Leading Asian direct selling company QNet has expanded its Rs 1-bn turnover luxury watch portfolio in India with the launch of two limited edition variants – Essenza and Amore – under the Chairos brand.
Priced at Rs 59,900 each, Chairos Essenza is made for women, while Chairos Amore is dedicated to couples at Rs 1,04,450 per piece. Both variants of Chairos luxury watches are available in 9,999 pieces only. The Chairos brand is QNet’s proprietary range of luxury and sports watches developed exclusively for its Indian market.
Watches constituted more than 16 per cent of the company’s total sales in the financial year 2017-18 (FY18). QNet saw its luxury watch sales touch approximately 22,000 units during the year, backed by the launch of 14 new models of luxury watches.
“We are committed to developing a range of high-end luxury watches for India, given the success with our Swiss watches earlier. We wanted to offer our Indian customers a high end timepiece with a more affordable price point compared to imported Swiss watches. The response to our Chairos range of watches has been very encouraging. These watches use similar components that our Swiss Watch range does, with the only difference being that they are assembled in India,” said Trevor Kuna, Global CEO of Qnet.
Elaborating on the new watches, Kuna added, “A watch is more than just a device that tells time. It’s a statement that reflects the wearer’s personality and moods. The Chairos Essenza was developed for the modern Indian woman, a combination of grace and strength. The Chairos Amore is the perfect luxury watch for couples who treasure their time together, while still expressing their individuality.”
QNet has accelerated its pace of product launches following the announcement of ‘Model Direct Selling Guidelines’ in 2016 that instilled a new-found confidence and provided a direction for growth of direct selling players in the industry. So far, QNet has launched 29 watch models in India and the plan is to add 8 new models of luxury watches in the current financial year 2018-19 (FY19). QNet expects its sales turnover to cross Rs 8 billion by the end of FY18-19.