Finshots Daily The secret behind India’s luxury watch boom
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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.
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Luxury Watch Boom in India
- India's economic growth fuels spending on luxury goods, including watches.
- Luxury watches are becoming a status symbol and investment, especially among younger generations.
Impact of TEPA
- The Trade and Economics Partnership Agreement (TEPA) between India and Switzerland will reduce customs duties on Swiss watches.
- This deal makes the Indian market attractive for Swiss brands and encourages investment.
Brand Consciousness in India
- Indians are brand-conscious, prioritizing brand image over price when buying luxury watches.
- This preference benefits prestigious Swiss brands like Rolex and Patek Philippe.