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WMR - March 2011

Foreword

WMR - March 2011


 It’s spring time and an apt time for the most eagerly awaited horological trade event of the world, Baselworld 2011, which comes close on the heels of the scintillating Salon International de la Haute Horlogerie (SIHH) held in the beginning of the year. As the Swiss Fairs set the tone for what looks like a highly prospective year ahead, there is already a lot of action in the largest democratic consumer market of the world.

India’s Finance Minister Pranab Mukherjee announced Union Budget 2011-12 and spoke about the resilient growth posted by the country. His Budget was well accepted by the stock markets and India Inc. because there were no surprises. However, the horological industry was ignored but there was no tinkering with the customs and excise duties. The important thing that the Budget indicated is to provide a road map towards moving to Direct Tax Code and General Sales Tax in 2012, if not 2013.

The apex association All India Federation of Horological Industries and Technopak Advisors released a white paper on the Indian watch industry, which spoke about the phenomenal prospects in the Indian consumer market for timewear products. Titan Industries Ltd. posted strong results for the festival season with Income growing a whopping 47% and Net up an astounding 83%inQ3 FY2011.

Indian brands going global added more feathers to their caps as Titan watches and Tanishq jewellery from Titan Industries emerged as the most admired fashion lifestyle brands at Images Fashion Awards 2011. Gitanjali, an Indian origin brand, bought over Damas and set the pace for global acquisitions. Timex watches unveiled a new campaign with watches as conversation starters. Incidentally, Titan seeks to reposition itself as a lifestyle firm. A big opportunity presents itself as the country’s legendary horological company HMT mulls selling its watch division. Sonam clocks celebrated glorious moments of success with new collections. Titan Zoop helps you drift into the fantasy worldwith Robots & Fairies collection.

Buoyed by positive sentiments, the global players in the horological industry swung into action. High Fashion driven Versace watches launched in India in sheer style and opulence in New Delhi, the fastest growing luxurymarket in the country.Gc unveiled the SportClassXL-SGlam. FrederiqueConstantwatches as designed by ShuQi are a class apart as they hold aficionados in raptures. Dewitt unveiled the fascinating Twenty-8-Eight Regulator A.S.W. Horizons, which will transport aesthetes to another world. Breitling Chronospace Automatic is a marvel of mechanical watchmaking. Longines DolceVita is elegance personified and upbeat in its proposition. The Charriol Chrono Celtina evokes the mystique of a brand that continues to reinvent itself with new frontiers. Raymond Weil Maestro Moon Phase is a connoisseur’s delight. Salvatore Ferragamo’s Renaissance will usher in a new revolution.

On the promotion side, there is zip, zap and zoom too! F1 legend Michael Schumacher became the new Audemars Piguet icon.Armin Strom showcased the Armin Racing Chronograph for those living life on the fast track! Tissot continued its affordable luxury march by unveiled the Racing –Touch. Talking of speed, it’s time to literally fly with Aero Watch 1942Automatic Impulse.And of course,Casio G-Shock shocked India with its path-breaking promotional drive that eulogized brand values as well as the Company’s philosophy. Timex Watches heightened its retail march as it continued foray into new zones and cities. Biren Vaidya’s Rose Group set a new paradigm with The Watch Bar - Coffees,Conversations&Watches; a futuristic idea whose time has come. Interestingly, a wristwatch is no longer a timekeeping device or a fashion statement alone but much much more. A wristwatch device may transform blood pressure measurement and showcase health care attributes of the personal accessory device.

So as you make your way to Switzerland’s iconic city, brace yourself to be transported like Alice into Fairyland where timekeeping marvels will steal your heart,mind and soul!

Happy reading...

SK Sign
Sunil Karer
Editor