Ashok S. Khemlani speaks to Karoline Huber, IWC Schaffhausen Brand Director—Middle East and India—about IWC’s plans for India and the vibrant Indian marketplace.
IWC Schaffhausen has gained an international reputation based on a passion for innovative solutions and technical ingenuity. Karoline Huber joined the Richemont Group (IWC is a brand of Richemont Group) in 2008; her first association with IWC started within the brand’s marketing department. In 2009, she became the IWC Director of Marketing and Communications and is now the Brand Director for the Middle East and India.
Tell us about your journey with IWC
It has been eight years; the brand itself is more than 150 years and I am sure it will exist for another 150 years. I am doing my best to reposition IWC in the regions that I am responsible.
Comment on the Indian marketplace
Currently we have six points-of-sale in India. We have reduced these in the last two years, because we want to reposition the brand. We want to ensure that IWC is represented by only the most knowledgeable and trustworthy partners across India in the most appropriate and luxurious environment—in terms of infrastructure, store's location and representation of other watch brands in the store.
How is the Indian market different from other markets?
After many visits to India in the past two years, I have realised that the rules, which apply to the West— in terms of retail space and brand positioning in the luxury space—cannot be applied to India. I do not know any other country that has such a refined definition of luxury as India. Luxury and precious metals are part of the Indian culture and India follows very strong design codes, which is very unusual as compared to the rest of the world. So to position an understated and classic brand like IWC in India, you need to apply different rules.
Last year was challenging for the watch business and for India as a country with the elections, a new government and new laws. India is in a transition phase and we will face challenges selling our watches for the next few months. However, we can see that the situation is stabilising a bit and this will help take the brand to the next level in India.
What is your opinion about the watch retail space in India?
India does not have that one retail street like the Champs-Élysées in Paris, where big luxury brands line the street. In India, stores are scattered all over the country; watch stores are run by retailers who have been running them as a family business for multiple years. You as a brand will have to adapt to each of these environments rather than creating an environment for yourself. On the other side, this retailing format is more personal, unlike a shopping mall or street.
What is IWC's sales strategy?
It all starts with the cultural aspect, with the knowledge or status of luxury in the market. For example USA is a young country that has created its own culture, whereas India has long-standing traditions, culture and luxury codes that are very evident in the society even today. To promote the brand in India, you need to find the right balance between maintaining the brand's character and the need to slightly adapt to India's luxury codes. This is a huge challenge driven by trial and error. We are trying to maintain IWC's character and at the same time speak the local city language. We try to find local spokespeople who will speak about the IWC character.
What is IWC's Indian clientele like?
Product demands are different in each Indian city; in Mumbai, we sell rose-gold and complicated watches since design is important to the Mumbai clientèle. In Chandigarh, steel watches with more complications are popular, while the Delhi clientele wants a mix of rose-gold and steel, but are not very receptive to tourbillions, retrogrades or the moon phase.
What are your plans for an IWC boutique in India?
We have big plans for India as the country has really grown on me; I am in love with this colourful, intense and vibrant country. I am optimistic that we will be able to do big business here and we are building it from scratch. In India, Mumbai and Delhi both deserve an IWC boutique and I can safely say it will happen 2 to 3 years down the line. It also needs to have a good partner and after-sales service.
Tell us about IWC's latest launch
IWC is a masculine brand and is positioned smartly with a refined character. Our watches are usually big in diameter and we felt the need to launch a watch for smaller wrists; hence we have introduced the Portofino Midsize Automatic Moon Phase collection. With its 37 mm diameter case, this collection will appeal to people with smaller wrists and more importantly, to women who like big watches. It's a beautiful watch to wear everyday.
The Portofino Midsize Automatic Moon Phase
Inspired by the elegance and flair of the 1950s and ’60s, combined with a distinctly modern take on luxury, this moon phase display sees the moon imaginatively set in a classic cloud scene or hovering in space in a star-studded night sky. This timepiece comes in an 18-carat red-gold case, set with 66 diamonds. It has a white mother-of-pearl dial set with 12 diamonds and a red-gold Milanaise mesh bracelet.
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