Frédérique Constant is larger than it appears and younger than most might think. Since its founding in 1988 by Dutch couple Aletta Bax and Peter Stas, the Swiss watchmaker has aced the value-for-money game, standing out as a Geneva-based brand that delivers refined finishing and a surprising range of complications—think perpetual calendars and tourbillons—all at accessible prices. With over 100,000 watches sold annually, the company ranked 44th on Morgan Stanley’s prestigious 2023 list of top Swiss watchmakers, underscoring its position as a rising name in the world of luxury timepieces. 

This success extends to India, which has become one of Frédérique Constant’s fastest-growing markets over the past 20 years, and the brand has ambitious plans to make it into the top five. Leading these efforts is William Besse, Frédérique Constant’s International Director of Business Development, who brings more than a decade of experience with the brand. His role has evolved alongside the brand’s own growth under the Citizen Group, which acquired Frédérique Constant in 2016, allowing it to scale its international reach while maintaining its independent spirit. 

In a quick chat with us, Besse delves into the brand’s journey in India, the challenges of creating ‘affordable luxury’, and the strategic realities of punching above one’s weight in one of the most heated emerging watch markets in the world. Excerpts: 

 
How often do you come to India? 

Not enough, that’s for sure! I used to visit more frequently when I oversaw the Middle East and India. Now my role covers additional regions in Asia, including China, Hong Kong, Korea, and Japan, along with parts of Europe and the Americas. But India is a priority, especially as the market continues to grow. It’s currently our seventh-largest market, and our aim is to position it in the top five within the next two years. 

There’s been talk of a market slowdown, globally. How has it affected Frédérique Constant? 

Yes, globally, demand has been decreasing, particularly at certain price points. Watches priced under 500 Swiss francs (around 50,000 INR) are struggling, while the 50,000–2 lakh INR range also faces challenges. However, the high-end segment is doing very well, especially for both big brands and independents. 

We don’t cater to the entry-level segment, so we’re less impacted. That said, other brands have faced difficulties due to price increases and a shift toward standalone boutiques. This shift has left multi-brand stores open to us, allowing us to gain market share. When I joined about 14 years ago, we were an option for retailers. Today, we’re often the solution, especially when times are challenging, as our value proposition becomes more attractive. We’re still planning for growth even as other brands face double-digit declines. 

Why do you think Frédérique Constant performs so well in India? What about the rest of Asia? 

It comes down to our partnership-focused business model. We’ve always prioritised relationships, and while we may not have been the first choice for some retailers, those who believed in our strategy have helped us succeed. We’ve been in India for around 15 years, with long-standing partnerships that have helped us build a strong foundation in the market. 

Korea and Japan are currently our biggest markets in Asia, but we see India moving up to second within the next two years. The Indian market isn’t yet as mature as Japan, for instance, and still holds considerable potential, especially as we expand into tier-two cities. China is a challenging market to penetrate, and while we were strong there at one time, we’re less affected by slowdowns as some of our competitors are. 

How many outlets are you present at, and why doesn’t Frédérique Constant follow a boutique model in India? 

Sixty-four, divided between Helios and Ethos, and as for boutiques... not yet. We have boutiques in markets like Korea, Qatar, Malaysia, and Indonesia, always in partnership with local retailers. Opening a boutique requires significant resources. We may consider it around 2025 or 2026, but right now, our focus is on what’s in front of us. We still have a lot of growth to achieve through our existing channels. 

Who are your primary competitors in India? 

Brands like Rado, Baume and Mercier as well as Longines in terms of price, though the product is quite different. We have a unique positioning within the industry by offering well-finished, affordable products across different segments—from sport-chic models to high-end, limited editions.  

What are some of your best-selling models in India? 

Interestingly, our best-sellers include ladies’ models, which were specifically designed for women by women. This has resonated well with female buyers in India, many of whom are now purchasing luxury watches for themselves. In terms of revenue, our Worldtimer with a blue dial is also very popular among men. It’s an accessible yet innovative timepiece, with all settings managed via the crown. 

Internationally, the ladies’ watches segment account for about 35% of our sales and is growing even faster than the men’s segment. Last year, we introduced a jewelry-focused collection called Classic Elegance Luna, which was originally meant to snag some attention in the media. However, the response was so positive that we had to increase production to meet demand. 

Are you focusing on online sales as well? 

Yes, but for luxury products, consumers still prefer to visit a store to make their final purchase. Online has become more of an information and research tool, which is why it’s essential for us to maintain transparency online. We provide clear technical specifications, and everything we label as ‘manufacturer’ is designed, produced, and assembled in-house. 

As a brand under Citizen, how independent is Frédérique Constant? 

While we’re part of Citizen, they give us considerable autonomy. Our strategy and operations are largely independent, and we collaborate only in certain markets for distribution. In India, we operate entirely separately, even though we share some of the same retail partners. Strategically, we occupy different segments. Frédérique Constant is a Swiss-made, accessible luxury brand, while Citizen serves a broader market. For now, it makes more sense for us to grow independently. 

What’s your two-year strategy for India? 

It’s about increasing brand visibility, enhancing support at the point of sale, and ensuring that our retailers and sales staff are well-trained and knowledgeable about Frédérique Constant. Many people may not recognize our name on the street, but we want every customer leaving a luxury watch store to know about us. Communicating our identity as a Geneva-based manufacturer is critical, as this positioning sets us apart. At this stage, we’re not looking to add more partners. Both Helios and Ethos are growing with us, and we’re focused on ensuring we align with their plans to continue scaling together.