India has emerged among the top three global markets for The Swatch Group’s Tissot, just behind China and the US and overtaking traditional strongholds France and Switzerland, as the Swiss watchmaker doubles down on a fast-growing base of young luxury consumers.
Sales in India have grown over 35% annually in the last three years, according to Sylvain Dolla, Tissot’s global chief executive officer. Sales of the watch brand spiked 43% year-on-year in April.
“India is ahead of France and Switzerland, which are historical markets where we are very successful,” Dolla told Mint in an interview. “Now, India ranks third for Tissot, just behind China and the US, and the growth we enjoy in India makes me feel that the sky is the limit.”
Dolla said Tissot’s India strategy is not opportunistic or reactionary amid slowing demand in China and volatility in the global luxury markets. Instead, the company’s two-decade-old local presence, including an India subsidiary, local teams, and retail partnerships built long before India became a luxury hotspot.
The brand, known globally for collections such as the PRX, Seastar, and PR100, has also expanded aggressively across channels in India. Tissot currently operates over 430 points of sale in the country, including 25 franchise boutiques, while also pushing deeper into e-commerce through partnerships with Tata CLiQ and an upcoming expansion on Amazon marketplace alongside its own online store.
India’s premium watch market is seeing a sharp rise in demand from younger buyers in their 20s and 30s, particularly in the accessible luxury segment where Tissot is strongly positioned. India’s Swiss watch market crossed ₹3,500 crore for the first time in calendar year 2025, according to The Federation of the Swiss Watch Industry FH.
Industry executives say aspirational consumers are increasingly treating Swiss watches not merely as accessories but as collectibles and status markers.
“Luxury in India is maturing, and with that comes stronger demand, deeper education and significantly higher expectations around service, authenticity and experience,” said Raahuul Kapoor, founding partner at luxury brand consultancy Luxury Ampersand Frolics Group.
For Tissot, whose core price range globally sits between roughly in the CHF 300-1,000 range (about ₹36,000-1,22,000), India’s premiumization wave appears to align closely with its strategy. The company sees itself occupying a “value luxury” sweet spot at a time when consumers are becoming more price conscious even as they trade up.
“We strongly believe in this price segment,” Dolla said. “There is no brand that offers the value that Tissot offers, bringing the high quality of Swiss watch standards, while remaining accessible to millions of people.”
Earlier this week, India’s largest organized watch retailer Ethos' managing director and CEO Pranav Saboo told Mint that the sub- ₹1 lakh watch category, once thought to be most vulnerable to smartwatches, is now opening up again.
Young consumers
Much of Tissot’s momentum in India is being driven by younger consumers entering the luxury market for the first time. According to Dolla, the company’s internal studies show that consumers aged 18-34 form the most important demographic globally for Swiss watches, a trend mirrored strongly in India. The PRX range, which includes several entry-level models, is especially popular among these consumers.
Indian consumers are no longer dramatically different from global buyers, particularly among digitally-connected younger demographics. Apart from a stronger preference for rose-gold finishes in India, Dolla said purchasing behaviour across markets is becoming increasingly similar due to social media and global digital culture.
That said, Tissot still faces competition on multiple fronts.
The rise of smartwatches continues to shape wristwear habits among younger consumers, while strong domestic players and grey-market imports are the persistent challenges in India’s luxury watch ecosystem. In India, Tissot's key rivals include Titan apart from Seiko, Citizen, Longines, Hamilton and Casio in the affordable luxury and premium watch segment.
Dolla acknowledged that many young consumers initially gravitate toward digital wearables, but argued there was growing awareness around mechanical watches and Swiss craftsmanship. He pointed to rising interest in automatic variants of the PRX as evidence that Indian buyers are increasingly appreciating traditional watchmaking.
“We have to communicate more and more about the product itself, about the savoir-faire (French for mastery) and the production process,” he said.
Global uncertainty
Tissot’s bullishness on India also comes at a time of heightened geopolitical and economic uncertainty globally. Luxury brands continue to grapple with slowing demand in China, currency fluctuations, and disruptions linked to conflicts in regions such as the United Arab Emirates.
Yet, Dolla struck an optimistic note, describing instability as the “new norm” for global business rather than an existential threat. “In the last six years alone, there was covid-19 outbreak, then the Chinese real estate crisis, then the Russia-Ukraine war, and now tensions in the Middle East,” he said. “We should not panic. We should consistently invest, innovate, and move fast.”
As for India, it remains insulated by sheer scale, demographics, and domestic consumption momentum, he said.
The company claimed it has deliberately avoided passing on the full impact of Swiss franc appreciation to Indian consumers, even keeping some products cheaper in India than in Switzerland on an ex-tax basis.
Still, challenges remain. Dolla admitted India’s retail infrastructure for premium watches historically lagged global standards, particularly in merchandising and in-store presentation. While he said retail partners had improved significantly in recent years, he described retail excellence and distribution quality as continuing areas of focus.
For now, however, the mood at Tissot remains decisively expansionary. “For Tissot, India’s growth story is now big enough to be compared with China.”