Premium lifestyle watches and accessories brand Fossil Group has entered India by opening its first stand-alone concept store in Gujarat, according to a leading daily. After Walmart and Tesco, Fossil has thus become the third FDI investor in India.
The brand has thus entered the multi-brand retail market of the country with its Watch Station International (WSI) store at Vadodara.
According to a recent Dun and Bradstreet report, the watch business in India stands at over Rs 5,000 crore. Watch retailers saw a 17 percent increase last fiscal and in the next five years, the market is expected to grow in double digits.
The paper states that as of now, Fossil watches are available in around 500 stores across the country in association with Ethos, Helios, etc. apart from its own website.