Swiss luxury watch brand Hyt plans to expand into the Indian market to tap into the growing demand for unique timepieces in the country. The brand has debuted at Time Avenue’s multi-brand boutique in Mumbai’s Bandra West.
“We see the Indian market as a maturing one, ripe for our unique timepieces,” said Hyt’s brand head Vahe Vartzbed, ET Bureau reported. “India boasts a strong community of collectors, making it an ideal space for us to introduce our brand. We firmly believe that now is the opportune moment for independent brands like ours to establish a presence in India, as Indian watch collectors are asking for uniqueness.”
Hyt has joined forces with watch retail business Time Avenue as its exclusive partner for the Indian market. Hyt plans to retail its products starting at Rs 45 lakh and moving up to Rs 4.6 crore, the Economic Times reported.
“We’re fortunate to have the freedom to chart our own course,” said Vartzbed. “Being independent, we can focus on continually elevating the craftsmanship of our timepieces, with increased decorative elements and the addition of small complications.”
Hyt launched in 2012 and is based in Neuchâtel in Switzerland, according to its Facebook page. The business retails across Europe, the US, Asia, and the Middle East through a range of multi-brand stores, according to its website.
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