Why luxury watchmaker Franck Muller wants to expand in India
Subscribe to enjoy similar stories. The design of Franck Muller's recently opened boutique store at Delhi's DLF Emporio Mall clearly reflects what the brand stands for: avant-garde meets innovation meets playfulness. Spread across 1,168 sq.ft, the store, opened in partnership with Kapoor Watch Company, has some of the Swiss watchmaker's iconic watches, like the Vanguard and Master Square, on display, with a Crazy Hours installation in the middle.
“This is our first store in north India (the 1991-born brand has one more exclusive store, in Mumbai's Palladium Mall)," says Erol Baliyan, managing director, (Middle East, Africa and India), at Franck Muller, who was present at the inauguration of the store on 16 September. “We are planning to open another store; we are super focused on India." In a brief chat with Lounge, Baliyan talks about India expansion plans, trends to watch out for, and the new launches. Edited excerpts: I think from a commercial aspect, this was the right time, the right boutique, and the right location.
Everything aligned. Also, it terms of the consumer, now is a great time for a watch brand like Franck Muller. There's growing demand; India is among our top performers.
I think India economy is drastically improving. Disposable income every year is increasing. India is in our top list right now.
Last year, (India's) GDP was $3.5 trillion and luxury consumption had hit $6.6 billion. Watch sales were also high. This is unbelievable growth.
It's not just watch brands, the entire luxury sector is currently eyeing India. We discovered this seven years ago. That's why we started shifting all our attention to Indian market then.
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