Watch Market Review
  HOME Home CONTACT Contact
Hours & Minutes
 

Luminox Advt
Hautlence
 
Our Vision - February 2018

Foreword

WMR - February 2018


It is a busy time for the watch world! We have just returned from the Salon International de la Haute Horlogerie, 2018 and we were mesmerised by the beautiful fine watchmaking creations that we saw there. We were in the middle of all the action at the SIHH which took place at Palexpo, Geneva from 15th-19th January 2018. Each exceptional timepiece that we saw at the fair is a testimony to the relentless pursuit of excellence that is so much a part of the DNA of the horological industry. Our special report on the fair highlights some key trends that we observed at the fair and also presents a curated selection of timepieces.

Hours and Minutes is also the media partner at the Baselworld Fair, the biggest watch fair in the world! We are already getting into the flow with all the pre-Basel collections that are trickling in! Our cover features one of the much anticipated creations that will be presented at Baselworld- Carl F. Bucherer’s highly successful addition to the Manero Peripheral family. Our team is all geared up for the influx of watch creations that will be presented at the fair.

In the midst of all the excitement to do with the fairs, there was a bit of a damper for the Indian watch industry when the Union Budget was presented. It is a key development that impacts us and it has to do with recent changes in duty structure. Customs duty has doubled to 20% on imported watches and clocks. The increase in duty also affects smartwatches and wearables as well as watch movements. This comes as a disappointment, especially after the GST revision from 28% to 18%, which had made India one of the most competitive markets for watches! This is definitely something that would impact us, just when the watch market seemed to be on a growth trajectory once more! 

SK Sign

Sunil Karer  
Editor