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Watch dials unit plans investment in Switzerland

Sushma Ramchandran

Seeks to raise its market share

NEW DELHI: Kamla Dials and Devices Limited (KDDL), manufacturer of watch dials, is planning to either take over a running unit or invest in a greenfield project in Switzerland. With this strategy, the company seeks to raise its existing seven per cent market share in Switzerland to 30-40 per cent.

KDDL Chairman, Yashovardhan Saboo, told The Hindu that his company, which has units in Uttaranchal and Himachal Pradesh, was at present meeting 80 per cent of the Indian watch market's requirements. A supplier to major manufacturers like Titan, Timex and Maxima, the company's next step was to opt for setting up a unit abroad to enable easier access to the large European market, he said.

With this road map, he plans to raise the company's existing turnover of Rs. 60 crore to Rs. 250 crore over the next five years. As for exporting dials to Switzerland, he said it was extremely difficult to get a foothold in this market owing to stringent quality conditions. Besides, stiff competition has to be faced from Chinese suppliers of watch components. However, after having established quality products, it was time to capitalise on the past export efforts, he said.

Mr. Saboo said that capturing 30-40 per cent market share in the Swiss watch industry would be made possible through taking over a functioning watch dials unit or buying out a closed plant or setting up a greenfield plant that could cost about $3-7 million.

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