A new wave of affluent buyers in their twenties and early thirties is driving growth in India’s luxury watch market, forcing global brands to reposition for a more aspirational consumer.
The shift comes at a time when rising disposable incomes, a swelling base of high-net-worth individuals and easing import duties under India’s trade pact with the European Union are reshaping the premium timepiece landscape. Lower tariffs on Swiss watches are expected to narrow price gaps, intensify competition and accelerate premiumisation in a market that executives say is expanding rapidly.
The luxury watch market is poised for strong expansion, with annual growth estimated at 11-12%, supported by the country's rising affluent base and growing wealth among high-net-worth individuals (HNIs), according to an October 2025 report by SOIC Research.
The share of luxury and high-end watch sales has jumped from 48% in FY20 to 70% in FY25, indicating that Indian buyers are gravitating toward more exclusive, higher-value brands. The report also revealed a sharp rise in the average selling price of luxury watches, which has more than doubled over five years.
Seiko Watch Corp. is seeing a marked change in its core consumer base. The Japanese watchmaker entered India about two decades ago, with older buyers forming the bulk of its clientele. Today, consumers aged 25–35 account for the majority of its premium sales.
“We’re seeing the shift clearly in our ticket sizes. First-time luxury consumers are increasingly buying watches priced between ₹80,000 and ₹3 lakh in their late twenties and early thirties. In some cases, limited-edition models priced above ₹2 lakh are getting pre-sold even before they arrive in stores,” said Niladri Mazumder, president & COO, Seiko Watch India Pvt. Ltd, in an interview.
Starting affordable luxury
India has become one of Seiko’s fastest-growing international markets in recent years. From being among its lower-performing overseas markets before the pandemic, the country has climbed into its top four global contributors, according to Yoshikatsu Kawada, director and senior executive vice president of Seiko’s global division.
The brand, once positioned as a reliable and relatively affordable watchmaker, has steadily moved into what it calls the ‘affordable luxury’ segment. Its average selling price at exclusive boutiques now stands at around ₹80,000–90,000, underscoring a deliberate premiumisation strategy.
Industry experts say the appeal goes beyond fashion. “Luxury watches have increasingly been viewed as assets with resale value, almost like gold,” said Anuj Sethi, senior director at Crisil Ratings. “Younger consumers are buying mechanical timepieces not just as accessories but as collectables and, in some cases, investments.”
Sethi added that much of the traction lies in what the industry terms a “bridge-to-luxury” category: brands that offer heritage, mechanical innovation and premium finishing at prices below those of top-tier Swiss maisons. “Rising disposable incomes are clearly supporting this trend, but equally important is brand consciousness. A luxury watch is seen as a status symbol,” he said.
The demand is also spreading beyond metros. A significant share of luxury purchases now originates from Tier II and Tier III cities, reflecting broader wealth creation across India, Sethi said.
Looking ahead, Seiko plans to deepen its retail presence not only in large metropolitan markets but also in affluent smaller cities.
Return to innocence
Seiko Watch India reported revenue of ₹253.1 crore in FY25, up about 55% from ₹163.8 crore in FY24, while net profit rose to ₹11.5 crore, a 77% jump from the previous year.
The country’s largest watchmaker, Titan Co. Ltd, is witnessing a back to the basics shift in the client, with younger consumers increasingly driving demand for its mechanical and design-led collections.
While Titan built scale through mass-market and mid-market offerings, it has, in recent years, sharpened its focus on premiumisation.
“We are seeing a clear move toward mechanical watches among younger consumers. For many of them, it is not just about telling time but about owning a piece of craftsmanship,” said Mahendra Chauhan, head of design at Titan, in an interview. “Watches are not priced based on component cost alone; they are priced on the emotional engagement they create.”
Titan’s premium portfolio has seen rising traction in the ₹50,000-and-above price bands, with select limited editions witnessing strong early demand.
According to a PTI report, Titan expects luxury watch demand to accelerate further following India’s trade agreement with the European Union, which will lower import duties on Swiss timepieces over time. The company is targeting $1 billion in watch sales next fiscal and aims to double that to $2 billion by FY30, with premium and Swiss brands expected to contribute a larger share of growth. PTI reported that watches priced above ₹50,000 already account for more than half of sales at Titan’s premium retail formats.
Good times ahead
Titan’s domestic watches division reported revenue of ₹1,250 crore in Q3 FY26, up 13.2% year-on-year. As of December 2025, Titan operated 251 Helios stores and 11 Helios Luxe stores.
Helios is Titan’s multi-brand premium watch retail chain offering international and Indian brands across mid-to-premium price points for aspirational buyers. Helios Luxe is its higher-end boutique format focused on luxury and bridge-to-luxury timepieces, delivering a more elevated retail experience with premium global brands and higher ticket sizes.
Timex is enhancing its premium offerings with the Vector franchise and exclusive models like the ₹24,995 Fria Peekaboo, thereby solidifying its place in the affordable luxury market. Meanwhile, Luxury watch retail chain Ethos reports growing demand for Swiss and high-end brands in India, fuelled by an increase in affluent households and high-networth individual spending, with the luxury market projected to grow significantly by 2030.