India poised to lead the post-pandemic luxury watch market, says Indian Watch Connoisseur

Citing India's growing economy, rising disposable income, and increasing interest in luxury brands as key factors. Following the post-pandemic demand recovery, ‘India is emerging as the top market for luxury watches’, says Indian Watch Connoisseur.

A report titled ‘The Wealth Report: Outlook 2023’ by Knight Frank, has revealed that among ultra-high-net-worth individuals, Indians are more inclined to purchase luxury watches as compared to their Asia-Pacific and global peers. The report shows that 53% of Indians are likely to buy luxury watches, which is higher than the percentage of Asia-Pacific (48%) and global counterparts (46%) likely to purchase these watches.

The Knight Frank Luxury Investment Index (KFLII), which tracks the value of 10 investments of passion, rose by a healthy 16% during 2022, comfortably beating inflation and outperforming the majority of mainstream investment classes, including equities and even gold.

‘The Indian Watch Market is expected to exhibit a CAGR of 20.32% during the forecast period of 2022-2028’, according to a report by Mordor Intelligence. With the rising demand for luxury watches in India, major brands have recognized the potential for growth and have invested in expanding their product portfolio to solidify their position in the market. A notable example is Franck Muller's launch of a limited-edition timepiece featuring an Indian-inspired design in October 2022 with their global brand ambassador Ranveer Singh. 

Source: Indian Watch Connoisseur, Instagram

In recent years, there has been a rise in the formation of various communities focused on watches, Indian Watch Connoisseur being the finest example, Indian Watch Connoisseur made its debut in 2020, driven by a passion for luxury timepieces and their aspirational appeal. Initially starting out as an Instagram page focused on providing information and content on watches, it has since evolved into a collective that connects buyers, and, sellers, and an active community of individuals bringing their unique experiences and stories to the community, enriching the world of horology in India on a global scale.