Helios, India's largest premium watch retailer from Titan, has expanded its international portfolio by introducing U-BOAT, the renowned Italian premium watchmaker, to the Indian market through a partnership. The Tata Group company said it is in talks with three more global brands to introduce their products in India as the premium watch segment (priced upward of Rs 25,000 a unit) is growing at a robust pace.
“There is a strong premiumisation trend happening all across India. Helios, as the country’s largest retailer of global watch brands, is well placed to leverage this opportunity,” said Rahul Shukla, Vice President and Chief Sales and Marketing Officer, Watches and Wearables, Titan. Shukla added that even as Helios, with its 240 stores across 95 plus cities, has been growing at a CAGR of 35% for the past 5 years, the company now wants to strengthen their presence in the premium segment.
“To cater to this segment we have launched three brands so far this year and we want to launch three more by the end of this fiscal…All the upcoming brands will play in the price range of Rs 25,000-1.25 lakh,” said Shukla. He added that Helios will continue to expand its footprint by adding 50 stores this fiscal.
Prices of U-BOAT watches start at Rs 1.22 lakh and go up to Rs 6 lakhs. The products will be first available at 11 marquee Helios stores in Mumbai, Bengaluru, Delhi, Hyderabad & Kolkata. The company believes that this addition to its portfolio ahead of the festive season is poised to contribute an expected 45% growth in revenue.
Commenting on its partnership with U-BOAT, Shukla said, “This launch marks a significant milestone for us, aligning perfectly with the surging demand for premium and innovative timepieces in India. As Helios advances its expansion strategy, the launch of U-BOAT signifies the beginning of its efforts to introduce a diverse array of esteemed international premium brands to India. This launch, perfectly timed with the festive season, offers an exciting opportunity for consumers to indulge in exceptional luxury and celebrate in style.”
Italo Fontana, founder and owner of U-BOAT, said that India is a huge market for them. U-BOAT, present in 64 countries, expects India to be among their three biggest markets globally. The two other markets are the USA and its home country Italy. U-BOAT is also seeking to establish their flagship stores in India. The company informed that their sales grew by 47% in the first six months of 2024.
“Our shared vision and values with the Tata Group led us to form this partnership, which has already proven successful both professionally and personally. We aim to position U-BOAT as a leading name in premium watches, recognized for its unique Italian design, exceptional materials, and superior quality,” said Fontana.