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Premium watch retailers make up for lost time by offering discounts

To tide over the disruption, a few players have also started creating websites for digital sales

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Luxury brands have seen some action at higher price points, though they expect overall volumes to fall way below last year’s

Pavan Lall Mumbai

4 min read Last Updated : Jul 23 2020 | 12:11 PM IST

Thrown off-balance by mall closures, austerity measures, and widespread salary cuts and lay-offs across industries, the premium watch industry finds itself shutting down stores, cancelling contracts, and resorting to heavy discounts to clear inventory and drum up sales.

Ethos Watch Boutiques, which runs a chain of 49 high-end stores across the nation, has closed six stores. Two are in Mumbai, with one each in Hyderabad, Indore, Bhopal, and Bengaluru.

The company, which sells everything from Rolex and Breitling to Seiko and Zenith, has started offering discounts. These go as high as 60 per cent on select models, with reduced prices

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