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Cartier Carnet in Bangalore

Bangalore city will see a rare gathering reveal itself next week - 25 in all, each an exquisite piece of craftsmanship and quality. Called the ‘The Cartier Carnet: Cartier's jewelled timepieces’ the display can only be gazed at in awe, not owned.

“Cartier is known as the jeweller for the kings,” says Rajendran, all-India head of operations, Ethos. The watch boutique is bringing the special collection to Bangalore. The most expensive watch on display is the Ballon Bleu de Cartier - a diamond-studded piece made entirely of white gold with a price tag of Rs. 90 lakh. “The display is only intended to showcase the ability and skills of the watchmaker. Those interested in buying a watchfrom the Carnet can place an order which will be executed in three months,” adds Rajendran.

Explaining the weightage the name holds, he says Cartier, Rolex and the like are all the same - recession-proof: “Cartier has been in existence for more than 100 years. It was decided to bring the exhibition to the city now as the market is calm and quiet. People will be able to come and appreciate the 25 watches on display.” “The design is not typically Indian. Yet, almost a century ago, Cartier had its largest clientele base in India - the Maharajas,” says Rajendran. The watch cannot merely be called so; such is the workmanship and art. “A Cartier user knows its designs are unique, its watches being like exquisite pieces of jewellery. But it does not shout it out. A client knows that only those who are familiar with a Cartier will be able to recognise it,” he says of its clientele.

When asked to define a typical Cartier client, he says, “It would have to be a person of old money, with a taste for the finer things in life. At least one of the members from the previous generations in his family will have worn a Cartier. He will swear by the brand, using only a Cartier lighter or a Cartier pen.” Sales for the brand has seen a steady five per cent increase every year in India. Other luxury watches have to play close contenders while vying for the attention of the elite.

“Omega and Rolex are the other marquee brands. Rolex has a following among royalty too, not to forget a wider base with the landed gentry,” says Rajendran. Omega’s watches are priced just below Rolex. “It is considered the epitome of high-level living and seen as an affordable luxury. The lowest priced Omega watch is available at Rs. 75,000. The high precision range comes to half a million rupees,” he elaborates. Omega watches, he adds, are mostly collector's items, bought to be handed down from generation to generation.

Talking about the general lull in the market, he admits that sales were not too impressive after January. “It is usually after mid-February. But this year, it was a little advanced. After June, the market is slowly coming back to its former self. When the recession hit India, there was a low phase. But India is a consumer economy. People have started loosening their purse strings again.”

Q&Q watchesOnam brings home delight

Q&Q watches, part of Japan CBM Corporation, is the largest selling analog watch brand in the world. True to its brand promise of “International Product - Honest Price”, Q&Q is known for its legendary Japanese assurance of quality, economical pricing and avant-garde designs. Q&Q watches caters to every Indian’s aspirations.  This Onam, while the ‘Pookalam’ welcomed the Lord into every home, Q&Q laid out an offer in God’s Own Country - Kerala. The Onam Delight offer – Free Travel Bag with a Q & Q watch of Rs. 549 to Rs. 1499, and a free Rechargeable Torch with a Q&Q watch of Rs. 1500 and above, was introduced from August to September with standees, leaflets, posters and danglers across stores. Onam Delight saw an overwhelming response, with customers walking in to get their hands on a range of exciting watches from Q&Q. And needless to say, every customer walked out feeling truly gifted and delighted.

P.A. Time to bring global watch brands to India

P.A. Time Industries, the owner of Maxima watches, is looking at increasing its market share and is in talks with several international companies across Switzerland, Spain, West Asia and Hong Kong to bring in four to five watch brands to India by 2012. The company on Wednesday has launched a new brand called Ssteele available in the price range of between Rs. 1,500 and Rs. 3,000.

“We have been approached by many international companies but we are in talks with a few from different countries. We are planning to bring a plethora of brands to the domestic market before 2012. Our company would offer them distribution and marketing functions,” said Manjot Purewal, director, P.A. Time Industries.

At present, the company sells watches in two price bands. While their first brand Maxima is available at prices between Rs. 350 and Rs. 1,500, the newly launched brand Ssteele will be available in the price band of Rs. 1,200 and Rs. 3,000. The company is looking at launching international brands at a price ranging between Rs. 2,500 and Rs. 6,000.

Watch manufacturer P.A. Time Industries, owner of popular Maxima brand launched its new range of watches, Ssteele. It also announced plans to introduce international watch brands in India in the next three years. Primarily targeted at youngsters in urban and semi-urban areas, the over 50 models of Ssteele stainless steel watches are priced between Rs. 1,250 and Rs. 3,200.

Director Manjot Purewal said: “We expect our second watch brand to be a trendsetter. We are positioning Ssteele in the next segment after Maxima. Our target customers for the new brand would be youngsters between 16 and 24 years”. Stating that the new model would be introduced in the United Arab Emirates, Bangladesh, Oman and Saudi Arabia next month, Purewal said the company planned to have at least 250 exclusive franchise outlets in India in the next three years, up from the present 15.

The company was also looking at the franchise and marketing models to introduce its international range. “We are in negotiations with a few foreign watchmakers and hope to have four-five such brands in India within two-three years. The international brands will be priced between Rs. 3,000 and Rs. 5,000,” he added.

Stating that its Maxima range was the second largest player in the organised market with an annual sales of around 20 lakh units, Purewal said the organised watch market in India was around 1.5 crore units annually while the unorganised market was estimated at 8-10 crore units.

“With the launch of Ssteele, we hope to achieve a turnover of Rs. 100 crore this fiscal from the watch business, up from last year’s Rs. 80 crore,” Purewal added.

Timex Group posts net profit of 2.43 cr for Q1

Watchmaker Timex Group has reported a net profit of Rs. 2.43 crore for the first quarter of this financial year. The company had a net profit of Rs. 3.22 crore during the same period last year, Timex Group India Ltd said in a filing to the Bombay Stock Exchange (BSE). It reported net sales of Rs. 34.21 Corey during the quarter ended June 30, 2009. Timex Group had net sales of Rs. 33.62 crore during the corresponding period of 2008-09.The figures for the quarter ended June 30, 2009, are not comparable with those for the corresponding previous quarter as the company had sold its precision engineering business last year, the filing said. “The significant profits posted during this quarter are in spite of the global downturn. Additionally, the launch of several high-end products in India has strengthened our faith in India as one of our key markets,” Timex Group India Chairman Hans-Kristian Hoejsgaard said.