Everyone love watches. Don’t you? Watches are among the very few accessories that have undergone a striking phylogenesis through recent years. Watches evolved in the 17th century from spring powered clocks, which appeared as early as the 14th century. Today, it is nothing less than a fashion accessory; and post that a high-tech wearable device.
From luxurious brands like Rolex & Louis Moinet to smartwatches brands like Google & Apple, the industry witnessed a CAGR of 9.3% for the period FY’2008-FY’2013 in India. Perceptions attached to watches are changing, and watches are considered an essential utility item in 2017. In 2012, the market size of the Indian time wear industry was approximately ₹4,000-4,200 crores.
While Titan is the market leader in the organized segment with almost 65% of the total market share, there are numerous other brands doing well. The market has a huge potential in terms of value and volume because the penetration is minimal and the unorganized sector is quite large.
Haider Ali, a watch enthusiast, sensed the opportunities in the wearable watch industry and came up with an idea. An unusual but amazing idea struck his mind while opening his box of watches. While he waggled his watches he noticed that each and every single piece was made of some kind of metal. And the quest started with a simple question “Why only metal watches?”
Haider Ali Lashkar with Abdul Kadir Bhandari & Abbas Akbari launched Tsar (meaning Emperor in Russian), a lifestyle watch brand that sells wooden watches. Based in Indore with offices in Chennai & Mumbai, Tsar Watches sold 72 watches within four months and had a revenue of Rs 3.15 lakhs in that period. Most of this traction has been from India and the Middle East.
Made of koa wood from USA, dark sandalwood from Africa and walnut wood from Canada, the startup manufactures super light weight and eco-friendly products. And wood has it’s own spiritual benefits, as the startup claims.
“TSAR is a self-funded company. All three partners have invested their money through savings from previous jobs. People usually look something that is new, trendy and fashionable. A watch also being a very important accessory to one’s attire gains a lot of attraction. We are here to give people more options than the very regular metal, leather, etc. watches,” says Haider Ali.
Facebook & Instagram has played a vital role in the marketing of Tsar watches. Apart from social media and online marketing, offline events like exhibitions help the growth of the startup in certain ways. However, word of mouth makes the most out of promotions as the customers are the chief promotional partners for any startup.
Haidar Ali Lashkar and Abdul Kadir Bhandari initiated the foundation and later joined by the third; Abbas Akbari. The former two are based out of Indore and holds a graduate degree in Management Studies from Hinduja College and NM College respectively. All the three of them shared rooms during graduation in Mumbai. While Abbas is a graduate in B.Com from K.C.College.
Before starting TSAR Haider worked in a Mumbai-based company Wood Ware Pvt Ltd, Abdul Kadir worked as Deputy Manager in E-Commerce Company named Ezzy Bazaar Pvt Ltd, Abbas worked as a process analyst at Ford Motor Pvt Ltd.
“We are working on more designs which are not just attractive but also deliver the TSAR experience. We have plans in the pipeline to increase the collection and offer more choices to our patrons,” comments Abbas Akbari.
Tsar has simple revenue models. Profits drive in by selling across channels like Amazon, Paytm and Flipkart and some certified Instagram retailers. Tsar Watches prices range from ₹3,500 to ₹5,000. The founders are positive about increased competition as this will increase the buzz.
There are other watch companies that you can try, thewatchcompany.com is one of them. Visit them to find some great collection.
With agents and channel partners across the country and overseas including cities like Delhi, Chennai, Mumbai, Kuwait, Dubai and the UK, the company has managed to gain positive reviews from customers. They not only stock the products but also bring in institutional sales, facilitate various collaborations, grow dealer networks and help in buzz promotion and directing the feedback.
However, the founders are serious towards the environment, and the company has tied up with a noted national NGO ‘Grow-trees’ that works in the field of environment conservation.
“A social policy of planting a tree with each sale forms our core values and also fulfills CSR activities. One of our plans includes exporting our product to other countries. We have started on a small scale in Africa. But we plan to expand it to Europian and American countries as well,” adds Abdul Kadir.
Start early. When you have something good something right, and you know it’s going to make a difference to the overall society just go ahead and do it. Do not waste time only thinking. Make a plan and start soon.