Explore Business Standard
Watches
The bling is back, but the war in the Persian Gulf has tarnished the outlook for the luxury watch industry - the ultimate in bling. Starting Tuesday, Geneva hosts the annual "Watches and Wonders" fair, a premiere gathering in an industry eager for a rebound after two years of market contraction, hopefully including sales in oil-rich Gulf Arab countries. The US and Israeli war against Iran that began February 28, however, has had a sweeping impact on the global economy: Driving up energy prices, stalling shipments of fertiliser, disrupting air travel, among other things. High-end watches have not been spared. Soaring prices for precious metals like gold and silver over the last year and US President Donald Trump's Liberation Day tariffs launched a year ago - while down from peak levels - already affected the market. Now, renewed inflation pressures and doubts about consumer confidence are throwing new uncertainty into the market that generates tens of billions of dollars in revenue
Casio India has commenced the sale of its locally manufactured watch models, which will not only deepen its footprint here but also mark a strategic step for its long-term vision for the Indian market. The company, part of the Japan-based Casio Computer Co Ltd, has started the sale of its three locally manufactured models through a third party, and several more watch models are in the pipeline. Earlier in September 2023, Casio had announced plans to start local manufacturing of watches in India, which is a priority market for the company. "This milestone aligns with Casio's efforts to enhance product availability, support national manufacturing goals, and respond more intuitively to Indian consumer preferences," said a statement from Casio India. Casio, which entered into the Indian market in 1996, said the decision to "Make in India" is both a strategic and symbolic step that enables the brand to become more agile and responsive in a market that continues to evolve rapidly in term
Leading jewellery and watchmaker Titan on Friday reported a 20 per cent growth in standalone revenue for the second quarter ended September 30, 2023. During the period, it added 81 stores across verticals, taking the group's retail presence to 2,859 outlets, according to a quarterly update by Titan. Its jewellery division reported a revenue growth of 19 per cent. Building on the positive first quarter momentum, domestic consumer sales (secondary) exhibited strong year-on-year growth and were led by double-digit increase in buyers and ticket sizes. Moreover, as part of its global expansion, its jewellery brand Tanishq expanded its Gulf Cooperation Council (GCC) presence by entering Qatar and adding two new boutiques in Doha. The Jewellery Division added 39 stores, taking the total count to 598. The Watches & Wearables (W&W) Division's domestic business grew 32 per cent. This comprises 22 per cent growth in the Analog watches and over two-fold growth in Wearables. "The Wearables
Leading Japanese consumer electronics maker Casio would start local manufacturing of watches by the end of this year in India, which is a priority market for the company, a top company official said on Wednesday. The company is working with a local partner here, where quality evaluation is going on and expects to launch its first Made-in-India range of watches by the end of this year, said Casio India, Managing Director Hideki Imai. "We expect this to happen before the end of this year," Imai told PTI. Casio is encouraged by its sales in India in the last financial year that ended on March 31, 2023, recording a high double-digit growth in revenue numbers and the highest operating profit. "We are prioritising the Indian market, which has the highest growth potential. India has the highest number of youth, below 35 years and we have recognised that fact. We are optimistic about growing the business here in India," said Imai adding the parent company expects the India unit to deliver