For some time now, Switzerland has been synonymous with watches and tennis. It should not come as any surprise therefore that the Managing Director of the 125-year-old Edox Watches has been a ranked player on the ATP circuit. For Alexandre Strambini, tennis today is more of a leisure activity as he concentrates on revamp of his watch brand. On a recent visit to India, he admits that India is still a minor market for the mid price brand. Though the brand has been present in India since 2004, he says, ?it?s an advantage that there is little brand recognition yet as we can introduce our revamped lines.?
Since 2006, Edox has been working on the revamp, which has seen the brand associate with water sports in a major way. ?We have launched a new Class I collection, and signed an agreement with Sea Dubai to compete in the RC44 championship.? Also on the cards is a tie up with World Rally Championship. That few Indians have any idea of sailing is not a major concern for him. ?Japan, which is a major market for us, also has no history of sailing, but due to the buzz about sailing, our agents were able to place the watches in A-level shops,? he says.
?Our sales in India saw a 25% growth last year,? says Strambini. Edox, one of the few independent Swiss watchmakers left in an industry that is rapidly consolidating in mega conglomerates, is present in India in partnership with Ethos. ?We aim to be among the top three in our price segment, which globally is about 600-3,000 Euros. In India, most of our customers are in the age group of 25-40 and 80% are male.? He is quick to admit that the young are not really asking for Edox watches. ?It will take at least five years for the network to happen and another five before there is wider brand recognition.?
Though present in 60 countries, currently about 35% of Edox sales are happening in Europe, while 30% is in Asia. Strambini also sees the US, where the brand is still not present, as another market with ?huge? potential. However the brand has not been too successful yet in China as the Chinese go more for classical models, he says. The largest global market, surprisingly, is Poland, where Edox in 10 years have a well established market.