From establishing digital roots to a rapid physical expansion across India, TimeVallée’s recent entry has already transformed the country’s luxury watch-buying experience. Launched in partnership with India’s Art of Time, this Richemont-owned multi-brand concept has opened three Indian stores in quick succession—making India the sixth country in Asia to feature the TimeVallée experience. With a global presence of over 50 boutiques, TimeVallée showcases a selection of premier Richemont brands, including Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Roger Dubuis. 

We spoke with Michael Guenoun, Global Head of TimeVallée, along with Gaurav Bhatia and Bharat Kapoor, Co-Founders of Art of Time, to explore how this collaboration is setting new standards in India. From shifting consumer preferences and the role of technology to the significance of local partnerships and elevated after-sales service, they share their insights into the evolving Indian luxury watch market. Excerpts: 

What can you tell us about TimeValée's footprint across Asia? 

Michael Guenoun: Today, for TimeVallée, we have a total of 47 stores: 30 in China and 17 outside of China—none in Hong Kong. Just recently, we opened a boutique in Tokyo, in the high-end area of Azabudai. In Asia, we are present in Mainland China, Macau, Japan, Korea, and Taiwan. Additionally, we will soon open a boutique in Bangkok next month, further expanding our footprint in Asia. We aren’t in Singapore yet, though in the Southeast Asia region, we have plans to open a store in Vietnam next year. 

What about Europe and the US? 

Michael Guenoun: In Europe, we have three TimeVallée boutiques—two in Spain and one in Switzerland. The largest TimeVallée boutique in the world is actually in Lucerne, Switzerland. With over 10,000 square feet, this is a significant flagship on the street and a very important boutique in terms of sales. Additionally, we are currently expanding our reach in the Middle East and the US with an acceleration strategy in place. We don’t have any stores in the US, but we are opening two within the next six months! 

And yet, you are planning to open three stores in India very soon. Isn't India still a nascent market for luxury timepieces? 

Michael Guenoun: We are witnessing a strong acceleration in business among potential watch aficionados, indicating a strong appetite for watches. There’s a rising interest in mechanical and Swiss watches. Over the past five years, we've noticed a significant increase in interest and an evolution of purchasing power. We are extremely confident about the Indian market and its evolution. Here, we are building what we call the foundation. TimeVallée plays a pivotal role in developing the Swiss watch industry, in line with our mission. We also support our valued partners while ensuring the best possible experience for our clients. 

Gaurav Bhatia: We plan to move north eventually. There will be new projects in the future, such as the TimeVallée multi-brand boutique that opened in Chennai this August. Chennai will take things to another level—it’s a whole building with multiple floors and event spaces. 

So, why this partnership with Art of Time? Most watch brands have come to India on their own, with 100 per cent owned subsidiaries... 

Michael Guenoun: A few reasons. First, we believe that multi-brand watch boutiques are a strong complement to mono-brand boutiques. In the watch ecosystem, maintaining a balance between mono-brand and multi-brand boutiques is essential. Moreover, we have developed the ‘TimeVallée concept’. We do not run any TimeVallée boutique directly. Instead, TimeVallée serves as a retail concept designed to support our partners and the Maisons, while also enhancing the client experience. 

It came naturally for TimeVallée to partner with Art of Time, as they are the experts on watches in India. Across our expansion efforts, we prioritise partnerships with local entities that have strong roots in their respective markets. The strategy of TimeVallée as a multi-brand boutique is always to support partners in their retail expansion. We always partner with local retailers. 

Why did you choose Art of Time over others?  

Michael Guenoun: As mentioned, we only work with what we call the crème de la crème, the best watch maisons. Therefore, we want to work with the best partner who can bring added value to clients and operate the boutique effectively. Art of Time has been in India and the watch industry for a long time, so a partnership with TimeVallée just made perfect sense. 

The same question goes to you, Gaurav; why would you sacrifice one of your prime stores for TimeVallée? 

Gaurav Bhatia: I don't think it’s a sacrifice. When we started Art of Time in 2015, our aim was to introduce a unique luxury experience to the Indian market. So, we went for a large store with spacious corners for each brand. After seven or eight years, though, we realised our store needed a revamp, to evolve with the times, and to offer a fresh concept that would captivate our clientele. It’s all about the experience now. We went through extensive discussions and presentations with TimeVallée and felt it was the right time to bring something of this magnitude to India. 

There’s a new interface in play, a CRM program, so we can stay in touch with customers. It's something we haven't done before. We’ve run this boutique like a mom-and-pop store but a very nicely done one. Now, with TimeVallée, we’re stepping up the experience and bringing a world-class brand portfolio to our clients in India. 

And what happens to the other Art of Time stores? There won’t be any cannibalisation, you think? 

Gaurav Bhatia: No, there won’t be. We have Art of Time in South Bombay with a different brand mix, while some brands remain the same. Each boutique is unique, catering to different clienteles and demographics. We view it as an expansion, increasing our market share and presence, so I don’t see any concern about cannibalisation.  

Bharat Kapoor: Mumbai is a large city, right? Bandra is more vibrant, buzzing, while South Mumbai has the ‘old money’ clientele. So, for us, the stores complement each other rather than cannibalise. 

Watch retailing in India has traditionally been very personalised. How will you divide that between Art of Time and TimeVallée, or is the business itself changing? 

Gaurav Bhatia: It’s a natural flow. Whoever comes to whichever store, we don’t divert anyone. We have stores in both locations, so nothing much has changed in that sense. And luckily, our branding helps keep everything clear for customers. 

How has watch retail changed since you started in 2015? 

Gaurav Bhatia: A lot. Back then, people focused on basic watch references—automatics and even quartz. However, over the past nine years, we’ve seen a shift toward more complications. Our clientele has matured, and they’re more interested in grand complications—perpetual calendars, tourbillons, minute repeaters. It’s all about exclusivity now, with limited editions highly sought after. 

Bharat Kapoor: With social media and Indians travelling, they expect the same luxury experience they see abroad. Our endeavour is to meet, if not exceed, those expectations here. 

Are more people buying watches locally now compared to before? 

Bharat Kapoor: Yes, that has changed drastically. Pricing in India is now very competitive, and brands are more conscious of accurate pricing here. The old mindset of purchasing abroad for cheaper has shifted. People find it comfortable to buy in India, knowing it’s an authorised retailer and getting immediate registration and warranty from the brand. 

What does TimeVallée offer that other retailers in India don’t? 

Michael Guenoun: TimeVallée is more than just a beautiful boutique; it's an ecosystem with a strong concept and partnerships with the Maisons. We create memorable experiences through collaborations, like our recent partnership with Concours d’Elegance and the Mandarin Oriental Group. It’s about bringing people together around luxury watches and offering unique events and experiences. 

And the many brands you have here, some with their own mono-brand stores—how do you address concerns of oversupply in the Indian market? 

Michael Guenoun: Mono-brand boutiques attract specific clientele, but traditional multi-brand stores often lack a compelling value proposition beyond transactions. That’s why we’re accelerating with TimeVallée, offering a differentiated experience with exclusive models and a unique retail concept that multi-brand clients seek. 

As the market expands in India, do you face challenges finding knowledgeable staff? 

Gaurav Bhatia: Yes, it’s been challenging. But we’re focused on hiring people with the right personality and communication skills, and then training them on watches. Brands also support us with training programs, which TimeVallée organises to ensure our team is knowledgeable. 

Michael Guenoun: TimeVallée partners with the Fondation de la Haute Horlogerie, which trains watch associates and watchmakers globally. This collaboration helps us retain top-tier sales associates with enhanced proficiency. 

In terms of after-sales service, how does TimeVallée differentiate itself from other retailers? 

Michael Guenoun: We’re accelerating customer service and supporting our partners to become authorised repair centres for some Maisons. A mechanical watch is a sustainable product that can be repaired indefinitely, aligning with our values around longevity and sustainability. 

Finally, what do you see as the future of the watch industry in Asia and India? 

Michael Guenoun: We’re very fortunate in this industry. There’s growing interest in Swiss mechanical watches, especially among younger generations. 

Gaurav Bhatia: We’re just scratching the surface. Social media and aspirational appeal have increased demand significantly, and we’re excited about what’s ahead. 

Bharat Kapoor: With a large and growing population, demand will continue to rise. It’s just about getting the right brands and partners.