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Ulysse Nardin parent company bullish on India potential

AnyFans 2025-09-17

By Meenakshi Verma Ambwani

Sowind Group – the company that owns two independent luxury watch brands, Ulysse Nardin and Girard-Perregaux – is bullish on the evolving luxury market in India and expects the country to be among its top markets in the coming years. Last week, the company opened the first standalone boutique store for Ulysse Nardin in Gurugram and will look to open stores in other top metros.

Alain Sponem, COO & CFO, Sowind Group SA told businessline, “We see a lot of opportunities in Asia as well as India. The luxury market is fast evolving in India with higher disposable incomes, and we believe offers strong growth potential for our brands.”

Personalised watchmaking

The company said that with the launch of the first standalone boutique store for Ulysse Nardin, it hopes to deepen its engagement with Indian consumers. “We have opened the first standalone boutique store for brand Ulysse Nardin at the City of Time by Ethos in Gurugram. The boutique features exclusive editions and bespoke services, creating a destination for truly personalised watchmaking experiences. We are looking at other metro cities and will look to opening another one in Mumbai,” he added.

The company may also look at following a similar strategy for its brand, Girard-Perregaux. “We are quite bullish on India’s growth story. I believe, with the rebalancing of economic growth, India will probably be one of the biggest winners with its large and well-trained population. I would be disappointed if India is not among our top five markets in the coming years,“ Sponem added.

A report by BCG released in July noted that HNW (high net worth) and UHNW (ultra-high net worth) population is growing at 11-15 per cent CAGR through 2034. “India is not yet the “next China” but it is fast becoming a must-watch market for global luxury brands,” the report noted. The Swiss luxury watch industry has been coping with a dip in exports due to lower demand from key markets such as China in recent times.

Published on September 15, 2025