India's luxury watch market is defying global headwinds. Swiss watchmaker Tag Heuer is aggressively expanding in India, opening boutique stores across major cities as demand for premium timepieces surges over 26% this year. While global luxury faces pressure and LVMH struggles with profit declines, India's growing middle class is driving unprecedented growth in Swiss watch sales, which reached approximately 3,500 crore rupees in 2024. Tag Heuer aims to make India its largest market in the Europe, Middle East and Africa region within five years by shifting from third-party distributors to direct retail presence. The strategy targets converting first-time entry-level buyers into long-term collectors, though current average Indian spending at 3,000 euros still trails the 4,000 euro global benchmark.
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