year on year anywhere between 15% and 25%.

Many collectors from India still source limited edition writing instruments from Singapore and Hong Kong during their overseas travel. William Penn has recently brought the Caran d’ Ache Shiva fountain pen. The Shiva pen, which comes with a Rs. 5.15 lakh price tag, has done well in India. Other limited edition pieces that are doing well include ST Dupont Place Vendome pen at Rs. 1.25 lakh, Pelikan Hanging Gardens at Rs. 2.25 lakh and Caran d’Ache 1010 at Rs. 7.75 lakh. The market for antique pens and watches is also growing as more and more people start appreciating the value of tradition and art that such pieces represent.

Then there are relatively newer categories that are starting to find favour in the limited edition segment as well. These even include sarees from famous designers such as Satya Paul which do not fail to attract the attention of luxury lovers!

Home accessories is another category which is seeing innovations in the limited edition space. British fashion designer Paul Smith, for instance, has collaborated with Danish tableware designer Stelton to produce new collections for design lovers.