Love for luxury turns India into Rado's biggest market

Swiss luxury watchmaker Rado is targeting double-digit growth in India with the country emerging as its No. 1 market by value, as well-heeled consumers in a nation reputed for its thrift no longer shy away from indulging themselves.

- Varuni Khosla

India's overall consumption growth has slowed due to stubborn inflation, prompting the government to put more money in the hands of common citizens by easing taxes. But affluent Indians have been splurging on high-end luxury, including on fashion, cars and real estate.

For Rado, owned by The Swatch Group, India's rise as a priority market also coincides with the slowdown in China's luxury market.

"The journey of the Indian market has been good for our brand. We are targeting a double-digit growth here this year as India is now our number one country by value even though at the industry-wide global level, India is about 21," said Adrian Bosshard, Rado's global chief executive, who is visiting India this week.