Established 2013 by Gaurav Mehta, Jaipur Watch Company is the first micro-luxury watch brand in India. The company focuses in creating watches that combine contemporary design with traditional Indian history. Their timepieces have a special cultural appeal because they include pre-British era money, stamps, and classic artwork.
Their two main categories are “Pret” watches between ₹20,000 and ₹50,000 and “Bespoke” watches running from ₹1.5 lakhs to ₹24 lakhs. While highlighting India’s rich legacy, the brand seeks to appeal to the luxury market and has attracted interest by showing up on Shark Tank India, where it was able to receive financing.
Company Name: Jaipur Watch Company
Founder: Gaurav Mehta
Product: Micro Luxury Watch
Highlights
1. Pioneers in combining Indian history with luxury timepieces, first Indian Micro-Luxury Watch Brand
2. Watches have Indian cultural themes like pre-British era currency, postage stamps, and traditional artwork.
3. Two Principal Product Groups:
Priced between ₹20,000 and ₹50,000, pret-watches
Custom-made clocks ranging in price from ₹1.5 lakhs to ₹24 lakhs.
4. created in India: proudly created in Jaipur, stressing the link of the brand to the rich legacy and workmanship of the city.
5. Aiming for the high-end market with premium designs and an emphasis on customisation, luxury appeal is achieved.
6. Shark Tank India Appearance: Drawn national attention and funding for the program, therefore enhancing brand reputation.
7. Recently acquired ₹1.6 crores in money to increase marketing and inventory, so promoting future expansion.
Pitch Details
Ask: ₹50 lakhs for 2% equity, valuing the company at ₹25 crores
Deal: After negotiations, deal couldn’t happen
Investors: NO DEAL
Conclusion
Presenting Shark Tank India, Jaipur Watch Company’s presentation on this first micro-luxury watch brand from India emphasized its special position as blending rich cultural legacy with fine workmanship. Targeting the luxury market with both reasonably priced and high-end choices, the brand focuses especially on handcrafted, legacy-inspired timepieces. Their show presence attracted interest and money, which helped them to grow their brand and range of products even further. Their expansion in marketing and inventory control would be supported by the secured funds of ₹1.6 crores, therefore promoting their presence in the luxury watch sector.
Key Takeaways from the Episode
1. The secret is innovation. Change products to fit consumer demand; for example, add special elements to improve value.
2. Negotiate wisely; know your value and be ready with a powerful counteroffer.
3. Use technology for social benefit. Apply technology to address practical issues including enhancing healthcare.
4. Value expertise: Work with professionals to properly expand and size your company.
