Companies

Will dominate fashion watches market in India: Fossil India MD

NARAYANAN V CHENNAI | Updated on November 20, 2018 Published on November 20, 2018

Johnson Verghese, Managing Director, Fossil India at the launch of Fossil store in Chennai on November 20, 2018.   -  Bijoy Ghosh

With the growing number of Indian youth, the demand for fashion watches and lifestyle accessories is all set to grow tremendously with increase in disposable income.

Fossil India, a subsidiary of the US-based watch and accessories maker Fossil group Inc has launched it's 18th exclusive retail showroom in the country. This is also second retail showroom of the firm in Chennai, which is located at Phoenix Marketcity here.

Speaking ahead of the showroom inauguration, Johnson Verghese, MD, Fossil India, said that the demand for fashionable watches and lifestyle accessories will grow tremendously. This could be attributed to the increase in disposable income and the large number of youth in India.

“We are dominant in what we do and we don’t want to move from here,” Verghese said in an exclusive interaction with BusinessLine.

The company offers fashion watches and other lifestyle accessories such as jewelry, leather handbags, small leather goods and wearables under a diverse portfolio of owned brands such as Fossil, Michele, Misfit and Zodiac and through licensed brands such as Armani Exchange, BMW, Diesel, DKNY and Puma.

In addition to the exclusive showrooms, Fossil watches are also available over 160 departmental showrooms like Lifestyle and Shoppers Stoppe and over five hundred multi-brand retail stores across the country.

“An exclusive retail store is the best way to present our brand in it's entirety," Verghese said. He added that one can experience all that Fossil stands for the firm’s exclusive showrooms through their customer service and product customisation features.

The company, which has a manufacturing plant in Madhya Pradesh, also imports and exports watches from its global facilities in China, Hong Kong, Switzerland. It currently offers watches under Traditional, Smart and Hybrid categories.

“Smartwatches is a growing market.We are fortunate to have entered the digital space earlier than the others. Now, there is nobody ‘close’ to us in this category,” Verghese said.

The new showroom, inaugurated by actress Shruti Hassan, will display the brand’s Holiday collection and Generation 4 smartwatches by the end of this year.

Published on November 20, 2018
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