Helios Luxe, Titan’s Operational Arm of Watch Distribution in India

India is huge, as is its appetite for watches. The history of watchmaking in the country, whether on the production or distribution side, is relatively recent but rapidly growing. Helios Luxe, part of Titan, distributes 45 brands and targets the accessible luxury segment. We recently sat down with Diny Markose, the CEO of the group’s watch division, who explained to us that there is no doubt that India will become a major market for watches. The question was not if, but how quickly. This was for the production side of the story. But what about distribution and sales? For that, we’ll be talking with Rahul Shukla, Vice President and Chief Sales & Marketing Officer of Titan Watches, about Helios Luxe, the operational arm of the Group, which distributes watches across the country at a scale that few can imagine.

Pascal Brandt, MONOCHROME – Helios has more than 280 retail locations in India. But what are your strategy and goals for the development of Helios Luxe?

Rahul Shukla, Vice President and Chief Sales & Marketing Officer of Titan Watches – While our broader Helios format has scaled impressively to around 290+ stores across more than 110 cities, Helios Luxe serves a much more specialised, curated role in our ecosystem. We currently operate 10 Helios Luxe boutiques across key metropolitan cities and have a clear roadmap for expansion as demand for luxury watch retail continues to grow in India.

More fundamentally, our strategy for Helios Luxe is to build on deep design stories, heritage and horology. International brands entering India typically seek both scale and brand affinity; while many retailers can offer the former, few can build the latter. Helios Luxe acts as an immersive platform where we do not simply retail watches, but actively help build brand equity through curated exhibitions, high-touch customer engagement, and meaningful storytelling that connects brands with India’s growing community of affluent consumers.

You represent 45 brands, but Helios Luxe is much more selective. How do you choose brands for Helios Luxe? Are you planning to expand your brand portfolio? If so, what kind of brands or products are you looking for, and what market positioning are you targeting?

We partner with a curated portfolio of leading international luxury watch brands and are continuously looking to expand our portfolio where the alignment is right. Our target positioning is squarely within the accessible luxury segment, which spans price points from CHF 1,000 to CHF 5,000.

When selecting new partners, we look for a meticulous balance between established Swiss maisons and independent, design-driven watchmakers from regions such as Germany and France. We evaluate potential partners across three core dimensions: distinctive design identity, horological expertise, and authentic heritage.

Crucially, any brand we introduce must resonate with at least one of the three: deep design stories, heritage and horology. We prioritise long-term partnerships with brands that are committed to building sustainable equity in the Indian market alongside us.

Is your distribution exclusively in India? If so, how do you position yourselves compared with Ethos and Kapoor?

Yes, our distribution partnerships and brand rights are geographically focused on the Indian market.

Helios Luxe differentiates itself through its role as a strategic gateway for global watchmakers entering India – offering not only curated retail environments but also the ability to navigate regulatory complexity, localise brand storytelling, and build long-term market presence.

Our focus extends beyond distribution to creating meaningful brand-building opportunities through immersive experiences, strategic marketing initiatives, and customer engagement platforms that help global watchmakers establish lasting relevance in the Indian market.

Do you have any plans to expand outside the Indian market?

Titan has an established international presence across multiple global markets. However, the primary focus of Helios Luxe remains India, where we continue to see significant long-term growth opportunities for luxury watch retail.

Our mandate is to act as a strategic partner and growth platform for global watchmakers entering India, helping them navigate a complex but highly promising market. At present, our priority remains executing our domestic vision and expanding our footprint within India.

India is increasingly perceived as a market that could eventually replace Mainland China for the watch industry, as Chinese sales have significantly slowed down. What is your view on this?

While it is tempting to draw parallels, India is fundamentally different from China, and our trajectory in luxury consumption is distinct. In India, economic growth and luxury demand are much more geographically distributed; for instance, around 60% of luxury demand originates in Tier 1 and Tier 2 cities rather than being concentrated in only a handful of metropolitan centres. Furthermore, our infrastructure and retail landscapes are still actively evolving.

Culturally, the Indian consumer base is exceptionally young, with about 65% of the population under 35, and highly focused on expressive, celebratory, and identity-driven consumption.

Our long-term ambition is not to replicate or replace other markets. Instead, we believe India has the potential to establish a unique position and emerge as a powerful third pillar in the global watchmaking ecosystem, alongside established centres of watchmaking and luxury consumption.

The issue of high import duties for Swiss brands remains relevant, even though the rate has been reduced to 15%. Is this level still too high for the Indian customer?

The Free Trade Agreement between Switzerland and India has been one of the most transformative developments for the industry. Import duties have already decreased from approximately 22% to around 15%, and they are scheduled to gradually reduce further over the coming years.

However, the assumption that duties currently alienate the Indian customer is becoming increasingly outdated. Today, watch prices in India are broadly aligned with European levels, with only a marginal difference in many cases. This means consumers are no longer compelled to travel abroad to access luxury watch purchases.

Importantly, we expect many global brands to reinvest the benefits arising from these tariff reductions into long-term brand building within India – through enhanced retail presence, marketing investments, customer experiences, and broader market development initiatives.

More broadly, the international watch market has been facing significant difficulties in the past two years. Is the domestic market (India) experiencing the same situation?

Interestingly, the Indian market continues to demonstrate strong resilience and growth. While several global markets are facing challenges, India is experiencing a significant wave of premiumization. The accessible luxury segment – which remains our core focus – is growing at approximately 23% to 24% annually. Helios Luxe is currently outperforming this baseline, with growth of nearly 46% to 47%.

This momentum is also reflected in Swiss export data. Swiss watch exports to India have increased significantly in recent years and are expected to continue growing as India’s luxury consumer base expands.

The strength of the Indian market is underpinned by rising disposable incomes, robust economic growth, and a young demographic that increasingly views mechanical and luxury watches as meaningful expressions of personal identity.

What are Helios Luxe’s key figures in terms of revenue and headcount?

While we do not publicly disclose standalone revenue and headcount figures specifically for the Helios Luxe retail division, it is important to view the platform within the broader scale of Titan Company Limited.

Titan employs approximately 13,000 people (for all activities, not only watches) and produces around 15 million watches annually, making it one of the world’s largest watch manufacturers by volume.

Helios Luxe operates within one of the fastest-growing segments of the Indian watch industry and continues to experience strong year-on-year growth as premium watch consumption accelerates across the country.

Any final thoughts for our readers?

One of the most fascinating developments we are witnessing is the profound cultural shift taking place among Indian consumers and collectors. With roughly 65% of the population under the age of 35, the role of a watch has evolved significantly. For many consumers, a smartwatch reflects what you do, while an analogue watch expresses who you are. This has created a growing appreciation for authenticity, craftsmanship, and the stories behind the brands they choose to wear.

At the same time, India remains a highly celebratory market, where a significant proportion of watches are purchased as gifts to mark milestones, achievements, and festivals. As a result, consumers often gravitate towards expressive designs, distinctive aesthetics, and timepieces that carry personal meaning.

Finally, trust remains the foundation of any successful luxury ecosystem. That is why we have invested in an extensive after-sales infrastructure of more than 1,000 service centres across India. This commitment to service and long-term customer relationships is a critical pillar of our growth strategy and a key differentiator in building enduring confidence among consumers