QNet Expands Its Rs 100 Cr Luxury Watch Portfolio With The Launch Of Two Limited Edition Chairos Watches
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
Leading Asian direct selling company QNet has expanded its Rs 100 crore turnover luxury watch portfolio in India with the launch of two limited edition luxury watches – Chairos Essenza for women and Chairos Amore for couples. The Chairos brand is QNet’s proprietary range of luxury and sports watches developed exclusively for its India market.
Watches constituted more than 16% 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.
Commenting on the launch Mr. Trevor Kuna, Global CEO of QNet said, “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.”
Elaborating on the new watches Mr. 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.
The CHAIROS® Essenza limited edition watch comprise only 9,999 pieces and have been priced at Rs 59,900 each for the India market.
The CHAIROS® Amore couple watch is a celebration of everlasting love and companionship. This limited edition range of 9,999 watches is priced at Rs 1,04,450 per piece.
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 800 crore by the end of FY18-19.