SHAH RUKH KHAN SPORTS TAG HEUER

It was the pocket-watch worn by Napoleon Bonaparte as he planned his split-second moves on the battlefield. Winston Churchill wore one in the darkest days of World War II. And even that famous lover of luxury, Marie Antoinette, carried one about her person before she said too much about bread and cakes. You too could own a Breguet. In fact, you could own a custom-made masterpiece from the company that’s cast in solid gold for a mere Rs 7 crore.

Or strap on some other status symbol. How about the Corum Tourbillion that comes at a comparatively modest Rs 85 lakh? For that price, you get a watch with a crocodile strap, cathedral gong sounds, and a complete view of the movements and the two tiny hammers that announce the hours and quarter hours. In an extravagant mood? The same watch in a limited edition ? in 18 carat rose and white gold ? can be all yours for Rs 2.5 crore.

Meanwhile, hot from Chanel’s J12 collection comes the Superleggera, described as a “timeless, glossy black, indestructible watch”. The chronograph, in anodised aluminium and with a stainless steel case (ahem: price on request) was also unleashed in India last month. It will definitely put you in the Big League instantly.

Corum’s $10 and $20 gold coin watches

You got it right ? it’s raining watches. They come in stainless steel and 18-carat solid gold, are set with diamonds (naturally) and other precious stones and flaunt mother-of-pearl dials. Today every iconic watch brand worth its cutting-edge technology and upper class image is right here, at a store close to you.

Let’s get one thing straight. The top-end luxury watch market is not about telling the time. It’s about glittering gold, sparkling diamonds and time machines that could cost anywhere between Rs 1 lakh and a couple of crores. “Watches are no longer looked upon as just functional items of a wardrobe,” says G. Kannan, country manager, Swatch Group India.

AAMIR KHAN, BRAND AMBASSADOR FOR TITAN

Once upon a time, India was the land of cheap and smuggled watches and the top end companies steered carefully clear of the region. Today industry sources peg this market at around Rs 50 crore ? and counting.What’s more, the companies are splurging in a bid to attract customers, so you’ll find Sushmita Sen rooting for Tag Heuer, sultry siren Bipasha Basu walking the ramp for Cartier and sexy symbol of our times, Kareena Kapoor posing for Citizen.

In recent times, scarcely a week has gone by without the launch of a new luxury brand. In fact, the luxury brands are now launching their topmost brands simultaneously in India and other parts of the world.

That’s not all. The watch companies now say that India is a key market and will get even bigger in years to come. Says Patrick Normand, managing director, Middle East & South Asia for Cartier, “We are seeing a very strong and culturally vibrant Indian market which is witnessing a pro-luxury trend.” Think Cartier and look at prices that start from Rs 2 lakh and go upto Rs 2 crore.

BREGUET BY SWATCH

The action has been fast and swift. Chanel launched the Superleggera in Delhi just as the watch was unveiled in Paris in October 2005. Swatch, too, has been working against the clock and in the last two months has come out with 12 new styles from Tissot alone. Meanwhile, (also under the Swatch banner) Omega added a few new pieces and RADO’s limited edition Coupole Jubilee was perfect for newlyweds. Lisa Ray played brand ambassador ably.

THE CHANEL SUPERLEGGERA

The other top brands are also moving at high speed. Christian Dior came armed with 15 latest styles while Tag Heuer has heaped some 24 styles on the market. Not to be outdone, Corum launched 15 new styles. Its 30-piece Potpourri collection sold out even though they cost around Rs 3 lakh. And its latest line that was unveiled last month, the Debutante collection, has already found plenty of firm buyers. Cartier’s offerings for the year came by way of five new collections: the Santos 100, the Declaration line, Pasha De Cartier 42 mm, Tankissime and the Privee Collection.

Similarly, there was much action from the stables of Baume & Mercier, Gucci and Jaeger LeCoultre as well. In the last six months, Baume & Mercier padded up with five new styles, Gucci made additions to existing lines and added some eight new collections while Jaeger LeCoultre added 10 new styles and made additions to the existing Atmos collection. Harry Winston meanwhile launched the Project Z 2 Diver, the Opus 5, its Rose Gold and New Signature Lace collections.

SONALI BENDRE SHOWS OFF AN OMEGA

“Today a watch is the personification of success, and the Indian connoisseur is ready to splurge on cutting edge time-pieces,” says Sunil Grover, regional sales and marketing manager, Indian Subcontinent, Corum, which entered India in 2003.

If showering state-of-the art, usually diamond encrusted, multi-function beauties isn’t enough, the brands are roping in oodles of star power to spread the good word about themselves on Indian soil. “The use of celebrities provides the brands with stronger visibility,” says Gurinder Sahni, MD of Jotimpex, who represents Gucci, Harry Winston and Jaeger-LeCoultre in India.

So, King Khan ? that’s Shah Rukh ? vouches for Tag Heuer and the lissome Sonali Bendre loves her Omega Quadrella. Meanwhile Dior goes with model/item girl, Yana Gupta in India.

LISA RAY AT A RADO PROMOTION

As the foreigners make precisely-timed attacks on the Indian market, local brands like Titan are fighting back. Titan, which has mainly lower-end watches, has come out with over 600 new models in the last year. Significantly, about 60 of these were in the high-end category. The company roped in actor Aamir Khan to be its brand ambassador.

The luxury watch brands are determined to grab as large a share of the Indian market as possible, so they are expanding their retail network swiftly. Though they play their cards close to their chest and won’t reveal sales figures, it’s obvious they have high hopes for the future. “LVMH watches is targeting a 150-point sales distribution network by 2007. Internally, the target for India is to be in top 10 markets of Tag Heuer by 2007 and in top five by 2010,” says Renuka Keron, marketing manager, LVMH Watch & Jewellery, that made its debut in India three years ago with Dior and Tag Heuer and today retails from 50 outlets. The Swatch Group intends to bring in the other luxury brands from its diverse portfolio into the country.

BAUME & MERCIER WATCHES

On Cartier’s drawing boards are plans to open an exclusive boutique in Delhi or Mumbai within the next two years. This will follow the same format as other Cartier boutiques worldwide. “We have gone through many surveys and studies in India and are now looking for prominent spaces in five-star hotels and big malls,” says Normand. And Chanel, that recently opened in Delhi, is looking at launching its second boutique in Mumbai. According to Xavier Bertrand, general manager, Chanel, India, the brand is at the moment studying the retail distribution for watches as well as fragrance and beauty products in order to identify selective authorised retailers.

YANA GUPTA MODELS FOR DIOR

But in this bustling market, is there room for everyone? “There is always room for competition. The brands with distinctive features will thrive,” says Kannan of Swatch. Obviously, as the Indian economy booms, they are hoping that sales of luxury watches will climb steeply. Says Keron of LVMH, “More spending power to the customer would ideally mean more selective buying, thus leading to a growing and favourable market.”

“The luxury segment is growing at a fast pace,” agrees Manoj Tadepalli, head marketing, of Titan Industries, the company that controls over 60 per cent of the domestic market share in the organised watch market. If the latest statistics suggest that some 35 million watches are sold in a year, of this figure, 15 million are sold in the branded and luxury watch segment. Tadepalli believes that the total market in 2006 will stand at 40 to 42 million watches sold and that the luxury watch quotient will scale upwards in proportion.

BIPASHA BASU AT A CARTIER SHOW

AN OFFERING FROM GUCCI

Who are the major buyers of luxury watches in India? Says Bertrand, “People who appreciate and understand the perfection of know-how, innovation in technology, elegance and style.” But some brands are hoping to zero in on specific segments of the upper-end market. Tag Heuer wants to be a part of India’s youth revolution. And Dior is sure to appeal to those who are very trendy and ‘fashion aware’ in the 21-35 age group.

While the brands are selling briskly in the country’s metros, they are also spreading their tentacles to smaller towns. So, luxury watches are flying off the shelves in cities like Calcutta, Chennai, Bangalore and Hyderabad. Also, they are looking for ways to expand to prosperous cities like Chandigarh, Ludhiana and Ahmedabad.

If the Asia Pacific region is emerging as a major market for luxury goods, especially watches, India registers the highest sales growth figures according to Keron. Keron observes, “We have been witnessing a healthy growth rate in double digits per year and expect this trend to continue.”

“And if you feel that you have arrived in life and want to declare it, your timing is just right,” says Grover of Corum. So just go ahead, wear your attitude and stay in style as you watch the seconds tick by.