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Luminox Advt.
Hautlence
 
WMR - January 2017

Conversation

ETHOS

In conversation with Yashovardhan Saboo, CEO, Etho


ETHOS IS A SUCCESS STORY. THERE HAVE BEEN SOME EXCITING NEW DEVELOPMENTS SUCH AS EXCLUSIVE RETAIL OF CORUM, AS WELL AS BEING DISTRIBUTORS FOR RAYMOND WEIL. CAN YOU TALK MORE ABOUT THESE?

The legendary footballer, Pele, once said that his greatest strength was to assess where the football would be five seconds later and then to get there faster than others. We try to learn from such insights. We believe that the watch business will soon move to a phase of consolidation. Retailers and brands alike will need to choose their partners and work intensively with them to the exclusion of others. No retailer will be able to have all brands and no brand will have all retailers. Our move is to forge exclusive relationships with forward-looking brands in anticipation of where the business will be in future.

WHAT ARE YOUR VIEWS ON THE IMPACT OF DEMONETIZATION ON THE WATCH INDUSTRY?

Demonetization will be a great boon to legitimate players. It will kick-start a new white money credit based economic growth and I anticipate 9-10% GDP growth in 2018. It will translate into a 20% growth in market for us. In the short term, for next 2 quarters, we will face immense challenges. But, the darkness is densest before dawn. The smugglers and grey marketers might be rejoicing right now, but it will be short-lived.

HOW DO YOU THINK THE GST WOULD FURTHER AFFECT THE INDUSTRY?

It would be the single best thing that will happen to the industry if the rate is fixed in a logical and forward thinking manner.

The complete interview is in Watch Market Review - January 2017 on page no. 32 & 33