In a conversation with BW Retail World, Pratiek Kapoor of Kapoor Watch Company said online discovery is driving intent, while store-led expansion is targeting rising demand in key cities
As digital engagement deepens in India’s luxury retail landscape, high-value categories such as watches continue to see a clear split between online discovery and offline conversion. Kapoor Watch Company notes that while digital channels are driving consumer intent, physical stores remain central to final transactions.
“In a product like ours, where the ticket price is very high, pure e-commerce does not make sense because clients want to come and experience the product,” said Pratiek Kapoor, Director, Kapoor Watch Company, on the sidelines of the opening of the brand’s first standalone Tag Heuer boutique in India, launched in partnership with Kapoor Watch Company and DLF Retail.
He added that the company’s website attracts nearly 3 million annual visits, with digital contributing about 7–8 per cent of revenue primarily through lead generation rather than direct transactions. While all the other revenue contributions include the service centre, which accounts for approximately 2–3 per cent, with the remaining share driven largely by physical retail, underscoring the continued dominance of store-led sales despite rising digital engagement.
Kapoor said the digital journey typically begins months before purchase, with customers researching extensively before visiting stores. “We make sure we are present when the customer is doing their due diligence. We want to be in the customer’s mind during that discovery process,” he said, highlighting how online discovery feeds into offline conversions.
Despite the digital push, physical retail remains the primary revenue driver, with the company operating 19 stores and reporting revenue of INR 508 crore. A significant concentration remains in Delhi NCR, which houses 17 stores and contributes the majority of sales, underscoring the region’s continued dominance in luxury consumption.
Founded in 1967 as a watch repair centre, the New Delhi-headquartered retailer has evolved into a third-generation luxury watch retail and service group, acting as an authorised dealer for several Swiss brands including Rolex, Tag Heuer, Rado and Tissot. It now operates multiple showrooms across cities such as Delhi, Gurugram and one in Pune.
Expansion Plans
The company is now looking to gradually expand beyond its core market, with planned entries into Mumbai, Chandigarh and Jaipur over the next two years. “Mumbai is our big break because it’s a huge market, a huge client to cater to.We don’t have a store there today to direct clients to,” Kapoor said that they will be opening a store there by end of this year, indicating that expansion is aimed at converting existing demand into in-store sales.
Further additions include Chandigarh, with a planned store at Elante Mall, while Jaipur is being explored as a key entry point into Rajasthan. The expansion roadmap extends through mid-2027 and is aimed at converting existing demand in these markets into store-led sales.
Its retail strategy continues to balance exclusive brand boutiques with multi-brand formats, depending on market viability. “Not every brand can sustain an exclusive boutique… it needs to make sense in terms of revenue, turnover and long-term sustainability,” Kapoor said, pointing to a selective approach in partnerships with global watchmakers.
After-sales service, while not a significant revenue contributor, remains central to the company’s operating model. “Service centres are not a money-making business. It complements our retail business,” Kapoor said, adding that strong service capabilities are essential to sustaining retail expansion and building long-term customer trust along with sustaining their foreign partnership with Swiss watches.
The company also highlighted a shift in consumer demographics, with younger buyers increasingly driving demand. “Most of our clientele today is between 20 and 40,” Kapoor said, adding that digital outreach, in-store experience and marketing initiatives are aligned to cater to this segment shaping the future of luxury watch consumption.
