India is emerging as a key growth market for Swiss independent watchmaker Oris, which plans to double its India business by 2030 as it expands its retail footprint and taps into a rapidly evolving watch culture.
Oris, which has been making mechanical watches since 1904, currently has 60 points of sale in India through Ethos, alongside one exclusive boutique in Chennai. The brand plans to add more boutiques while continuing to build its presence through multi-brand retail and digital channels.
“India has grown significantly for us over the past few years. It’s not yet one of our bigger markets, but if it keeps growing at that speed, it certainly soon will,” Rolf Studer, CEO, Oris, told ETRetail.
Studer expects India to become one of the Swiss watch industry’s largest markets. “I would think that within the next five years, India will be among the top 8 to 10 markets for the Swiss watch industry,” he said.
For Oris, the ambition is even sharper, with the company targeting a 2X increase in its India business by 2030.
“I’m sure that India will be one of the key growth opportunities,” Studer said, adding that India’s growing appreciation for craftsmanship and mechanical watches gives him confidence in the market’s long-term potential.
The shift is also visible in consumer preferences. Oris found that 80 per cent of its top-selling models in India overlap with its global top sellers, signalling growing alignment between Indian consumers and international watch trends.
“We saw that the top sellers in India are 80 per cent congruent with global top sellers,” Studer said.
The convergence marks a change from the industry’s earlier market-specific approach. “We used to have local collections. A collection in China looked very different from a collection in Europe or the United States,” he said.
“With globalization and the growing strength of the Swiss watch industry, these things have aligned and are much more global than they used to be. Therefore, product strategy here in India is not different from what it is for the rest of the world,” he further added.
Oris has a global collection of around 200-230 SKUs, with its core collection of 50-80 pieces available in India.
The company is pursuing a mix of exclusive boutiques, multi-brand retail, and digital. Its Chennai boutique is currently the only standalone store in India, but more are planned.
“We also believe in multi-brand retail. So, I think a proper mix is key, and in that mix, digital is also definitely there,” Studer said.
Globally, digital is already gaining traction. Oris’ own e-commerce store has doubled sales year-on-year, making it its fastest-growing channel.
While India’s online luxury watch market is still maturing, Studer expects digital to become increasingly important.
Globally, Oris has around 2,000 points of sale and 30 boutiques. The US remains its strongest market, while Europe is expected to deliver steadier growth. China, meanwhile, is yet to fully recover from its post-Covid downturn.
For India, Studer remains bullish, as he said, “I am very positive about the future of Swiss watches in India.”
