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Executive Summary

The report titled ‘India Watch Industry Outlook to 2018 – Premium Segment and Online Retail to Lead the Growth’ provides a comprehensive analysis of the various aspects such as market size, segmentation, trends and developments and future projections of the mass, mid and premium price wrist watches as key segments of the market. The report provides the market share of the major brands and company profiles of key players/ brands in all the major segments (mid, affordable luxury, luxury and super luxury) The report also covers the online watch industry and wall clock segment in India and provides market size and future projections of economy, mid and premium price wall clocks as three segments of the wall clock industry in the country.

The Indian watch market for timepieces has grown at a rapid pace in the past few years clocking a CAGR of 9.3% for the period FY’2008-FY’2013. The market for timepieces includes wrist watches, table clocks, alarm clocks and wall clocks. But the market for wrist watches formed the major proportion of the market for time pieces with a contribution of about 89% in the total watch market in the country by revenue while the market for wall clocks formed the rest of the market share of 11% in FY’2013.
The wristwatch market has grown in terms of value from INR 33,731.0 million in FY’2008 to INR ~ million in FY’2013. The wrist watches market in India can be classified into three broad categories based on price. The first is the mass price segment consisting of watches priced lower than INR 1,000 which are mainly the wrist watches sold by the unorganized players. The second category is the mid price segment of watches priced between INR 1,000 and INR 10,000. The third is the premium watch segment with watches priced above INR 10,000.

In India, the mass segment of watches contributes the highest to the market in terms of volume. On the other hand, in terms of value, each of the mass and the mid price segments contribute about 37%-38% to the total wristwatch market in India. The rest is contributed by the premium segment which constitutes around 25% of the INR ~ million wristwatch industry in India.

The premium wrist watch market has been the fastest growing segment in the Indian wrist watch industry during FY’2008-FY’2013. As the size of the population with high disposable income has increased significantly over the past years, the demand for luxury goods have substantially increased in the country. The premium segment wristwatch market in India can be further subdivided into three price categories. In value terms, the Affordable luxury wristwatch segment has the highest market share of about 44% in the premium wristwatch market in India. The main consumers of this segment of watches are the rising urban population with higher spending capacity. This segment is expected to more than double from about ~ million in FY’2013 to about ~ million in FY’2018 by experiencing a high growth at a CAGR of 23.3 % in the period FY’2014-FY’2018.

The luxury segment is the premium wrist watch segment which includes wrist watches priced between INR 0.1 million and INR 1.0 million. Rolex is the leading brand in this segment and accounts for ~% of the watch sales. This is followed by Swatch Group owned Omega which contributes ~% to the affordable luxury segment. Rado again owned by Swatch Group is the fourth largest selling brand and accounts for ~% of the volume sales of the luxury watch segment in India. The super luxury segment is also expected to experience a significant increase in the value on account of rise in the number of billionaires in the country in coming years. This market is expected to grow at a CAGR of about 16.7% in the period FY’2013-FY’2018. The market will grow from INR ~ million in FY’2014 to about INR ~ million in FY’2018.

The online retail in India has expanded tremendously in recent years. This growth has also been witnessed in the wristwatch segment of the online retail. The primary reason behind the huge growth of the online retail market for wrist watches is the huge increase in the number of internet users in the country owing to the rising internet penetration. In FY’2013 the online retailer market for wrist watches was characterized by a few e-commerce websites holding around 92.0% of the market share in the online retail wristwatch segment. The market is majorly dominated by the five e-commerce players Snapdeal, Flipkart, Watchkart, Jabong and Myntra. The online retail market for wrist watches is expected to clock a CAGR of 54.0% for the period FY’2013-FY’2018. The size of the wristwatch segment of online retail is expected to grow from around INR ~ million in FY’2013 to about INR ~ million in FY’2018.

The wall clock industry in India has grown from about INR 4,188.0 million in FY’2008 to INR ~ million in FY’2013. The growth in market in the value terms is mainly driven by sales of the wall clocks brands such as Ajanta, Sonera Industries, Opal, Sonam Quartz and Samay. The premium wall clock segment is the fastest growing segment in the wall clock market in India and has grown at a CAGR of 12.3% in the period FY’2008-FY’2013.

Key Topics Covered in the Report:

- The market size of the India watches industry by value.
- The market segmentation of the watches industry by wrist watches and wall clocks.
- The market size and future projections of the wrist watch market in India by value.
- Market segmentation of the wrist watch market on the basis of price.
- Market size and future projections of the mass, mid and premium price wrist watch segments.
- Market share of major players in the mass, mid and premium price wrist watch segments.
- Market shares of major players in affordable luxury segment and major brands in luxury and super luxury premium watch segments on the basis of unit sales.
- Market share of major players in the overall India wrist watch market on the basis of revenue.
- Trends and developments in the wrist watch market in India.
- Market size and future projections of the wall clock industry in India by value.
- Market segmentation of the wall clock industry on the basis of price.
- Market size and future projections of the economy, mid and premium price wall clock segments.
- Market size and future projections of the online wrist watch market by value.
- Market segmentation of the online wrist watch market on the basis of price.
- Market share of major e-commerce websites in India online wrist watch market.

Table Of Contents

India Watch Industry Outlook to 2018 - Premium Segment and Online Retail to Lead the Growth, Ken Research Private
TABLE OF CONTENTS

1. India Watch Market Introduction
2. India Watch Market Size by Revenue, FY'2008- FY'2013
3. India Watch Market Segmentation by Wrist Watches and Wall Clocks, FY'2008- FY'2013
4. India Wrist Watch Market Introduction and Market Size by Revenue, FY'2008- FY'2013
5. India Wrist Watch Market Segmentation by Organized and Unorganized, FY'2008- FY'2013
6. India Wrist Watch Market Segmentation by Price, FY'2008-FY'2013
6.1. India Mass Wrist Watch Market Introduction and Market Size, FY'2008- FY'2013
6.1.1. Market Share of Major Players in India Mass Wrist Watch Market, FY'2013
6.2. India Mass Wrist Watch Market Future Projections, FY'2014- FY'2018
6.3. India Mid Wrist Watch Market Introduction and Market Size, FY'2008- FY'2013
6.3.1. Market Share of Major Players in India Mid Wrist Watch Market, FY'2013
6.4. India Mid Wrist Watch Market Future Projections, FY'2014-FY'2018
6.5. India Premium Wrist Watch Market Introduction and Market Size, FY'2008- FY'2013
6.6. India Premium Wrist Watch Market Segmentation by Price, FY'2008- FY'2013
6.6.1. India Affordable Luxury Wrist Watch Market Size and Future projections, FY'2008- FY'2018
6.6.2. Market Share of Major Players In India Affordable Luxury Segment Wrist Watch Market, FY'2013
6.6.3. India Luxury Wrist Watch Market Size and Future Projections, FY'2008-FY'2018
6.6.4. Market Share of Major Brands In India Luxury Wrist Watch Market, FY'2013
6.6.5. India Super Luxury Wrist Watch Market Size and Future projections, FY2008- FY'2018
6.6.6. Market Share of Major Brands In India Super Luxury Segment Wrist Watch Market, FY'2013
6.7. India Premium Wrist Watch Market Future Projections, FY'2014-FY'2018
7. India Wrist Watch Market Segmentation by Gender, FY'2013
8. India Wrist Watch Market Segmentation by Type of Watch Movement (Analog, Digital and Mechanical), FY'2013
9. Market Share of Major Players in India Wrist Watch Market, FY'2013
10. India Online Wrist Watch Market Introduction and Market Size by Revenue, FY'2011- FY'2013
10.1. India Online Wrist Watch Market Segmentation on the basis of Price, FY'2013 and FY'2018
10.2. Market Share of Major E-Commerce Websites in India Online Wrist Watch Market, FY'2013
10.3. India Online Wrist Watch Market Future Outlook and Projections, FY'2014- FY'2018
10.3.1. Cause and Effect Relationship between Dependent and Independent variables Present in the India Online Wrist Watch Market
11. India Wrist Watch Market Trends and Developments
11.1. Watch Companies Trends
Indian Watch Market Flooding with ‘Swiss made' Brands
Watch Companies Focussing on Youth Segment Wrist Watches
Growing Presence of Organized Players in the Mass Segment Watches
Premium Watch Brands Expanding Reach to Small Towns
International Brands Customizing Watch Designs for Indians
Increasing High Impact Marketing Campaigns
11.2. Consumer Trends
Increasing Demand for Utility Wrist Watches
Shifting Consumer Preference for Mechanical Watches
11.3. Retailers Trends
Increasing Retail Space for Wrist Watches
Retailers Spending Heavily on Advertising and EMI Schemes
12. Government Regulations
12.1. Role of Government in Establishing India as a Manufacturing Hub
12.2. FDI in Retail Restrictions
12.3. Excise and Custom Duties
13. India Wrist Watch Retail Market Competitive Landscape, FY'2013
14. India Wrist Watch Market Future Outlook and Projections, FY'2014- FY'2018
14.1. Cause and Effect Relationship between Dependent and Independent Factors prevailing in the India Wrist Watch Market
14.2. Future Projections, FY'2014-FY'2018
15. Company Profiles of Major Players in the India Wrist Watch Industry
15.1. Titan
15.1.1. Company Overview
15.1.2. Business Strategy
Focus on Restructuring of Watch Business
Introductionof Watch Collections in All the Major Price Segments
Endorsements From Celebrities for Brand Promotions
Increasing Presence in Premium Segment
15.1.3. Financial Performance
15.2. Swatch Group
15.2.1. Company Overview
15.2.2. Business Strategy
Largest Variety of Premium Watch Brands
Opening More Exclusive Boutiques and Distribution through Multi-Brand Outlets
Celebrity Endorsements for High Brand Recognition
15.2.3. Financial Performance
15.3. Timex
15.3.1. Company Overview
15.3.2. Business Strategy
Increasing Online Presence
Consolidation of the Business
Wide Range of Watches in Different Price Segments
15.3.3. Financial Performance
15.4. Seiko
15.4.1. Company Overview
15.4.2. Business Strategy
Brand Promotions by Associating with Sports Events
Expansion of the Point of Sales
15.4.3. Financial Performance
15.5. Citizen
15.5.1. Company Overview
15.5.2. Business Strategy
Product Differentiation by Innovation in Green Technology
Celebrity Brand Endorsement and Promotional Offers
15.5.3. Financial Performance
15.6. Casio
15.6.1. Company Overview
15.6.2. Business Strategy
Adjusting Technology to Latest Trends
Distinguishing the Target Population for Sub-brands
15.6.3. Financial Performance
15.7. LVMH
15.7.1. Company Overview
15.7.2. Business Strategy
Brand Communications through Regional Media
Exclusive Indian Designs
15.7.3. Financial Performance
15.8. Maxima
15.8.1. Company Overview
15.8.2. Business Strategy
Affordable Wrist Watches for Masses
15.8.3. Financial Performance
16. India Wall Clock Market Introduction
16.1. India Wall Clock Market Size by Revenue in INR million, FY'2008- FY'2013
16.2. India Wall Clock Market Segmentation by Organizational Structure, FY'2013
16.3. India Wall Clock Market Segmentation by Price, FY'2008- FY'2013
16.3.1. India Economy Wall Clock Market Size And Future Projections, FY'2008- FY'2018
16.3.2. India Mid Wall Clock Market Size And Future Projections, FY'2008- FY'2018
16.3.3. India Premium Wall Clock Market Size And Future Projections, FY'2008- FY'2018
16.4. India Wall Clock Market Segmentation By Type of Clock, FY'2008- FY'2013
16.5. India Wall Clock Market Future Outlook and Projections, FY'2014- FY'2018
16.5.1. Cause and Effect Relationship between Dependent and Independent Variables Affecting India Wall Clock Market
17. India Watch Market Future Outlook And Projections, FY'2014-FY'2018
18. Macro Economic and Industry Factors: Historicals and Projections
18.1. Gross Domestic Product, FY'2008- FY'2018
18.2. Population, FY'2008-FY'2018
18.3. Shipments of Mobile Phones, FY'2008- FY'2018
18.4. Size of Retail Market in India, FY'2008-FY'2018
18.5. Average Price of Premium Segment Wristwatch, FY'2008- FY'2018
18.6. Size of Working Population in India, FY'2008- FY'2018
19. Appendix
19.1. Market Definitions
19.2. Abbreviations
19.3. Research Methodology
Data Collection Methods
Approach
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Final Conclusion
19.4. Disclaimer


LIST OF FIGURES

Figure 1: India Watch Market Size on the Basis of Revenue in INR Million, FY'2008- FY'2013
Figure 2: India Watch Exports and Imports on the Basis of Value in INR Million, FY'2008-FY'2013
Figure 3: India Watch Market Segmentation by Wrist Watch and Wall Clocks on the Basis of Revenue in Percentage (%), FY'2008- FY'2013
Figure 4: India Wrist Watch Market Size on the Basis of Revenue in INR Million, FY'2008- FY'2013
Figure 5: India Wrist Watch Market Segmentation by Organized and Unorganized Sector on the Basis of Revenue in Percentage (%), FY'2008- FY'2013
Figure 6: India Wrist Watch Market Segmentation by Organized and Unorganized Sector on the Basis of Volume Sales in Percentage (%), FY'2008 and FY'2013
Figure 7: India Wrist Watch Market Segmentation by Price on the Basis of Revenue in Percentage (%), FY'2008- FY'2013
Figure 8: India Wrist Watch Market Segmentation by Price on the Basis of Volume Sales in Percentage (%), FY'2013
Figure 9: India Mass Wrist Watch Market Size on the Basis of Revenue in INR Million, FY'2008- FY'2013
Figure 10: Market Share of Major Brands in the Mass Segment Wrist Watch Market on the Basis of Revenue, FY '2013
Figure 11: India Mass Wrist Watch Market Future Projections on the Basis of Revenue in INR Million, FY'2014-FY'2018
Figure 12: India Mid Price Wrist Watch Market Size on the Basis of Revenue in INR Million, FY'2008-FY'2013
Figure 13: Market Share of Major Players in India Mid Price Wrist Watch Market by Revenue in Percentage (%), FY'2013
Figure 14: India Mid Price Wrist Watch Market Future Projections on the Basis of Revenue in INR Million, FY'2014-FY'2018
Figure 15: India Premium Wrist Watch Market Size by Revenue in INR Million, FY'2008- FY'2013
Figure 16: Indian Premium Segment Wrist Watch Market Segmentation on the Basis of Price by Revenue in Percentage (%), FY'2013
Figure 17: India Affordable Luxury Wrist Watch Market Size by Revenue in INR Million, FY'2008- FY'2013
Figure 18: India Affordable Luxury Wrist Watch Market Future Projections by Revenue in INR Million, FY'2014-FY'2018
Figure 19: Market Share of Major Players in India Affordable Luxury Premium Wrist Watch Market on the Basis of Unit Sales in Percentage, FY'2013
Figure 20: Indian Luxury Wrist Watch Market Size by Revenue in INR Million, FY'2008- FY'2013
Figure 21: Indian Luxury Wrist Watch Market Future Projections by Revenue in INR Million, FY'2014-FY'2018
Figure 22: Market Share of Major Brands in India Luxury Premium Wrist Watch Market on the Basis of Unit Sales in Percentage, FY'2013
Figure 23: Indian Super Luxury Wrist Watch Market Size by Revenue in INR Million, FY'2008- FY'2013
Figure 24: India Super Luxury Wrist Watch Market Future Projections by Revenue in INR Million, FY'2014- FY'2018
Figure 25: Market Share of Major Brands in India Super Luxury Premium Wrist Watch Market on the Basis of Unit Sales in Percentage, FY'2013
Figure 26: India Premium Wrist Watch Market Future Projections by Revenue in INR Million, FY'2014-FY'2018
Figure 27: Number of Shopping Malls in India in Units, FY'2008- FY'2018
Figure 28: India Wrist Watch Market Segmentation by Gender on the Basis of Volume Sales in Percentage (%), FY'2013
Figure 29: India Wrist Watch Market Segmentation by Watch Movement on the Basis of Volume Sales in Percentage (%), FY'2013
Figure 30: India Wrist Watch Market Segmentation Future Projection by Watch Movement on the Basis of Volume Sales by Percentage (%), FY'2018
Figure 31: Market Share of Major Watch Players in the India Organized Wrist Watch Market by Revenue in Percentage (%), FY'2013
Figure 32: India Online Wristwatch Market Size on the Basis of Revenue in INR Million, FY'2011- FY'2013
Figure 33: India Online Wristwatch Market Segmentation by Price on the Basis of Revenue in Percentage (%), FY'2013 and FY'2018
Figure 34: India Online Wristwatch Market Share of Major E-Commerce Websites on the Basis of Revenue in Percentage (%), FY'2013
Figure 35: India Online Wrist Watch Market Future Projections on the Basis of Revenue in INR Million, FY2014- FY'2018
Figure 36: Number of Internet Users in India in Million, FY'2008- FY'2018
Figure 37: India Wrist Watch Market Future Projections on the basis of Revenue in INR Million, FY'2014- FY'2018
Figure 38: Titan Industries Watch Division Net Sales Revenues in INR Million, FY'2008- FY'2013
Figure 39: Swatch Group's Equity Capital in Swatch Group India Pvt Ltd in INR Million, 2007-2012
Figure 40: Timex Group India Annual Revenue in INR Million, FY2008-FY'2013
Figure 41: Seiko Watch Corporation Annual Revenues in INR Million, FY2009-FY'2011
Figure 42: LVMH Annual Sales Revenue in INR Million, 2007-2012
Figure 43: India Wall Clock Market Size on the Basis of Revenue in INR Million, FY'2008- FY'2013
Figure 44: Indian Wall Clock Market Segmentation by Organizational Structure on the Basis of Revenue in Percentage (%), FY'2013
Figure 45: Indian Wall Clock Market Segmentation Future Projection by Organizational Structure on the Basis of Revenue in Percentage (%), FY'2018
Figure 46: India Wall Clock Market Segmentation by Price on the Basis of Revenue in Percentage (%), FY'2008- FY'2013
Figure 47: India Economy Wall Clock Market Size by Revenue in INR Million, FY'2008- FY'2013
Figure 48: India Economy Wall Clock Market Future Projections on the Basis of Revenue in INR million, FY'2014-FY'2018
Figure 49: India Mid Price Wall Clock Market Size on the Basis of Revenue in INR Million, FY'2008- FY'2013
Figure 50: India Mid Price Wall Clock Market Future Projections on the Basis of Revenue in INR million, FY'2014-FY'2018
Figure 51: India Premium Wall Clock Market Size on the Basis of Revenue in INR Million, FY'2008- FY'2013
Figure 52: India Premium Wall Clock Market Future Projections by Revenue in INR Million, FY'2014-FY'2018
Figure 53: India Wall Clock Market Segmentation by Type of Clock on the Basis of Volume Sales in Percentage (%), FY'2013
Figure 54: India Wall Clock Market Segmentation Future Projection by Type of Clock on the Basis of Volume Sales in Percentage (%), FY'2018
Figure 55: India Wall Clock Market Future Projections by Revenue in INR Million, FY'2014-FY'2018
Figure 56: India Watch Market Future Projections by Revenue in INR Million, FY'2014- FY'2018
Figure 57: India Gross Domestic Product at Current Prices in INR Billion, FY'2008-FY'2018
Figure 58: India Population in Million, FY'2008- FY'2018
Figure 59: India Shipments of Mobile Phones in Million, FY'2008- FY'2018
Figure 60: India Size of Retail Market in INR Billion, FY'2008- FY'2018
Figure 61: India Premium Segment Wristwatch Average Prices in INR, FY'2008- FY'2018
Figure 62: India Size of Working Population in Million, FY'2008-FY'2018



LIST OF TABLES

Table 1: India Watch Market Segmentation by Wrist Watches and Wall Clocks on the Basis of Revenue in INR Million, FY'2008-FY'2013
Table 2: India Wrist Watch Market Segmentation by Organized and Unorganized Sector on the Basis of Revenue in INR Million, FY'2008- FY'2013
Table 3: India Wrist Watch Market Segmentation on the Basis of Organized and Unorganized Sector by Volume Sales in Million Pieces, FY'2008 and FY'2013
Table 4: India Wrist Watch Market Segmentation by Price on the Basis of Revenue in INR Million, FY'2008-FY'2013
Table 5: India Wrist Watch Market Segmentation on the Basis of Price by Volume Sales in Million Pieces, FY'2008 and FY'2013
Table 6: India Mass Segment Wrist Watch Market on the Basis of Volume Sales in Million Pieces, FY'2008 and FY'2013
Table 7: India Mid Segment Wrist Watch Market on the Basis of Volume Sales in Million Pieces, FY'2008 and FY'2013
Table 8: India HNWI Population in Persons, 2007-2012
Table 9: India Premium Segment Wrist Watch Market on the Basis of Volume Sales in Million Pieces, FY'2008 and FY'2013
Table 10: India Swiss Watch Imports on the Basis of Value in INR Million, FY'2008-FY'2013
Table 11: Key Performance Indicators of the Major Brands Present in the India Affordable Luxury Wrist Watch Market and their Price Range in INR, FY'2013
Table 12: Key Performance Indicators of Major Brands Present in the India Luxury Wrist Watch Market and their Price Range in INR, FY'2013
Table 13: Key Performance Indicators of the Major Brands present in the India Super Luxury Wrist Watch Market and their Price Range in INR, FY'2013
Table 14: India Online Wrist Watch Market Segmentation on the Basis of Price by Revenue in INR Million, FY'2013 and FY'2018
Table 15: Key Performance Indicators of Major Players in India Online Watch Market, FY'2013
Table 16: Cause and Effect Relationship Analysis between Industry Factors and Expected Online Wrist Watch Market Prospects in India
Table 17: Competitive Landscape of Major Retailers in India Wrist Watch Market, FY'2013
Table 18: Cause and Effect Relationship Analysis between Industry Factors and Expected Wrist Watch Industry Prospects in India
Table 19: Number of Retail Stores Owned by Titan under the Brands of World of Titan, Helios and Fastrack
Table 20: Major Distribution Channels of Titan in India and Abroad, FY'2014
Table 21: Major Watch Collections Owned by Titan and their Price Segments, FY'2013
Table 22: Major Watch Brands Owned by Titan and Endorsed by Celebrities
Table 23: Major Watch Brands Owned by Swatch Group and their Price Segments, FY'2013
Table 24: Major Watch Brands Owned by Swatch Group and Endorsed by Celebrities
Table 25: India Sales Revenue for Major Watch Brands of Swatch Group in INR Million, FY'2013
Table 26: Major Watch Brands Owned and Licensed by Timex Group and their Price Segments, FY'2013
Table 27: India Wall Clock Market Segmentation on the Basis of Price by Revenue in INR Million, FY'2008-FY'2013
Table 28: Cause and Effect Relationship Analysis between Industry Factors and Expected Wall Clock Market Prospects in India
Table 29: Correlation Matrix for Mid Price Wrist Watch Market in India
Table 30: Regression Coefficients Output

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