Monday, 23rd May 2005 (4355 views)

Indian consumers are increasingly using watches as a sign of status, rather than simply to tell the time.

Watches are now offering more than just the time with multi-settings, gold and diamond features and alarms all included, according to New Ind Press.

Hi-tech gadgetry and ornate jewellery-like designs are proving popular with the wristwatch market now worth close to 50 million pieces a year and Rs 1,500 crore in the country.

Key companies behind the boom are Tata group company Titan and several Indian and foreign brands such as HMT.

A typical example of the luxury appeal of the timepieces is the Swatch group company Rado, which has created the gold and diamond Diastar, priced at Rs 32 lakh.

Sanjay Hans of Lalchand Jewellers, sole distributor of Swatch group brands in Orissa, said: "Selling luxury watches makes a lot of sense, particularly for jewellers."

He explained the more expensive the watch is the more likely it is to be used as a piece of jewellery and used to add credibility.

 

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