Swiss luxury watch brand Norqain, which entered India in 2022 in collaboration with Ethos, is eyeing a 5 per cent revenue contribution from the Indian market by FY 26 end, Tobias Kueffer, VP and member of the owner-family, Norqain told ETRetail in an exclusive interview.
The brand believes that the Indian market is going to play an important role going ahead.
“We see India as one of the main markets to focus on, and to invest. If we look at numbers, India is not at the top yet, but in terms of importance, we put it right at the top,” he asserted.
“Our number one market is the US then we have Japan with 40 doors and Switzerland, our home market is also important for us,” he further added.
The brand, which has a presence in 38 countries, is planning to enter 2 more countries by this fiscal year’s end.
“Currently, in terms of revenue, India is juggling between 10th-15th spot for us, however, by FY 26 end, we foresee India being a top 6th market for us,” he stated.
“India is developing and the middle class is growing rapidly and that will have a bigger effect on the luxury market. It is really the market to watch,” he further added.
In total, the brand has launched over 90 SKUs and has 58 active SKUs at the moment. It is further planning to launch 2 new SKUs at the end of October and one SKU in November.
“We started with a global focus, however, now we are concentrating on specific markets and to strengthen our position further. We are also looking forward to launching special editions in India in the future,” he said.
In India, the brand has a presence in 15 retail stores of Ethos along with 2 duty-free stores.
“In the future, we also foresee opening EBOs of Norqain with Ethos where people can experience the spirit of the brand,” he said.
At present, the brand is neither sourcing nor manufacturing in India.
