Luxury Portable Consumer Electronics in India

PROSPECTS

Luxury watch brands moving into smart wearables

With connectivity becoming an increasingly important feature of consumers’ everyday lives, and rising numbers of consumers staying connected to more than one device, India is seeing a surge in demand for smart wearables. Meanwhile, devices such as smartphones are making watches obsolete in terms of pure functionality.

Store-based retailing remains crucial

While consumers of luxury portable consumer electronics might be expected to be more tech savvy and, therefore, willing to engage in e-commerce than other luxury consumers, store-based retailing continues to dominate sales in the category. Most consumers purchasing luxury mobile phones or smart wearables still strongly believe in viewing, feeling and experiencing these high-ticket items, as well as discussing them with experienced staff, in a store before making a purchase.

High-tech functionality key to demand in mobile phones

Luxury mobile phones have struggled to gain traction in India, as in other markets, because technology and functionality are the key factors in determining product choice and, indeed, prestige, when it comes to mobile phones, rather than the use of materials such as diamonds and precious metals. Focusing on strong technological innovation, companies such as Apple and Samsung have succeeded in appealing to aspirational and affluent buyers more than brands such as Louis Vuitton.

COMPETITIVE LANDSCAPE

LVMH extends luxury portable consumer electronics offer with Tambour Horizon

With a varied portfolio, LVMH Watch & Jewellery India is the leading player in luxury portable consumer electronics. The company launched its second generation smartwatch, Tambour Horizon, in 2019.

Hublot opens first stand-alone store in India

Swiss luxury watchmaker, Hublot, opened its first stand-alone store in India in 2019. Located at the Palladium Mall in Mumbai, a well-known luxury shopping destination, the boutique sells both luxury timepieces and smartwatches.

Multi-brand outlets facilitate category development

Multi-brand outlets such as Ethos Watch Boutique, which sell both watches and smart wearables, are helping to deepen the penetration of luxury wearables in the Indian market. In the latter part of the review period, Ethos Watch Boutique notably extended the range of brands on offer in its stores across India through exclusive retail partnerships with major global brands, further increasing consumer access to luxury timepieces and luxury wearables.

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