Titan will add 20 to 25 Helios Luxe outlets in the coming financial year (FY27) as it aims to increase its presence in the fast-growing accessible luxury segment. The Tata Group company will also continue to open 30 to 40 standalone Helios stores per annum, as it expects premiumisation to play an important role in its efforts to clock $1 billion in revenue from the watches business in FY27 and $2 billion by FY2030.
Helios Luxe currently operates nine boutiques across India, and has plans to have 15 boutiques before the end of this financial year. With five exclusive and seven other international brands introduced in India over the past 18 months, Helios Luxe has emerged as a strategic gateway for global watchmakers seeking a meaningful entry into the country.
“We will add 20 to 25 plus Helios Luxe stores in the coming year. Right now, these stores are largely in the metros. However, as we go further, we are signing a lot of stores in the tier 2 towns because a large part of India's wealth is sitting there,” Rahul Shukla, VP & CSMO, Watches Division, Titan Company Limited, told TNIE in an exclusive interaction.
The accessible luxury space, which is priced between Rs 1 lakh and Rs 5 lakh, has been growing at around 23% as a category. Titan claims that in Helios Luxe, this segment has been growing at around 46%, backed by a wide portfolio of brands, a growing economy and the rise of the affluent class who do not shy away from indulging in luxury.
India’s watch market is currently estimated at Rs 26,000 crore. Roughly half of it is sitting on watch prices above Rs 25,000. In the sub Rs 25,000, we have a substantial market share close to 47-48%.
“Our journey in the accessible luxury space has started recently with global and in-house brands. Currently, Helios is growing at a CAGR of 24%, and now we are looking to fast-track growth because we are increasing the proportion and the expansion of the accessible luxury segment, which is growing at a much faster pace. The pace we are growing, we expect Helios alone to clock Rs 2000 revenue in less than three years,” Shukla said.
Expanding its international brand portfolio, Helios Luxe recently announced its exclusive association with Alexander Shorokhoff, the German independent watchmaker celebrated for its limited-edition timepieces that place avant-garde art at the heart of fine mechanical craftsmanship. The India launch of Alexander Shorokhoff introduces a curated portfolio of 16 limited-edition timepieces.
Inga Alexandrovna Duffy-Shorokhova, Marketing Head of Alexander Shorokhoff Uhrenmanufaktur GmbH, told TNIE that watches introduced in India are priced between Rs 2 lakh and Rs 6 lakh to begin with. She informed that they sell about 1,000 to 1,500 handmade watches a year and all of them are designed by Alexander Shorokhov, the founder and CEO of Alexander Shorokhoff Uhrenmanufaktur GmbH.
“India represents an exciting new chapter for us. We produce in very limited, numbered editions, and presenting these rare pieces to a vast and evolving luxury market like India is both exciting and meaningful. With Helios Luxe, we are introducing our manufactory to a country that deeply values culture, individuality and mechanical depth. We look forward to engaging with Indian collectors who appreciate rarity, strong narratives and a distinctive design language in the timepieces they choose to own,” said Alexander Shorokhov.