Watch Market Review
  HOME Home CONTACT Contact
Hours & Minutes
 

Luminox Advt
Hautlence
 
Our Vision - August 2017

Time and Tide

JOHNSON WATCH CO

IN CONVERSATION WITH ANKIT MADAN, MANAGING DIRECTOR AT JOHNSON WATCH CO


Johnson Watch Co was founded in 1950 as a family run business in the heart of New Delhi- Connaught Place. The company is running into its 3rd generation currently. With a view to having showrooms that provide an exquisite contemporary feel to the customers and that showcase some of the world’s finest Watch brands, the group has indeed made a mark on the Indian Watch industry. Karishma Karer chats with Ankit Madan, Managing Director at Johnson Watch Co for some watch talk….

How do you think the demonetization move and requirement of giving the PAN card number for purchases above a certain amount impacts the watch market in India?

The demonetization move obviously was seen as a boon at first. Things looked positive. Sales went down for a while but now it’s stabilized. The economy is fragile right now. The PAN card rule has been active for a year now. We hope the Sales to improve in the future.

What are the changes that you have seen in India’s evolution as a market?

Brands are coming in. Availability is much better than before. India has become a lucrative market. But buyers here somehow defer to spend due to the limelight. No other country asks for so much data from buyers! People are ready to buy officially but they don’t want to be harassed! But yes, people are changing as well.

Is India really a big market?

Maybe not as big as China, but we are growing at a steady pace and reaching somewhere. In a few years we will be very big! Delhi and Mumbai are indeed prime markets for luxury.

What trends and brands are working well here?

In Delhi, it is still the same: bigger dials are in fashion. People from south and from Mumbai gravitate towards classical brands.

The complete interview is in Hours & Minutes on pg no. 6 in the August 2017 edition.