Franck Muller's Ram Lalla is a retail lesson: 108 pieces at INR 30 lakh each, roughly INR 32 crore of potential sales, built on belief rather than volume.
Swiss watch maker Franck Muller’s 108-piece Ram Lalla and a 12-outlet network show how scarcity, faith and selective retail partnerships are shaping luxury watch retail in India.
Swiss watch shipments to India grew 29% to CHF 265 million in January to September 2026, while China and the US slipped 6% and 4%.
Rolex, Audemars Piguet, Hublot and Jacob & Co crowd the field, yet India has ranked among Franck Muller’s top six markets and now grows at double digits annually.
Erol Baliyan, Chief Executive, Middle East, Africa and India, Franck Muller, told ET, “We have built our India strategy across three pillars: culture, tradition and religion.”
Distribution is selective: twelve points of sale, anchored by Kapoor Watch Co since 1995, with boutiques in Delhi and Mumbai and partners in Bengaluru, Chennai, Kolkata, Hyderabad and Kochi.
S. Shriram, pioneer of modern Travel Retail in India and former Head of Travel Retail, BIAL, said, “I introduced luxury watch retail at Indian airports in 2008.”
“Customers were not buying watches; they were buying a statement, and the latest “Ram Lalla” limited edition by Frank Muller is just another example,” he added.
Franck Muller favours its own stage: a Geneva showcase since 1998, while Indian launches travel through partners such as Rose The Watch Bar’s 47-piece Men in Blue.
Its 2022 India edition of 150 pieces, priced INR 12 lakh to INR 19 lakh, sold out immediately, and Ranveer Singh’s association since 2019 keeps the brand visible.
Privately owned and silent on sales, the house has no listing or fundraise to report; its currency is scarcity, craft and cultural relevance.
Buyers are collectors, high-net-worth and fashion-forward individuals who favour diamond-set bezels, skeletonised dials and complications, while the brand does not publish buyer age data.
Access is the consumer’s challenge: wait-listed editions depend on company discretion, so 108 pieces, even across all twelve points, mean about nine each.
Editor’s Note
Limited editions work when the story outweighs the product. Cricket, independence and faith gave Indians a reason to buy with the heart, long before comparing movements.
Selective retail guards value.
A small network keeps exclusivity credible, while a trusted partner turns every sale into a relationship that outlasts the watch and the season.
As wealth spreads beyond the metros, smaller cities will join the queue, and India-rooted editions could become the most coveted signature, proving that heritage never goes out of fashion.
Discover more from Retail Updates
Subscribe to get the latest posts sent to your email.
