qnet introduces historic swiss watch brand mugnier to india
TRANSCRIPT
Feb 18, 2021 12:32 +08
QNET Introduces Historic Swiss WatchBrand Mugnier to India
Supports ‘Make in India’ initiative by producing new range of watches in India
February 11, 2021: Ecommerce-based direct selling company QNET hasbrought a historic Swiss watch brand to India exclusively for its network ofcustomers and distributors. QNET today announced the launch of Mugnier inIndia, a Swiss watch brand founded in 1786 by watchmaker Etienne Mugnierin France, who went on to be appointed watchmaker to the Emperor in theearly 1800s.
QNET has introduced three new collections under the revived Mugnier brandfor its India market – Semper (Classic), Mode (Fashion), and Invictus (Sports).These new timepieces are inspired by historic Mugnier creations with Swiss-made movements and components. In a first of its kind initiative for a Swisswatch brand, these timepieces from Mugnier will be assembled in a high-techfacility in India in line with the government’s Make in India campaign. Thenew Mugnier collection features timepieces that range from INR 86,000 toINR 1,80,000.
Vintage timepieces from the centuries old Mugnier brand, as recently revivedby QNET for its Indian market, are today only available in museums and eliteauction houses such as Sotheby’s and Christie’s. A masterpiece created forEmperor Napoleon by House Mugnier in 1812 —an 18 ct. gold, half quarter-repeating, self-winding watch with power reserve indicator and the gilt initial‘N’ for Napoleon — sold for USD 285,000 in 1993.
Swiss historian Yves-Pierre Donze, whose expertise is global business history,and who has worked extensively on the history of the watch industry found inthe course of his research that Charles Mugnier, a descendant of EtienneMugnier, was listed in a directory published in Paris in 1812 which refers tohim as among the ten most important clock and watchmakers of the city,specifying that “he manufactures haute horlogerie himself”.
The new collection of Mugnier watches launched by QNET in India carries thesame brand promise with designs that bring to life the unique blend ofcomplexity and detailing previous Mugnier creations were known for. Thewatches feature state-of-the-art craftsmanship with the finest materials andscrupulous attention to detail in accordance with exacting Swiss standards,adopted by the production facility in India.
QNET’s global CEO Malou T Caluza commenting on the launch of Mugnier inIndia said, “We have seen a shift in the Indian consumer in the last decade or so.As disposable incomes have grown for the upper-middle class, the watch hasevolved beyond being an instrument of utility. We are witnessing a steadyincrease in those who proactively seek out watches as items that signify alifestyle; pieces that are a symbol of professional and entrepreneurial success.”
India’s luxury watch market is a trending movement. A new brand of watchaficionados is emerging particularly with a greater and more educatedappreciation for details which constitute a fine example of horology yet
maintaining price sensitivity unlike ultra-luxury brands.
“By assembling the Mugnier watches in India under strict quality controlmeasures comparable to Swiss ateliers, we not only offer affordable luxury to ourcustomers we are also supporting the government’s Make in India initiative andsupporting local industry. We are targeting the emerging demographic of watchlovers in India who are priced out of the high-end luxury watch market but havean appreciation for watches with a provenance and story. We estimate our overallluxury products portfolio in India, which also includes the CHAIROS brand ofIndian watches, will constitute 25% of our entire sales volume by 2023,” saidRishi Chandiok, Director (South Asia) for QNET.
Mugnier expects to launch between six to eight new models in India in thenext 24 months.
About QNET
QNET is one of Asia's leading direct selling companies offering a wide rangeof health, wellness and lifestyle products. QNET's business model pivotingupon technology and e-commerce has helped empower millions ofentrepreneurs in more than 100 countries worldwide.
QNET is headquartered in Hong Kong and has a presence in more than 25countries around the world through subsidiaries, branch offices, agencypartnerships, and franchisees.
QNET is a member of the Direct Selling Association in several countries, aswell as the Hong Kong Health Food Association and the Health SupplementsIndustry Association of Singapore, among others. In India, QNET operatesthrough its sub-franchisee Vihaan Direct Selling (Pvt) Ltd and is a member ofthe Health Foods and Dietary Supplements Association (HADSA), ASSOCHAM,and CII.
QNET is also active in sports sponsorships around the world. Some of themore prominent partnerships include being the Direct Selling Partner ofManchester City Football Club and the African Club League Championships ofCAF.
