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Finshots Daily
The secret behind India’s luxury watch boom
Sep 12, 2024
Explore the boom in India’s luxury watch market, driven by rising incomes and shifting tastes. Discover how millennials and affluent buyers view luxury watches as investment assets. Learn about the dynamics of watch investment, where patience is key for appreciation. Find out why the enjoyment of these timepieces often goes beyond just financial returns, making them a status symbol and a personal passion.
08:34
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Quick takeaways
- The luxury watch market in India is thriving due to rising incomes, with millennials and Gen Z viewing them as symbols of status and exclusivity.
- The abolishment of customs duties on Swiss watches through a new trade agreement will enhance accessibility and drive demand in the luxury segment.
Deep dives
Luxury Watches as Status Symbols and Investment Assets
The luxury watch market in India is experiencing significant growth, driven by rising incomes and changing consumer behaviors among millennials and Gen Z. For younger consumers, luxury watches symbolize fun, status, and exclusivity, while high net worth individuals view them as valuable investment assets. A report from Nightfrank highlights that luxury watches have emerged as the top investment choice for super-rich Indians, surpassing traditional collectibles like art. With 78% of Indian consumers planning to purchase a watch in the coming year, the market's potential as both a trend and an investment opportunity is clear.
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