**Rado Eyes Double-Digit Growth in India Amidst Luxury Market Shifts**
Rado’s global CEO, Adrian Bosshard, anticipates that India will become one of the top five markets for luxury consumption within the next 7-8 years. As the demand for high-priced products in China declines, the Swiss watchmaker is focusing on India, where affluent consumers are increasingly indulging in luxury goods.
In New Delhi, Rado aims for double-digit growth in India, which has now become its leading market by value. Despite a slowdown in overall consumption due to persistent inflation, the wealthier segment of the Indian population continues to spend on luxury items, including fashion, automobiles, and real estate. Rado, part of The Swatch Group, is capitalizing on this trend, especially as China’s luxury market experiences a downturn.
Bosshard noted, “The journey of the Indian market has been positive for our brand. We are targeting double-digit growth this year, as India is now our number one country by value, even though globally, it ranks around 21.” He highlighted Rado’s long-standing presence in India over the past 60-70 years, which has allowed the brand to grow beyond industry averages. Additionally, there has been a notable increase in sales from Indian travelers abroad.
The rise of individual wealth in India is evident, with the number of billionaires reaching 185 in 2024, according to UBS’s Billionaire Ambitions Report. Bosshard emphasized the diverse range of products being sold in India, stating, “We are not only selling entry-level pieces but also very premium items. High-end watches featuring full ceramics and diamonds are gaining significant appreciation in India, with purchases reaching up to $5,000.”
Rado’s watches are priced between $1,000 and $5,000 (approximately ₹90,000 to ₹4.4 lakh) in India.
In recent years, the prices of luxury Swiss watches in India have surged due to the strengthening Swiss franc and the depreciation of the Indian rupee, which recently hit an all-time low against the US dollar. Despite these challenges, the import of luxury watches into India remains robust, with Swiss watch imports valued at approximately CHF 273.9 million in 2024.
