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Indian Wrist Watch market

50 million wristwatches are sold in India every year. Not withstanding the presence of
global players and the opening up of the market, the Indian market has always been
dominated by a single player. In the past, till the late 80’s, in the mechanical era, HMT
dominated the market. And after that it has again been the domination of a single
company, Titan. Today Titan has almost 65% market share of the organized watch market
in the country. The organized watch market itself is estimated at 35% of the total
industry size...........

In value t terms the size of the organized market is estimated


at around Rs. 1500 crores, which means that the average price of watches sold even
today is less than Rs.1000!!!

Watches are typically segmented into specialist watches and fashion watches. All
International watch brands have a clear position as to where they belong. In India most
sales are in the fashion segment and this fine distinction has not yet been used by
marketers. Male watch buyers far outnumber females and account for around 65% of
sales. Students are the largest segment of buyers accounting for approximately 30% of the
sales.

Since penetration is still low and the unorganized sector big, this industry has a lot of
scope to grow both in value and volume. The jury is still out though whether the Indian
companies like Titan will lead this growth or the global majors like Seiko, Citizen etc.
After all the domestic players have hitherto grown because of a retail strategy and the
wining global players are clearly focused on product
Department of Commerce
Export Import Data Bank
Import :: Commodity-wise all countries

Dated: 25/4/2011
Sorted on values of year 2010-2011

Commodity: 9102 WRIST-WTCHS,POCKT-WTCHS & OTHR WTCHS,INCL STOP-WTCHS,EXCL THOSE


OF HDG NO.9101 Unit:
S.No. Country Values in Rs. Lacs Quntity in thousands

2010- 2010-
2009-2010 2011(Apr- %Growth 2009-2010 2011(Apr- %Growth
Sep) Sep)
1. HONG KONG 8,515.25 6,496.82
2. CHINA P RP 5,541.26 2,468.27
3. SWITZERLAND 6,127.35 1,961.58
4. JAPAN 685.33 129.90
5. PHILIPPINES 241.95 69.19
6. USA 231.14 56.72
7. POLAND 52.89
8. KOREA RP 109.84 45.75
9. U ARAB EMTS 51.85 40.86
10. SINGAPORE 13.17 28.85
11. ITALY 33.05 15.14
12. THAILAND 7.40 13.61
13. U K 15.30 6.49
14. GERMANY 19.75 5.89
15. AUSTRIA 37.06 4.94
16. MALAYSIA 1.58 4.53
17. FRANCE 93.01 4.49
18. SWEDEN 0.11 3.42
19. SWAZILAND 1.22
20. BELGIUM 0.10
21. TAIWAN 2.08 0.09
22. INDONESIA 1.28
23. IRAN 0.02
24. ISRAEL 0.02
25. NETHERLAND 2.88
26. RUSSIA 7.31
27. AUSTRALIA 0.08
28. LUXEMBOURG 0.14
29. SPAIN 0.83
30. UNSPECIFIED 13.81
Total 21,752.88 11,410.75

DOC-NIC

Department of Commerce
Export Import Data Bank
Import :: Commodity-wise all countries

Dated: 25/4/2011
Sorted on values of year 2008-2009

Commodity: 9102 WRIST-WTCHS,POCKT-WTCHS & OTHR WTCHS,INCL STOP-WTCHS,EXCL THOSE


OF HDG NO.9101 Unit:
S.No. Country Values in Rs. Lacs Quntity in thousands

2008- 2008-
2007-2008 %Growth 2007-2008 %Growth
2009 2009
1. SWITZERLAND 4,150.50 13,833.35 233.29
2. HONG KONG 4,626.20 8,244.49 78.21
3. CHINA P RP 3,724.55 4,583.38 23.06
4. JAPAN 1,044.99 1,609.23 54.00
5. USA 13.00 209.84 1,514.28
6. PHILIPPINES 170.12 164.14 -3.52
7. KOREA RP 64.11 142.02 121.52
8. U ARAB EMTS 722.48 120.59 -83.31
9. FRANCE 14.13 88.04 522.95
10. UNSPECIFIED 599.05 47.47 -92.08
11. GERMANY 19.66 46.05 134.23
12. ITALY 0.84 36.90 4,274.49
13. AUSTRIA 6.83 30.16 341.47
14. SINGAPORE 34.89 29.94 -14.18
15. U K 16.57 29.15 75.86
16. SWAZILAND 12.53
17. RUSSIA 12.64 11.90 -5.78
18. NETHERLAND 6.98 3.88 -44.46
19. THAILAND 7.44 3.85 -48.27
20. SPAIN 1.38 3.19 131.03
21. TAIWAN 69.21 3.14 -95.46
22. VIETNAM SOC REP 1.04
23. CANADA 0.09 0.88 930.96
24. TURKEY 0.36
25. INDONESIA 52.69 0.30 -99.44
26. MALAYSIA 0.07 0.14 110.00
27. BELGIUM 0.05
28. AUSTRALIA 0.30
29. CZECH REPUBLIC 0.03
30. DENMARK 33.48
31. EGYPT A RP 2.12
32. MONACO 0.69
33. SRI LANKA DSR 0.09
34. NEW ZEALAND 1.78
35. SAUDI ARAB 0.01
36. POLAND 0.28
37. PORTUGAL 2.42
Total 15,399.62 29,256.00 89.98
DOC-NIC

Department of Commerce
Export Import Data Bank
Import :: Commodity-wise all countries

Dated: 25/4/2011
Sorted on values of year 2006-2007

Commodity: 9102 WRIST-WTCHS,POCKT-WTCHS & OTHR WTCHS,INCL STOP-WTCHS,EXCL THOSE


OF HDG NO.9101 Unit:
S.No. Country Values in Rs. Lacs Quntity in thousands

2006- 2006-
2005-2006 %Growth 2005-2006 %Growth
2007 2007
1. SWITZERLAND 4,590.90 6,463.74 40.79
2. CHINA P RP 1,773.47 3,288.16 85.41
3. HONG KONG 1,941.13 1,883.91 -2.95
4. JAPAN 416.16 340.67 -18.14
5. PHILIPPINES 364.64 279.89 -23.24
6. TAIWAN 0.48 262.15 54,142.42
7. U ARAB EMTS 113.19 102.68 -9.28
8. UK 26.20 83.58 218.96
9. UNSPECIFIED 1.32 37.02 2,694.46
10. FRANCE 34.74 31.32 -9.86
11. NETHERLAND 22.36
12. RUSSIA 17.76 22.27 25.42
13. SINGAPORE 10.34 15.67 51.50
14. NETHERLANDANTIL 14.97
15. AUSTRIA 1.04 9.74 832.55
16. CHILE 8.25
17. U S A 16.27 6.57 -59.61
18. SPAIN 0.87 6.16 611.59
19. GERMANY 16.46 5.10 -69.02
20. AUSTRALIA 4.34
21. SWEDEN 1.02 2.22 117.43
22. THAILAND 7.02 1.47 -79.04
23. DENMARK 0.62
24. KOREA RP 11.46 0.61 -94.67
25. JAMAICA 0.59
26. ITALY 0.10 0.36 249.16
27. LUXEMBOURG 0.25
28. CZECH REPUBLIC 0.05 0.08 65.94
29. ISRAEL 0.03 0.07 141.39
30. SRI LANKA DSR 0.00 0.03 873.53
31. SURINAME 0.02
32. KOREA DP RP 0.01
33. INDONESIA 6.59
34. IRAN 0.01
35. BANGLADESH PR 0.62
36. CANADA 0.00
37. SOUTH AFRICA 0.01
38. MALAYSIA 17.48
39. KUWAIT 0.01
40. ROMANIA 0.15
Total 9,369.56 12,894.89 37.63

DOC-NIC