Time has a wonderful way of showing us what really matters. Things that lure us today may not possess the same charm over time; with repetitive designs and dreary concepts in line of production. That is what’s happening in the watch market where stainless steel, leather and silicon have become synonymous with nuts and bolts.
Observing this downhill slope in the market, hostel mates in Mumbai – Haider Ali and Abdul Kadir Bhandari (Founders of TSAR) were prompted to look deeper. Haider stumbled upon the idea of wooden watches. It was certain that the product was not available in India, making the prospect even more challenging.
The idea was to enter the $224 Mn wrist watch segment in the country by making wooden watches. Giving wings to their aspirations of starting up a company, they ventured on a rare concept of wooden watches. Abdul explored his options to find out more about the product and its availability in India.
The idea was that Stainless steel, leather, and silicon watches did not offer the distinct features of luxury and detailing. Being the only company in the production of wooden watches in the Indian subcontinent, TSAR inc enjoys the first movers advantage.
Within first two months of its operations, the company saw 100% growth and made INR 2,76,000 as revenue.
A promising start convinced the founders of the idea of going ahead with what they believed would make a mark in uncharted sector of luxury segment. According to an official statement,, Indian consumers are increasingly showing an interest in owning premium and luxury watches, a trend that has continued to gather momentum towards the end of the year.
For a new brand in wrist watch industry, these figures are encouraging. With continuous 100% M-o-M (month to month) growth, the company claims to have sold 255 watches (crossing mark of INR . 8 lakh in revenues) within 5 months of operations.
Commenting on the development, talking about the journey so far, Abbas Akbari, Head of operations, South India and partner, TSAR Inc said, “We have realised that we are more of wood company than watch company. We now plan to introduce wooden sunglasses, wooden notebooks, wooden car freshener, wooden toothbrushes, wooden clocks, etc.”
Wood as an idea for luxury product appears unique. Natural oils on the user’s skin personalise the wooden watch. Also, wood is naturally resistant to changes in temperature and climate. It will never rust due to being in damp climate conditions.
TSAR was recently official Time sponsor for I-5 Summit (a Start-up initiative of IIM & IIT Indore).
The company works on a partnership based model, and for that the company aims to strive for luxury segment and for that needed a brand and strong manufacturing + marketing base. Since the partners are graduates in Business management and Masters in Commerce, they had a fair idea of what was to be undertaken with regards to proceedings and registration.
It was just a matter of time as the channel partners from Delhi, Mumbai, and Chennai got associated with the company. A Head of Operations was appointed in each city that would be responsible for all the activities in the city.
Stretching its international reach, partners from Kuwait and UAE launched the wooden watches in Middle East.
TSAR plans to expand its operations forward by expanding to tier 2 cities of India including Surat, Ahmedabad, Chandigarh, Hyderabad, Bangalore, Kolkata, Bhopal, Jaipur, etc. Apart from domestic market TSAR is also eyeing nations like Saudi Arabia, Sri Lanka, Oman, Egypt, Qatar, Iran, South Africa, Australia, and New Zealand.
TSAR is also working towards creating new designs. It is also planning to establish a manufacturing facility and under Make in India initiative. Owing to the upcoming festive season, the company plans to the latest models in Ebony, Maple, and Red Sandalwood too.