Time is on India’s side: Baume & Mercier CEO

Mumbai: With the India-EFTA trade pact, Swiss luxury watchmakers like Baume & Mercier are increasingly optimistic about investing long-term in India, despite short-term challenges such as a weakened rupee and a strong Swiss franc. Guenoun, the CEO of Baume & Mercier, expressed confidence in the long-term investment prospects, stating that the reduced tariffs under the trade agreement would create a robust foundation for the brand's expansion in the country over the next five years.

India is viewed as one of the fastest-growing major markets for Baume & Mercier, particularly due to its potential compared to China and other parts of Asia. The company already has a significant presence in the country, with around 50 points of sale across 20 cities and strong sales in Mumbai and New Delhi. Baume & Mercier's performance in India has surpassed expectations, driven by its product design, growing women's segment, and versatility in offering a range of watches.

The brand has also strengthened its India focus by appointing two local ambassadors, Janhvi Kapoor and Shreyas Iyer, to showcase its dedication to the market. Indian consumers' preferences seem to lean towards gold aesthetics and an appreciation for automatic and mechanical watches, especially among younger buyers. Guenoun highlighted that Baume & Mercier's strategy has been to focus on differentiation while enhancing quality and features without resorting to aggressive price increases.