The Indian watch market is reported to be Rs 600 crore (Rs 6 billion) and Ebel wants a piece of the pie. Thomas Van Der Kallen, president Ebel, wears not one but two watches, almost to assert that despite a late start, Ebel, a 95-year-old brand, will work twice as hard to carve out significant market share in India.
"The luxury watch segment in India is already a cluttered market and in order to correct our late entry we need a consistent, long term strategy," says Van Der Kallen. And so, the Swiss brand is scouting for an Indian brand ambassador and hinting at a Bollywood actress.
"Globally, the most successful marketing strategies for ladies watches have incorporated testimonial advertising," says Ludovic Letrillart, sales director Southern Europe and West Asia.
Ebel, with 5 per cent market share in the luxury ladies watch segment globally, witnessed tumbling market share for over a decade due to ownership changing hands through the 1990s, until in 2005, it was acquired by the Movado group from LVMH (Louis Vuitton Moet Hennessy).
"Also, while the luxury watch industry in the 1990s was being driven by the men's mechanical watch category, LVMH had positioned Ebel as a high end ladies' jewellery watch brand," adds Van Der Kallen.
And while Ebel is working to correct that imbalance, it might actually work in its favour in India, because as he points out, the dominating players here, like Tag Heur, are focused on the men's segment.
Also, Van Der Kallen, here for Ebel's first Indian launch of a new collection -- Brasilia (starting retail price Rs 75,000), believes that Indian luxury purchasers are particularly predisposed to legitimate, historical brands.
Ebel is currently present in 15 points of sale. Arun Malhotra, CEO of Sunglass Palace, exclusive distributor for the brand in India, indicates that presence will increase by 50 per cent through his new retail venture Beyond Luxury set to open seven watch boutiques by the end of 2007.
"To capitalise on the growth rate of 20 per cent that the segment is seeing, steady expansion of retail presence will be key," says Malhotra.
