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WMR - January 2018

Conversation

ART OF TIME

In conversation with Gaurav Bhatia and Bharat Kapoor


Do you feel that the market has stabilized after the reduction of GST and that demand will go up?

Yes, for sure. It has been quite good. The reduction of the GST is pushing it further.

Your thoughts about the luxury market in India?

The customer wants a different experience. It’s not just going to a store and buying a watch. Earlier, it was just about the price and discount. The customers are more educated now. It is a younger clientele. They have more knowledge. So far, it’s been great. Yes, it is challenging to sell. You need to put in more effort to sell.

What are the brands that you have at the store?

In this store we have Officine Panerai, Cartier, Montblanc, Jaeger-LeCoultre, IWC Schaffhausen and Omega. We have a shop-in-shop concept for all these brands. We have a new store coming up at Nepean Sea Road, in South Mumbai where we are looking at housing a few more brands.

What are the current challenges that you face as a retailer in today’s market scenario?

The two lakh rupee limit for cash, it’s a challenge. The effort that goes into convincing a customer is a lot! But, this is changing as well.

The complete interview is in Watch Market Review - January 2018 edition on page no. 26 & 27.