Swiss luxury watchmaker Omega unveiled precious timepieces from the Ladymatic series in Hyderabad today and plans to take this pan-India.
The Omega exhibits a blend of grace and timeless design. The timepieces are steel and gold collections and priced in the range of Rs 3.3 lakh to Rs 18 lakh.
The Ladymatic ensemble has been displayed at the Omega boutique in league with the Swiss watch boutique The Helvetica.
P. H. Narayanan, Brand Manager, Omega, told Business Line that the steel and gold collections are targeted at young affluent people in big cities like Hyderabad.
The range will be displayed later in Chennai and Bangalore.
The Ladymatic range features watches made in red gold, mother of pearl. They come in metal bracelet form, leather and other models.
Narayanan said that the Indian luxury watch market is estimated to be more than Rs 800 crore and is growing at a healthy double digit rate. This is a general estimate as there is no study to show the exact size of the market.
Ashok Doshi of The Helvetica said that there is latent demand for luxury watches and this segment continues to grow at a healthy rate even though the market conditions are generally tough now. Gifting also contributes to volumes.
The Swatch Group presents its watch-range starting with Swatch at Rs 3000 and above, Tissot at Rs 20,000 and above, Rado at Rs 25,000 plus, Longines at Rs 40,000 to Rs 50,000 and Omega Rs 1 lakh and above range, Narayan said.
Omega has Nicole Kidman as its global brand ambassador and we hope to get here to India some time, Narayanan said.