- Launches two more outlets in Pune
- Plans 100 more outlets in India
Leader in organised player in Retail Watch market and a part of Priority Group, Just Lifestyle has launched two more outlets in Pune
, one at Phoenix Market City and one at Western suburb of the city.
Pune is one of the fastest growing markets for Just Retail with 8 stores and plans to introduce 5 more. Established in 2004, Just Lifestyle retails through 55+ stores in more than 30 cities across India in Malls and High Street (through Just Watches and Just In Vogue formats) which makes it a leader in the organised watch retail market. Retailing with over 40,000 sq. ft. area across India, the stores boast an array of a right mix of products with Top International and National watch brands like Aspen, Tissot, Calvin Klein, Fossil, Diesel, Casio, Skagen, Guess, Seiko and Kenneth Cole allowing customers to enjoy a world-class watch shopping experience.
Speaking on the occasion Manoj Subramanian, GM Sales said, “While India is the fastest growing market for watches, we have the advantage of being an established multi brand player with more than 50 International watch brands.”
“The size of the total organised retail market is approximately Rs. 6000 cr. which is majorly driven by low end watches below Rs. 10000 and constitute 65% of the total Market. 20% of the business comes from the watches of medium range costing somewhere around Rs. 10000 to 1 lac. The premium watch segment is 15% of the total market with watches costing 1 lac plus. There is a lot of scope to grow in the Swiss watch segment which is growing in double digits and currently forms a very small part of the entire watch industry, there is a lack of awareness among the customers with respect to Swiss watches. I would say it would be around 1500 crores.”
He added, “We are currently present in 30 cities with 55 outlets and are aiming to open 100 stores in 2 years’ time, totaling to 155 in 3 years. In Maharashtra we are present in Mumbai, Pune, Panvel, Aurangabad, Nagpur and the next obvious step would be Nasik, Kolaphur, Solapur, Baramati, Sangli, Latur, Nanded. We would like to build on our current formats which include Airports, High Streets and Malls. Online would be our next big challenge.”
There is an advantage in multi brand format. 5% of customers are very clear what they want, which brand they want to buy, but 95% customers like to see options across brand touch and feel wear and then decide. Our staff advice is based on the requirement of the customer. For Example – If a customer desires a mother of pearl dial from the options of white, off white and pink, that is where we are available to assist.
We are just starting the online business with justwatches.com. Online business is a very complex business we are learning and hope that it will contribute a substantial part of the turnover.
One of the interesting observations he added, is that more and more women are contributing to the sales. 2 to 3 years back, the ratio of Men to Women was 90% to 10% now currently it is 70% to 30%. In the Middle East, women contribution is more than men, that is, 60% to 40%. Women’s contribution is increasing in the growth of watch market as well as that of mobiles, electronics and automobiles.
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