Before Diwali, Franck Muller is hoping to launch his third India-focused collection and may also venture into luxury. Residential Real Estate “There will be overtime here,” Baliyan told ET. The Franck Muller Aeternitas at London Gate, Dubai Marina, will be the world’s tallest residential clock tower at 106 floors.
“We are working on a very exclusive project of 108 handcrafted pieces for India and we hope to launch it before Diwali. Our real estate foray has been very successful and we want to do the third project in India. We hope to have a Franck Muller tower on the Indian horizon in the future,” he said.
Muller said India’s economic growth estimates have been “outstanding.”
“And now that China is in decline and Europe is struggling, the next three to five years belong to India. India’s GDP reached $3.75 trillion last year,” he said.
“We are looking luxury consumption of around 6.6 billion dollars, of which Swiss watch exports India only has 135 million Swiss francs left, so we have plenty of room to grow here. markets “The markets are also doing well, but India has huge potential. Our focus is entirely on this market,” he added. Franck Muller has opened its second exclusive boutique in India in Delhi thanks to a partnership with Kapoor Watch Company and is present in India through eleven outlets in several cities. “We are present in all major cities and we might consider opening another exclusive outlet in Mumbai in the future. We see potential in India. With the right measures, India can overtake China,” Baliyan said.
“With a few tweaks and regulations, India can fly. If tariffs and GST rates can be reduced, luxury sales can quadruple and exports can increase.” tax revenues“I think Indians who migrate abroad are at the top of the luxury consumption pyramid today. Six times more of what is spent here is spent by Indians around the world,” he added.
Pratiek Kapoor, director of Kapoor Watch Company, said the next five to ten years will be promising for India and there is a lot of room for growth.
“That is why we are investing in the market. The Indian market is in a good position compared to global markets. We are insulated. The last four to five years post-Covid have been very good and the trend will continue,” he added.
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