The liberalization of markets, rising disposable income, exposure to western lifestyle and the need for the new generation to establish an identity for themselves, are some of the reasons for the growth of the luxury watch category in India. The market for luxury watches was estimated to be 3% of the retail clock, and has been held annually at almost 20%, which is more than double the growth rate of the overall market. Heritage, glamor and technology were a combination of factors that were associated … Read more »

The liberalization of markets, rising disposable income, exposure to western lifestyle and the need for the new generation to establish an identity for themselves, are some of the reasons for the growth of the luxury watch category in India. The market for luxury watches was estimated to be 3% of the retail clock, and has been held annually at almost 20%, which is more than double the growth rate of the overall market. Heritage, glamor and technology were a combination of factors that were associated with luxury watch brands universally.While there were several global brands of watches in India marketed in different price ranges, the challenge for a leading Indian company Titan Industries, which had made rapid progress in the clock market in the last two decades has been the successful launch of a luxury watch brand. Manoj Chakravarti, Senior Advisor, Titan Industries reflects on his 28 years in the watch industry, both in India and abroad, and looked about Xylys, titanium premium watch brand and its foray into the Indian market. He had formulated several aspects of the marketing mix strategies in the past to various kinds of challenges. Xylys was a premium watch brand from Titan a few years ago, the brand was aimed at creating a unique perception of the consumer. There were several interesting possibilities for Chakravarti to consider. Would be sufficient conventional positioning approach? Was it necessary to get some knowledge about the application of the uniqueness aspect of self-perception of the consumer? How were those aspects of uniqueness in relation to other established brands? How important was the “Swiss made” label? The buyers and prospects of premium watches do not hold any specific stereotypical images of these watches? How does the self-concept of the consumer luxury watch brands matter? The case delves into behavioral concepts that are important from the perspective of brand perception of luxury brands.
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from
S. Ramesh Kumar,
Kasturi Baral
Source: Indian Institute of Management Bangalore
15 pages.
Release Date: 1 October 2011. Prod #: IMB349-PDF-ENG
XYLYS: Exploring Consumer Perception on premium watches in the Indian context HBR case solution

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