India Luxury Watch Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 5.7% (2025-2033)

Market Size in 2024: USD 1.6 Billion

Market Size in 2033: USD 2.8 Billion

The India luxury watch market is expanding quickly as a result of factors like rising disposable income, shifting customer tastes, and increased brand trust. According to the latest report by IMARC Group, the market size reached USD 1.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.8 Billion by 2033, exhibiting a growth rate (CAGR) of 5.7% during 2025-2033.

India Luxury Watch Market Trends and Drivers:

The Indian luxury watch market is undergoing significant transformations, fueled by the growing wealth of the middle and upper classes. As disposable income increases, many consumers are investing in premium products like luxury watches, particularly among younger buyers drawn to the status and prestige of renowned high-end brands. Social media and digital platforms have played a crucial role in raising awareness and driving demand for these aspirational items, making owning a luxury watch a symbol of success and achievement for many young professionals.

In response to this growing demand, watch brands are focusing on producing exclusive, high-quality timepieces. Luxury retail stores in major cities are enhancing the shopping experience, offering engaging in-store interactions to make the purchase even more appealing. Brands are also releasing limited-edition models and offering personalized services to cater to the evolving preferences of Indian consumers, contributing to the market's continued growth.

The way luxury watches are purchased in India has been transformed by digital platforms. Online shopping, which surged during the COVID-19 pandemic, has gained even more popularity. Many luxury brands have expanded their online presence, offering exclusive collections and experiences designed to provide a sense of luxury, even when shopping from home. E-commerce platforms are also making high-end products more accessible, including to consumers in smaller cities.

New technologies, such as augmented reality (AR) and virtual reality (VR), are improving the online shopping experience by allowing customers to visualize how a watch will look on their wrist before making a purchase. As brands invest more in these digital tools, online sales of luxury watches are expected to continue growing, revolutionizing how consumers interact with these products.

Sustainability is becoming an increasingly important factor in the luxury watch market, especially among younger buyers who are more conscious of the environmental and social impact of their purchases. Watchmakers are addressing this by using eco-friendly materials, such as recycled metals and conflict-free diamonds, and by improving transparency in their supply chains. This commitment to sustainability is helping brands build trust and attract environmentally aware consumers.

In 2024, demand for smart luxury watches is expected to rise as consumers seek timepieces that combine traditional craftsmanship with modern technology. Many buyers are looking for watches that are both stylish and functional, leading to a surge in hybrid models with smart features. Personalization is also a growing trend, with brands offering customization options that allow customers to create watches reflecting their unique style—an appeal particularly strong among younger buyers who value individuality and exclusivity.

While global luxury brands continue to dominate, Indian watchmakers are gaining recognition by blending traditional craftsmanship with modern design. Sustainability will remain a key focus as brands embrace eco-friendly practices, and the Indian luxury watch market is set for continued innovation and personalization in 2024, adapting to the changing preferences of consumers.

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India Luxury Watch Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Analog Watch

• Digital Watch

Breakup by End User:

• Women

• Men

• Unisex

Breakup by Distribution Channel:

• Online Stores

• Offline Stores 

Breakup by Region:

• South India

• North India

• West & Central India

• East India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key highlights of the Report:

• Market Performance (2019-2024)

• Market Outlook (2025-2033)

• Porter’s Five Forces Analysis

• Strategic Recommendations

• Historical, Current and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Structure of the Market

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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