Why Is Watchmaking So Difficult? The Business Behind Luxury | Gaurav Mehta | FO555 Raj Shamani

How do you make a watch? >> Why people call that watch making is. complicated? >> I got something for you. What goes. inside this small little moment? Roughly. 170 to 200 components go inside this. >> in just this. >> Yes. And this is why people say Swiss. precision, Swiss engineering, Swiss. movements. This is why watches are. expensive. This is why mechanical. watches are more expensive than. interesting.

How did you get PM Modi to wear your. watch? >> The watch which he's wearing today is. this watch which is called the bag. watch. So how much is it for? >> This is 60,000 rupees. I don't even know. how it reached. One day a image came. where he was in a rally and his hand was. like I could see the watch clearly. >> I spoke to a friend who does celebrity. watch sporting pages on Instagram. Shared it with him. I said boss this is. what has happened. He said don't tell. anyone. I'll post it first. He post it. Within few hours it reached a million. views. Next day onwards, every Instagram.

page was posting the same thing. >> What were the numbers in sales? >> Sales went out of the roof. Within one. week, we sold 1,000 watches. And right. now, till this date, as we speak, we. have 1,500 plus people in weight list. for this one watch. >> How can I make money in watches? >> You go to a website called Chrono24. >> They show you the trend of prices. You'll see that graph has fallen down. >> Why? >> See, it's very similar. You know the. FOMO market luxury is about FOMO that.

this watch is not available anywhere. I. have this I'll charge you 3x of the MRP. and you pay it and you can have it now. and you can post it in your friend. circle. That is FOMO. So that for more. how I think is going down. Tell me if someone's watching it for the. first time and thinking that I want to. build my own watch collection. What. should be the first three watches to. start building your own collection? If you're asking me someone who has a. taste as for me I'll say start with a. kartier first a good nice rectangular.

watch second I'll say when you have more. money in your pocket probably go for a. experimental brand don't fall for a. Rolex or AP rather buy something. classier probably go for something like. a Omega Speed Master and number three. for me the best watch maker in the world. >> how do people make money on watches like. this one was bought $200 and now today. is $17.8 million. Like what what's the. story around this? What makes this one. so special?

>> Cuz. I have a small favor to ask you. I need. you to subscribe to our channel. The. more subscribers we have, the better and. bigger guests we can bring and provide. you more value through these. conversations. And also the full audio. experience of the show is available on. Spotify where you can follow us and. stream and listen to all your episodes. One of the biggest business. opportunities in the world today is in. the luxury sector. The global luxury.

watch market is worth nearly $60. billion. A handful of Swiss brands. dominate it and the secret has been. marketing, storytelling and scarcity. Our today's guest Gorav Meta, founder of. Jaipur watch company has built in this. industry from scratch. He sold his BMW. to start this business in 2013 and today. his company runs multiple store with its. first international store opening soon. In this episode, we'll discuss what goes.

into building a luxury brand from. scratch. How did Swiss watches conquer. the world? And where are the biggest. untapped opportunities in luxury today? Watch this episode till the end and to. know more about Jaipur watch company. check the link in the description. Let's say someone bought a watch for. couple of hundreds of dollar. >> today is worth. >> 17.8. >> 17 20 $30 million. How do people make. money on watches? Like this one was.

bought at $200. >> and now today is $17.8 million. Like. what what's the story around this? Like. this is the story again you got. I'll. tell you the story around this. >> This was one of the worst performing. models for Rolex. It hardly sold. >> Okay. >> Okay. So when it is hardly sold, it was. shelved. >> We are not talking about the times when. Rolex is in weight list and everything. will sell. No, >> this was the time when it hardly sold. and it was sheld. >> This particular model was given to Paul.

Newman with his signature or his name on. it with some personalization on the back. of the watch. >> Okay. And when it came out, there was no other. model available like this. >> And to top it up, it had his signature. >> So it made it more valuable and. extremely rare because this is the only. piece in the world right now. >> But. that's how the Daytonas became more. popular right after this because Daytona. used to be one of the worst performing. models for Rolex prior to this auction.

>> But then Paul watch became the thing. >> No. Then the regular Daytonas which they. have they became the thing. >> because of one guy. >> because of one guy and because of one. watch which was sold. >> But why specifically this one like Paul. Newman's Daytona? It could have been any. other watch. >> It could have been any other watch. But. the point is this is one of the few. models which are not available. >> and why can't they make it again replace. it? >> The age you know. >> this is another watch. >> Yeah. >> This one somebody bought it for like.

$2,000 and now today 17.6 $6 million. >> stainless steel. Uh hardly any models. came out in stainless steel with this uh. version. They were majorly in precious. metal. And what happens with precious. metal is even though they are good but. uh generation after generation metal. cost becomes so much that it exceeds the. value of the watch and people eventually. melt it. >> But stainless steel watches the same.

brand would have 20. No, >> that is why these are one of the few. remaining models which were left. >> So they don't have any stainless steel. models now. >> of this particular. >> but they can't even. >> they can make it again. Of course they. can make they won't. >> they won't make it now. >> But the first story is because this was. the first stainless steel watch. >> Yeah. >> And people bought it for $76 million. >> Yeah. This is not because it was the. first stainless steel watch because this. was one of the stainless steel watches. which survived. >> Okay.

>> Normally gold watches people would melt. M. >> because gold value would exceed. >> since it was stainless steel it. survived. >> Got it. >> Yeah. This is a Gerald Genta's. >> what. >> you don't know. Okay. We need to know. about Gerald. Okay. >> And I'll tell you my connection also. with Gerald Genta. >> Okay. >> So Gerald Genta is the legendary. designer in the watch industry. M. >> So the AP royal lake or royal oak what. you see the partifilip nautilus what you.

see. >> all these shapes all these iconic. designs all these iconic models were. designed by one man. >> Geraltenta. Algent. and he was probably you know way ahead. of its his time and you know because of. him these brands survived. because of his designs these brands. survived. >> but if all of them were designed by him. what makes this one so special.

>> because I think this was Geral Jenta's. own watch. >> okay. >> what you're seeing here. >> that's why it's for. >> one man can decide destiny of so many. watch brands just by his designs which. still live and which still are the most. popular part Philip. What image comes to. your mind? Nautilus. >> Yeah. >> AP Royal Oak. >> So these are the designs done by one man. and there are many more.

>> So he's like the. >> he's like the godfather. >> godfather for the watch industry. >> Okay. He was the one who introduced. complications like jumping R. Uh this u. funny very funny. >> Why funny? Like this is 2021. >> I know. I know. >> In 2021, if I would have invested 50. lakh on this watch, >> I would have been sitting on $6.5. million. >> Yes. But if you buy it now and if you. sell it now, this price has drastically. gone down. So it's not like every time. you'll make money in watches. If you try.

to sell it now, probably you'll get uh. you know 100,000 or $200,000 for this. watch. Yeah. >> Why did it make it 6.5 million? >> Because this was for the first time. >> A funny story you were saying. >> Uh this was a collab between Tiffany and. Party Phillip. >> and uh this color which is known to be. the Tiffany color. >> So that's how it became so popular. As. soon as it was launched, it was flipped. in the market. >> So but now it's easily available. Not.

easily. Of course, Party Philip is never. easily available, but it's still. available and you can find it in the. market for a cheaper price now. So, not. every watch which was sold for a high. price remains at a high price. >> Tell me how. >> So, this market is dynamic. >> But how do you decide what are the how. can I make money in watches? So if you see that you know if you think. that you're going to make money in. watches and you are investing in watches. for the sake of making money in watches. probably you'll never end up making. money.

>> Why can't I not like can I not spot I. understand. how you expect how can you expect that. the model you own will become rare or. will become in demand probably 30 40 50. years from now. >> But a lot of people do that now at least. they give excuses. A lot of people flip. watches. >> Uhhuh. And they give excuse that hey you. know what. >> it's not available and. >> no no no the excuse is I am buying. watches because one day it will make me. so much money and it's it's store of. value it will become high price. I mean.

looking at these watches looks like my. grandfather instead of buying plots he. should have bought this. He didn't he. neither bought plot. >> He bought. >> he didn't buy plot. He didn't buy. watches. I'll tell you see not every. year you know the return so there were. two or three years continuous back to. back where watches gave more return than. any other asset class in the world. >> okay that has changed completely you go. to a website called chrono24.

>> you go there you'll see they show you. the trend of prices year by year or. month by month also that specific. >> you'll see that pie chart has you know. that graph has fallen down. >> for some of the iconic models like you. see Daytona used to go at a very high. premium now you'll see it's gone down a. lot of people have lost money because. they came in late. >> because why because see it's very. similar you know the FOMO market it's a. FOMO market at the end of the day luxury.

is about FOMO. >> luxury is about creating FOMO luxury. selling is also about FOMO that this. watch is not available anywhere I have. this I'll charge you 3x of MRP and you. pay it and you can have it now and you. can boast it in your friend circle. That. is FOMO. >> M. >> you know so that FOMO how I think is. going down. this new thing which has come up which. is the no label luxury. >> you know I think that is shaping up.

nicely. >> quite luxury. >> quite luxury that is shaping up nicely. and uh like I said in the beginning also. this generation is amazing and I think. they are not just changing for. themselves they are changing for other. people also so you'll see a decline in. lot of items which were in high demand. long back because this generation is not. chasing that. >> first tell me how did you start what's. your story Where did you come from? Why. this? >> Yeah, >> who are you? >> This is a very you know odd industry to.

enter into and uh you know from my. journey in UK. First thing I bought myself was a watch. >> Not a very famous watch but a fashion. brand. I just it was a I think or I. bought a fashion brand that time. But I used to like watches and. I would buy watches. When I came back to. India, I realized HMT.

and because. they used to sell HMDs. So they had an. office over there. So. I would buy a lot of them. started building a passion for watches. slowly and.

how they function. So I would open up my. own watches and see how they function. Okay. Put them back together. were the ways to kill time that time.

coins where it had like lot of coins. which puran British India. countries so it was not a themed based. collection it was just a holding kind of. a thing. marriage sister father-in-law. he is one of the renowned coin. collectors of India Yeah. Okay. Sister's father-in-law. Yeah.

Coin collection. This is holding and you. need to define a theme to your. collection. Okay. So I'll pick British India as a theme. because they are easily available coins. at least. easily available. and I started building on that colleins.

coins coins like eBay. eBay Hey. coins coins. So. it was more like silver. Silver was cheap that time. >> But why would you do that? >> Just to build my collection.

>> And what would that collection give you? >> Just so any collector you know for any. collector. >> there are two motives. >> Uh one is I leave a legacy for my. children. >> Okay. Which is 90% of the mindset of the. collectors.

And you'll be surprised. next level. passion is coins and stam collecting. >> Okay. >> Yeah. So lot of big big guys. >> Okay. >> So they do it because uh either. intention is to leave a legacy of their. own name or the intention is to leave a. legacy for their children.

>> Okay. So you would do that then. I was just collecting coins. but interesting coin. I'll show you the. coin also. So coin.

because World War II coin okay. >> and they wanted to save metal. So they started punching holes in the. coin. Okay. The hands back and I started wearing it. or I can show you that watch.

>> Show me. So. >> So this is someone else's watch. >> Yes. This was the first watch. and this was Maxima. Yeah. >> Okay. So, you made it. >> Yes. >> Okay. And you did it yourself? >> I did it myself. So, I started wearing. it proudly and.

next. almost 80%. Okay. So I told them this is a watch I. made. So they said. I'll pay you. That was like. I mean I I can probably make something. out of it. I can make it into a living. because I enjoy both the things. I enjoy. watches also. I enjoy coins also. Yeah.

Smaller brands are called micro brands. in watch industry. Okay. Even I don't. know. >> Yeah. So I was not aware that you know. global level. >> So then I went to my dad.

So of course the protective reaction I. would say. So Then. >> fair for that time the advice was fair. he was not wrong. >> so he was not wrong I'm not saying he. was wrong. >> and then I went to.

>> one of my childhood friends. his name is Vish so school friend what. did he say. >> he was the first person he said okay and. I think. M. then I thought. yeah what was the first step you took.

after you decided that okay now. >> the first step was. okay. so you would go to that person watches. made. found out some manufacturers in Gujarat. and so I spoke to them. stainless steel. crystal. I was like this manufacturer where where. was he?

>> Okay. So he was like. I know watches. Tell me a difference. between the kind of watch you wanted to. make versus what was available in India. >> So I had this vision the watch should be. in stainless steel. >> Okay. >> Uh because stainless steel is something. which will last for generations you know.

>> stainless steel that's one. >> That's one. Then I wanted a sapphire. crystal on the watch. >> Okay. scratch. So I wanted a sapphire crystal on the. watch and basic requirement. or mechanical. at least the watch should last for a. very long period of time and people who.

wear it they will enjoy it. Okay. So, and then I was like. and watch factories. And then I found out watch. Okay. They. take you to factories and.

which watch company did you enter? >> So I went to the Patilip Museum which. was in Geneva. >> So that's a museum you know for for you. to book a guided tour and you can go and. they take a guided tour and you can go. there and then they take you to the. famous watch factories and m they show. you how the watch is made and. everything. as a tourist. and then I realized. but what did you find?

>> So I found in in those watch tours or. watch manufacturing facility. >> So they were next level you know. >> what was next level. clean. assemble you know that was for the first. time in my life I saw that. >> What is a clean room? Clean room is. basically a room. There are like three doors. So.

I was like. that was totally reverse. Yeah. So. And then I met some peopleandom. and then I realized one thing.

We are the best in chocolates. We are. the best in watches. We are the best in. precision machining. True. People claim we are the best in. watches. So he was very senior. Now he. doesn't do it anymore. He was I think. 70.

I met him and uh I told him I want to. make watches using coins. And he was like, I have made a watch. using coin in the past. I don't have it. right now, but I can make it for you. >> Okay. >> And he sounded very sound technically. He was like, coin motoras, we'll have. to, you know, slice the coins. Who will. you slice it for me or I need to slice. it? And how will you send the coin. >> because you know you cannot send coins. from India? Uh because antiquity act you. cannot export uh old coins and antiques.

from India. >> Interesting. Okay. So, so and then came. the big problem which is the typical. China problem. >> This is like my is 500 pieces. and. so. and then I then I realized.

just to give it to the manufacturer coin. and. you know I was like. then I sold my car. I'll sell my car. and then I realized.

so then I again went to that same. friend. I need some money. So he was like. I'll give you don't worry but to start. and he was like a pillar in my life. He's still like a pillar in my life and. he filled that.

product. was outsourced. cases and then problem you asked me how. did you solve it. >> so I spoke to him I said yeah 500 I. cannot do it's a large quantity for me. >> so then we worked out a way he saides.

combination. >> Which was the first one? >> This was the first watch. This was the. first watch. You'll see my logo is also. different and uh which was changed later. and made better. Not a very fancy watch, basic quartz. watch, but with a coin and a sapphire. crystal. >> and stainless steel body. This is a 2013.

watch and still you can see it's you. know looking like. >> and this is a British British coin. >> This is a British India uh half silver. coin. This is a one rupee silver coin. which used to be half silver. So the. composition was half silver half copper. nickel. >> Interesting. So how did you get like 500. coins? What did you do? My sister's. father-in-law came to rescue. >> Amen. >> So he's my guru. He's my mentor. >> Collector should have a theme. This is.

>> So I went to him again. I said this is. what I've decided. He said. watch company and he was very happy. because you know why India world. coins collection. Ah, so you bought it from him or you. gave him some equity? >> No, no, no. I didn't give him equity. So, he procured it for me and uh we got. the coins. So, how did you cut a coin? >> So,

okay. So, this is the coin that you got. So, this is thick enough. So, you can. cut it. >> So, it's thick enough. You can cut it. But how do you cut it? How? >> That's the question. So, I went to an. engineering workshop near the bus stand. in Jaipur. head an exact thickness.

>> Exact thickness from the precision. because watches is about precision. You. can't be like. he actually did it. Nice. Nice. And he actually did it. And.

honestly. till date and I am his of course now the. biggest client. you know everyone was like. you know that is a big problem. he was the one. he was like. today must be very happy today very. happy.

just for cutting coins. Brilliant. Yeah. Nice. Imagine. >> Sweet. He's very happy right now. >> He's very happy. >> Okay. So, you cut the coins. But then. how did you send it to China? >> We didn't send it. >> then. >> We didn't send it because it's not. allowed to send. >> So, we said you send the watches to us, the cases, components, and we'll put it. here together. >> Okay. So, what all you will get from. there? Everything other than the coin. everything came from there in the first.

batch. Okay. So we started looking for. watch makers in the city and I went to. the old city of Jaipur. There are some. you know small small watch makers. sitting there for repairing watches and. all. So there was one uncle W sitting. and I went to him I said uncle this is. the work and you'll have to assemble. some you know 300 watches for me in the. beginning. >> Okay. >> And uh he said I'll do it. Um, and today. he's my head watch maker. >> Nice. >> The same guy. Today he's my head watch.

maker. He's making. >> The uncle who did. >> Yes. The uncle who did that. >> the first watch assembling. >> Yes. That same. >> first coin sticking not even assembling. >> No, it's full assembling only because. you know the watch comes in a open um. phase like this watch you see. So this. is open. All components are separate. You have to put the dial, you have to. put the coin on the dial. Mhm. >> Uh you know um this is the case which is. the body of the watch. This is the back. >> Uh these are the movements. There are.

hands. >> There are straps, bracelets. >> Everything comes. >> everything comes open you know and. that's how. >> different piece. Exactly. >> So this is what he would send from. there. >> This is the main mechanics. >> No he so these mechanics we imported. from Japan. >> because what would this guy from Hong. Kong do? He'll make this body that time. >> Now we don't get it made there but. >> this can get done in India also. Right. >> This is stainless steel and that's what. I told you in the beginning that.

>> no one works on stainless steel. No one. works on stainless steel in India. Now. people are working in India and we are. working with them also. But at that time. there was no one willing to work on. stainless steel. Everyone said we'll. work on brass. Okay. >> And I was very much against the usage of. brass because brass tarnishes, brass. breaks over a period of time. >> And how did you get this done? Like this. is a coin on coin there are numbers. >> No, this is actually a dial plane dial. Imagine this as a blank space and the.

coin has been stuck on it. >> Okay. So the outside is a dial. This one. is a coin. So this outside and. everything you would get it made just. the center piece you would put it in. >> Interesting. Okay. So this is how the. first lot came that uncle had that was. the first watch. >> Yeah, that was the first watch. And the. first watch came. >> we got it made also and after making the. watch after doing all the leg work I. realized where to sell this watch. That. was a time when Instagram was not there.

That was a time when you know uh D2C. websites concept never used to exist. where people would come on your website. and they'll buy especially a category. like watch. >> in 2013. Yeah. So first approach for any. businessman I'll go to multi-watch brand. retailers in India. >> like these ethos helios of the world. >> Yeah. Now ethos now but there are. smaller watch retailers also you know. every city has one big name like like. you know Indor will have someone.

>> who's who is it in Jaipur. >> Uh Jaipur now it's watch factory. >> Okay. >> Okay. So every few years you know. someone becomes big and it keeps on. changing. It's dynamic. >> So I went to almost every retailer in. North India. Every single retailer in. North India. >> Everyone said no to me. >> Everyone said no to me. I have phone. numbers for every retailer in my phone. of North India. I think I must have gone. to at least 24 25 retailers. One by one.

And I used to carry my briefcase, carry. the watches, set a time with them or. just walk inside the store with the. briefcase and show them okay sir we have. made this watch and will you please sell. it for us and the kind of a feedback I. got if anyone else would have got they. would have you know stopped the business. that day. >> What did you get? What feedback? Why did. they say no to. >> so they told me how can a Indian brand. be expensive? Because that time the.

largest Indian watch brand was selling. their product. Highest price for their. product was 15,000 rupees. >> My product I had priced at 23,000. rupees. >> Okay. >> So how can an Indian brand be expensive? >> What is there in this? >> The case costs this much. The hands cost. this much. The coin cost this much. This. is like you know they gave me they gave. me a breakup for my own watch. Why you pricing at 23,000? What is the. kind of celebrity endorsement you'll.

give us? >> What is the marketing budget you have. kept for your brand? >> Mhm. >> So these are all the words I heard from. everyone I met and everyone said no we. cannot sell a Indian watch brand at our. store. How can an Indian watch brand be. sitting next to a Swiss brand? So. distributors also had this like I know. that there is in usually postc colonial. areas especially especially country like. India and a lot of other countries. there's a thing called cultural cringe.

>> yes. >> that anything that comes from domestic. market or local made it's usually seen. as less valuable inferior it's cringey. to wear that because of the colonial. hangover. >> I'll tell you there is. >> from outside it's it's more valuable. Indian is not more not valuable. >> exactly the same mindset I faced and. >> but that's of people not of distributors. or business owners. >> It is for everyone. I think there's one. full generation which has this mindset. you know and I'm so proud of the.

upcoming generation. And I'm so proud of. your generation you know people like you. who have changed and who have broken. this myth. >> and that's why you see this booming. Indian watch market right now because of. it's because of the generation of people. like you who not themselves changed the. perception but they have convinced other. people also. >> fair but this was not there when you. started selling. >> no no it was nowhere close it was. nowhere close to that. >> today it has changed you feel. >> it has completely changed It has.

completely. >> Yeah. Like I don't see in our generation. especially when I look at my father's. generation they still have this little. hangover that whatever is coming from. the white world. >> imported products imported products are. better. >> imported products are better in fact we. give more value to heritage Indian brand. >> and the irony is irony is the first. product was actually imported. >> but it was being sold under an Indian. brand name. People came up with.

suggestions like why don't you rename it. to JWC to Vidishi sound it will sound. more you know for. >> like JLC. >> like IWC or JLC or you know that you why. don't you name it as JWC instead of. calling it Jaipur watch company who will. buy a jaipur watch company. >> you know so this is the kind of feedback. I got I was shattered I was beaten. >> what was the most humiliating moment of. your life. >> by humiliating moment was when he said. key is you know this is the breakup of. this watch and it will cost you more not.

more than 1,000 rupees. Why are you. selling it for 23,000? I could not even explain him the you. know the materials we have used in the. watch and everything. The way he. ridiculed the product. and you know the best part is life comes. full circle. >> Most of them are the same guys who are. now calling me to buy my watch. >> So you were here you were getting. ridiculed in the market. People were. humiliating you. Did you go through a. phase where you were insulted?

>> Not. >> Did anyone insult you? Made you feel. small and. >> Yes, it happened in my personal life. Not uh by the retailers, but it happened. a lot in my personal life. >> What. >> you said? I sold my car which was a BMW. From BMW, I came to i20. >> You know the lifestyle change in India. is a big thing that you know. something is wrong in his life that you. know probably from a BMW overnight he. has come to i20. Mhm. >> So that was how you know people started.

looking at me and I could see it in. their eyes. >> From a 50 lakh car you've come to five. lakh car. >> Yeah. So I could see it in their eyes. that you know something is wrong. People. would ask me what are you doing. nowadays? >> That's a very humiliating question that. what are you doing nowadays because you. have done so many businesses. So what. are you doing nowadays? >> That's their way to ask. Hm. >> So, >> so what used to hurt a lot like that. people used to. taunt you or make fun of you or you were.

only getting embarrassed because you. could see. >> I was getting embarrassed and I could. you know uh you can make out that people. are talking bad behind your back. >> You can make out you can sense it when. you meet the person that he's going to. talk about you behind your back. >> Right. So I could sense that it was. happening not just uh friends even. relatives everywhere it was happening. >> and. you know to make things worse the. business was not picking up even after.

putting in one full year we had the. products ready no one was willing to buy. I was traveling here and there trying to. meet convince people but no one was. ready to take my products at all so that. time you know Facebook was beautiful uh. Facebook used to exist exist and. Facebook. So. I thought let's try this. Yeah, this is. new. So let's try this Facebook boost.

So I tried and. you didn't need a business manager and. just press the boost. just press the. boost set the audience set the city and. >> so. we did that and uh first city I chose. was Delhi. >> I said okay let's try Delhi being the. capital let's try that and I did a boost. which 900 rupees something I put in it. and uh boosted it in Delhi.

next day I get a call from someone. because the only phone number there was. my mobile number so if you someone will. browse down all my old post they'll. actually find my mobile number. >> Okay. >> So, >> or they can ask AI to just write down. right now and AI to do the job. >> Yeah. >> So, he called me uh someone called me. from Delhi. He said, "My name is Manish. and I just saw your ad on Facebook and I. really like your watches. So, how much is it priced at?" I said, "23,000." He said, "Okay, send me two.

I'm depositing money in your bank. account.". >> Just in one day with 900 rupees. >> 900 rupees. And I got a sale of 46,000. rupees that day. >> Wow. >> And I was like, boss, this is magic. >> I found my way. >> Yeah, >> absolutely. >> This was your 2013. >> 2013. I was like, I found my way. >> And this is it. We're going to do this. now. >> Because uh then next day I thought today. we'll boost in Mumbai.

>> I was the king of the world. >> Yeah. Yeah. I decide where I get my. watches. Yeah. Okay. >> Then I boosted in Bombay and then u. >> one gentleman saw there his name was. Vive Gupta. >> very dear friend of mine and uh he saw. it and he called me he said uh I've seen. your products they are beautiful. >> and I have a big retail store in Bombay. we sell fantastic Indian art Indian. jewelry and uh you know luxury of India. >> in its own beautiful way. He was also.

way ahead of its time. He had opened a. big store in Pali Hill by the name of. the big door. >> Okay. >> Almost a 15 18,000 ft² store. >> So he said I want you to sell here. >> You know I think you can make good sale. here. >> This was a luxury art store. >> Yes. Luxury art store. And. >> not like a watch retailer. >> Not like a he had jewelry also. He had. silver beds. He had paintings. He had. you know crazy kind of Indian stuff. Very beautiful store. He said why don't. you come and sell here. I said okay Viv.

whenever I'll come to Bombay I'll meet. you and we'll discuss. He said no no you. don't know how to do business it's not. done like this I'm coming to Japur. tomorrow. >> and he actually came next day to Japur. with his wife. >> and he saw the product and everything he. said okay I'll keep it in my store we'll. sell it and uh I'll take uh 40%. commission from you and whatever is sold. and I'll keep this. So I said bi you can. keep it in the store but how will it. sell automatically because I don't have.

any support for marketing. >> He said you don't worry you leave it on. me. >> I said okay. Few days later he tells me. that you know 19th April we are doing a. launch of Japur watch company in big. door. >> You come to Bombay. >> He said okay what is the launch? >> I didn't know anything. It was him. deciding everything. >> Okay. >> He said you come you don't worry. I'll. I'll manage everything. You just come. and be there. >> We're doing a launch. >> I see a ad in Bombay Times introducing.

Jaipur watch company. >> Nice. >> The ad given by Vive Gupta at his cost. >> Nice. >> For the first time in my life, I saw. celebrities inside a watch store like. real Bollywood celebrities walking. inside a store. My first sale happened. that day. Dr. Jamnap, you know Dr. the most iconic uh you. know skin doctor the country. cosmetologist the country has. >> my first sale happened there Dr.

Jumnapai was my first client. >> nice. >> and I was like bos something is. happening for real in my life for the. first time. >> I saw cameras for the first time he made. me a star for that 2-day period. I was facing cameras I was giving. interviews I was doing everything and. was standing p just watching me and I. don't know I think he was sent by the. god to help me. >> wow and no connection this random just.

random guy on Facebook. >> How sweet. >> Yeah, >> man. We need people like Vive in the. world. Thanks Vive. Thank you so much. for doing this for people. This is so. good. >> This is incredible. Okay. And then what. happened next? How many watches did you? >> So then we started selling like 8 10. watches a month from his store and. things started happening but obviously. it's very slow. It's very low number you. know are the watches. It's very low as a. number when you see two days how many.

watches did you sell. >> in those two days alone we sold more. than 10 12 watches. >> Okay. >> So that was a good uh happy start for me. that you know okay we made the biggest. sale of our life. >> Yeah. From zero to like six a day. >> Yeah. So we were very happy and uh Vive. was doing his job. He was promoting. He. kept us on the ground floor of his store. in the front counter. As soon as you. enter you will see my watch. >> So that kind of thing he gave. I had no. staff also. Vive staff was there. So. everything was Vive. >> Okay. Okay. And uh I went back to.

Jaipur, left the watches there and he. was slowly selling and paying me on time. and everything was happening and then I. realized this things won't work this way. and I really need to do something. because I cannot live like this. I was. married by that time. >> I hardly had any money in my you know um. personal bank accounts. >> Everything was in Japur watch company. I. was left with zero. Literally zero. There was a time you know when I was uh. running the company I had a team of.

three people. >> and uh Vive was my only sales point and. Facebook was my other. >> sales point. >> and I had to pay salaries to people next. day I was left with 33 rupees in my. current account. >> I was like what will happen and luckily. you know a sale happened that night. someone bought two watches again and he. paid me and I could pay salaries the. next day. uh I was going you know. dum dot to dot I was moving I had no. money like I would earn something I'll.

have to pay salaries I'll have to pay. career fees whatever so I had nothing in. my only asset I had was those 500. watches. >> which were not selling. >> it was a dead asset actually. >> which was not selling so all my money. was there. >> so at that point it was probably a dead. asset not even like it was liability. more than an asset. >> and then everything was going very slow. and then uh I met someone at the launch. event of Vive uh he was a PR consultant. >> so his name is Warren so I met Warren.

Warren told me you know I think you. should try selling at more points and I. said I've tried everything in India and. everyone has said no to me so he said no. no why don't you approach the five-star. hotels so why don't you go to Taj they. have a shop called Khadana why don't you. go to Obro has a shop called Tiji okay. >> so they will appreciate because they. they sell fantastic Indian products from. their stores for you know and luxurious. Indian products from their stores. So. >> I said okay help me set up a meeting. He.

found the contact person in Taj. We went. there did a meeting. >> He loved the watches and he was like. these are fantastic. They yeah they. should be in all the Taj. >> He gave me 11 Taj hotels. >> You name the Taj and I was there. Be it. Falakum Palace, be it you know any. top-notch you can even imagine. watches were selling through those hotel. stores. >> And how many orders they take?

>> So it was not an order. It was like you. keep the watches they'll sell. We'll pay. you consignment. >> So but that was good enough for me. You. know a watch lying in my Almir better. lie in a Taj Almir. >> a visible almir. >> Exactly. So then I gained confidence. I. was like okay now let's approach Ooy. also. So I went to Ubery and I went. >> keeps her watches. You should also keep. the watches and they said yes. I was. surprised. So I got all the vas.

and every property of also top-notch. properties and I was like. in a month and. I was like. and I had actually come to a point where. I decided yeah I'll cannot continue this. will not work for me except Co. I think. I'm a failure and you know I should just.

>> pack my bags. >> Pack my bags. I called up a friend in. Dubai. He was still in insurance. I said. boss get me back. >> I cannot do it in India. I think I. failed and I put my family's life on. risk, family's future on risk and uh I. don't think I should be doing it. >> He told me he said yeah try for one more. year. If it doesn't work then you come. I'll help you but try don't give up so. early. It's just 3 years and you know. >> 3 years you were doing this how were you.

sustaining actually where were you. getting money from the only. >> mom and dad. >> only thing no I was not taking money. from them but. and dad knew my condition. and that was it. and that's how I was managing honestly. >> what was the difficult most difficult. part of that time. >> everything every day was difficult for. for me you know for. years together you know I would just go.

to office and do nothing and come back. because I had no money to even make new. collections. what do you feel when you're going. through certain phase like that. I feel you know if something keeps you. alive for me it was like the love for. watches that you know India should have. a nice watch brand India should have a. brand which talks about stories of India. and I think that kept me ticking that. someday something magical will happen.

Every day I used to pray that you know. probably. that was one hope I used to keep and you. know uh try myself uh to not think very. negative. But what at any point did you. feel like a loser? >> Every day. Every day. In your own eyes or in your. wife's eyes or in your family's eyes? >> In my own eyes. My family didn't make me.

feel uncomfortable. They would My wife. never asked for money and I don't know. how she also managed. I have to ask her how she managed all. these years. >> What was the breaking point for you? >> The breaking point for me was that uh I. couldn't recharge her mobile phone that. day. Then I had to ask my mom please. phone and that was like I'm done. And. then I called my friend I said yeah get. me a job. >> So Facebook was not working retail was. not working Taj hotel or hotel was not.

working friends did whoever bought it. whoever told you you should do this is. not working. >> Okay so now the next collection started. >> Next collection started and this was the. time when for the first time all the. feedback which I gathered for years from. people because I was the salesman. I. used to interact with all the clients. myself. >> and all the feedback which I gathered I. put in one design and then we launched. the king's wrist to the second watch. >> and that watch uh did better than this.

watch. >> Okay. >> We started getting some money and uh for. the first time I think we touched a. turnover of 50 lakh rupees in 2017. Majak. >> not bad. >> Yeah, >> not bad. This is good. >> from not being able to recharge your. wife's phone to 50 lakh rupees. >> This is all online. >> All online and these whatever stores we. had. >> Okay. >> So, >> where were you selling the most? U I. think Vive store still was doing the. best for us as compared to any offline.

stores we had all the hotels then. >> not even digital was working as. >> not even digital because people not used. people were not knowing me only you know. that there's a watch brand how can you. go and buy you'll be scammed most likely. this is the thought process in India. that this is an unknown watch brand. selling for 35,000 rupees why will I go. and buy I'll probably get scammed and. get nothing. >> okay. >> so. It's because there was no marketing you. know to there used to be media coverages.

about Japur's company when. some journalists were nice enough they. would write stories about Japur's. company and probably that was my only. marketing so it used to be like media. coverage and next week. you know it was like. >> it was that. Okay. So. then you know things continued like this.

honestly for the longest period of time. or. they would have broken down and uh. >> but you kept going on. >> but I kept going on and something just. kept me you know kicking I don't know. what. >> what was the changing what was the. pivoting moment for you like from here. things just changed. >> pivoting moment came very late in my. life you know pivoting moment came when. I went on Shark Tank. And uh. >> which year was that? >> 2022. >> Okay. >> I went on Shark Tank.

>> So I get a call. I was sitting in Delhi. with the same guy Manish. I was sitting. with him and I get a call that u have. you applied for Shark Tank season 2. >> I said no I've not applied because we. don't have numbers and uh I don't think. we. >> What were you doing in 2022? >> Same. I was just doing watches only. That's. >> No. No. But what numbers? uh we had done. 1 cr rupees in 2022. >> 1 cr a year okay. >> 1 cr. so that's not a very large number but we.

had achieved our first 1 cr rupees. >> nice. >> so I get a call from shaktang India that. why don't you apply and tomorrow is the. last day and we would like you to apply. >> so I said okay let's try I applied. cleared the first round which is a. online form uh cleared the second round. which is like a audition which happens. in Delhi or Bombay or wherever you are. and uh then finally you are on the TV. >> So I went on the sets of Shark Tank.

India and uh first time in my life I was. aired on TV. People noticed me but at. the same time it was a national. rejection for me. >> Okay. >> I was rejected by the sharks that you. know this business is not worthy of. investment. >> Why? >> Uh because you don't have stores, you. don't have sales. after 9 years of. business also you have done only 1 cr. rupees so it's you know unbelievable. that you know how can one do only 1 cr. rupees in so many years of working and.

uh watches is not a category in India. but one good thing came out of Shark. Tank was every single shark appreciated. my products they were like it's a very. good quality product it's fantastic it's. very nice. >> but no one invested. >> okay it happened people uh noticed me. for the first time. Sales started. increasing. We started getting you know. 50,000 visitors came on the website. overnight.

All of a sudden there we had 50,000. visitors overnight. We had. >> orders coming D2C. >> I was like okay this is going good. >> Then um we got an opportunity to open. our first store in 2022 at select city. walk. So which is the best mall of India. as per me and we got a ground floor at. select city walk. So we opened our first. store there. >> because we were getting all these sales. due to Shark Tank India. We had the. money to open a store finally. >> Okay. How much say how much in sales.

value you got from? >> So I think uh that from 1 cr we jumped. to 4 cr rupees for Shark Tank. >> That's amazing. >> Yeah. So that was a 4x jump for me. >> That's incredible then. >> Yes. >> Yeah. So you're you're one of the lucky. ones who got great results. By the way, not everybody gets. >> I'll tell you I'll tell you what. happened. I think we played smart here. >> That time Shark Tank India was kind. enough. They would allow people to use. their clips for promotion. Now I don't. think they allow. >> Oh.

>> So we picked those parts where we were. praised. >> And. >> you ran ads on that. >> We ran. >> Nice. Good stuff. >> That changed the. >> Today that would be illegal to do. Literally that is illegal and they ban. your page. >> Yeah. Yeah. Yeah. >> Your account would get banned now. >> Now Shark see that time Shark Tank was. new. >> and they wanted people to know more. about Shark Tank. >> So probably that's why they allowed and. uh it worked in our favor and uh we ran.

the same ad for one year. >> No, I'm talking so this was not a So. that 4 crores was not a Shark Tank. effect. It was an advertisement. Clever. advertising. I'm talking about right. after episode airing, how much sales did. you. >> exactly? Right after episode airing, I. think we made a sale of good uh four. five lakh rupees that day. >> That's it. Not like a lot. You were. smart enough to actually capitalize. that. >> We capitalized that failure. >> and we made it into look like a success.

>> Fair. See that's the smart part, right? So Shark Tank gave you five lakh rupee. sales. >> That was your budget value for. advertisement. That was your actual. >> that was a budget for advertising. >> and those five lakh you used it on their. ads only. >> Exactly. >> Which is illegal to do today. But great. worked out in your favor. 4 crores. That. gave you money to open a store in select. city walk. >> Then. >> then I realized offline stores is the. way to go. >> because select city walk did wonders for.

us. M. >> all of a sudden overnight first month we. did a sale of 20 lakh rupees at city. >> which was unheard of for me in my. lifetime. >> Yeah. >> And then I realized this is the way to. go. >> offline. >> Offline. Then I opened more stores. We. opened a store in Ahmedabad. We opened a store in Pune. >> So we opened like four stores back to. back and uh things started doing well. for us. From 4 K we reached a point of. 10 cr rupees.

>> Nice. because of the stores. >> and then I realized one thing that. opening a store is a very expensive. thing. >> You have to invest upfront. >> Yeah, capex is very heavy. >> Capex is very high. Security deposits. are insane. They charge you 6 months of. rent for security deposit. >> Lockins are big. >> Lockins are big and they don't give you. space also on ground floors. >> The same mindset what we were talking. about in the beginning. This also exists. in India. >> in retail.

Indian brands can't be on the ground. floor. We'll give you first floor or. second floor. >> Why Indians Indian brands can't be on. the ground floor? >> The same mindset we are talking about. and it's the same generation of people. who were running malls that time. >> So they they feel like it it'll decrease. the value of their mall if they keep it. >> and it still exists in some of the. malls. I've experienced it personally. >> even today. Even today, right now I have. 19 stores across India and still some. malls say that you have not proved.

yourself. >> and you're an Indian brand. >> Yeah. >> But why do you want a ground floor. versus first floor? What's the. difference? >> There's a lot of difference. You know, dynamics are completely different on. when you're on ground floor when you're. on first floor. >> Give me rent comparison. >> Rent comparison I think 4x. >> Okay. >> From first floor to ground floor. >> Okay. Okay. So if you get it on ground. floor, let's say it'll be 4 lakh rupees. on top it will be 1 lakh r. The grand m. example. >> 70% of the footfall never goes beyond. the ground floor.

So what you're left with is 30% for the. other flows. >> Unless there is a very strong brand pool. and people come looking for you. But. when you're targeting the walk-ins. inside the mall then the only place you. need to be there is the ground. >> Ground floor. >> Yeah. >> Okay. So it makes sense. >> Yeah. >> It makes complete sense. But then if. every brand wants ground floor they are. not ready to give you know. >> see the categories are there you know so. watches is something which is premium. which is expensive so they need to be on. the ground floor. >> okay. >> whereas if my ticket size probably would.

have been a,000 or 2,000 rupees. >> then then I don't need to be on the. ground floor I can be on the first or. second floor to survive. >> m. >> okay so then this happened and then all. of these things are actually making your. brand better tell me what's the brand. story why do all of this like What's. what makes your watch expensive? Why. this coin? Why stamp? >> Okay. Now, when you talk about watches, >> why should I wear it? >> Yeah. So, first I'll tell you uh why we.

made Jaipur Watch Company as a brand and. why we follow a particular design DNA. You'll see very similar watches, you. know, very uh Indianized watches here. Why we did that? I felt there is a gap that Indian. stories are so strong that they should. be narrated through watches. >> India is probably one of the only few. countries in the world who have. documented history. >> through our Vedas, through our piranhas,

through our punchantra, whatever you say. you know we have documented histories. Raja Ravi were paintings were there you. know that history has carried forward. from one generation to another. generation and probably the medium might. have changed but that has carried. forwarded. >> you're big on Raja Ravi Bhma right. >> I'm huge on Rajar Ravi Bhma you know. because. >> why explain if someone's watching this. for the first time and they don't know. who Rajar Ravi. >> I'll tell you the same thing happened. with me same thing happened with me I. was sitting with some of my rich friends.

>> and someone brought the topic of famous. artists and famous paintings And then me. being me, I asked do you know Rajar. Ravi? He said I've heard but who is he. Raja Ravi or I said there is a painting. in your house or there is a photo of God. in your temple in your house. photo who has made that photograph. that was raja. >> every god. >> every god the humanized version of the. god what we see that there is a.

particular image when you imagine. Lakshmi mata that she's sitting on a. lotus and ganesh and saraswati mata that. you know she's in a white sari and. >> who gave that someone must have done. that. >> that was one person raja. The person who gave God an image. >> Yes. Because earlier. >> almost all gods. >> all gods because the earlier before Raja. phase gods were only in temples in stone.

mortis. They had no human touch, no human face. >> Who brought the stories of you know. Mahabharat onto paintings? Raja Ravi. he was the first I'll say the most. dynamic startup entrepreneur of India. he started Raja Rau printing press. >> so that because his paintings were.

expensive. not everyone can buy painting because. one paintings will take a lot of time to. be made. >> he started rajaro printing press where. he would use the technique of lithograph. and he would put uh you know the. paintings into printed versions. a people use on Diwali they stick it on. the walls and you know so that practice. started because of Raja Rayma's printing. press. >> nice. >> so you and what do you do with him like.

you have. >> we did a collection of Raja Raviora. >> paintings. >> paintings. and some of. >> all gods. all the paintings which He. >> we picked like 15 of his paintings and. we made uh I think uh 50 watches each. >> Nice. >> Yeah. >> And these were licensed. We did a. collaboration where we had permission.

from Rama who's living descendant of. Rajar Ravi Gi still lives in Kilimanur. Palace where Rajar Ravi used to stay and. all watches were signed by him. personally. >> Nice. >> Yeah. But why? So what's the story? What. do why do you want this history? The. these stamp. >> people know you know my point is what. when was the last time you used a. postage stamp to post something? When. did you go to letter box? Probably not in your lifetime.

>> Yeah, >> I don't know. Yeah. >> Yeah. You don't know the process also. probably. >> And this entire generation probably. doesn't know that. And this is the greatest system. developed by mankind to communicate. So I have a watch here which is made. using penny black. >> This penny black stamp you see. >> is the first post stamp issued by. mankind. >> It was issued in the year 1840.

>> and that's how commercial postage. started happening. Prior to that it was. a two pay thing. >> that I'll send you a letter or whatever. >> and if you receive it if you are at home. that time you have to pay for it. >> Yeah. >> So they came up with the idea of using. poster stamp where it's prepaid through. a denomination which is put on a stamp. you stick it. >> the cost is decided and you stick as. many number of stamps whatever is the. cost and the letter goes. >> Interesting.

>> coinage. We had beautiful coinage. You. know, I being a coin collector, you know. how I made my first watch. I realized we. used to have beautiful coinage, you. know. Have you seen a coin like this. which has a hole? >> No. >> Have you seen a coin like this which has. like 12 sides? >> 12. Okay. >> 12 facets. >> This was 1947. >> Yeah. >> So this is at the time of independence. >> This was the last coin operation. Yeah.

And this logo, if you'll see very. closely, this walking tiger is also the. inspiration behind the make in India. logo. >> Yeah. Yeah. Yeah. How did. how did you get PM Modi to wear your. watch? You got the biggest influencer in. the country to wear your watch. That was. biggest influence marketing. >> If someone asks me what are the two. moments of your life? M. >> uh one is 2017 when my children were. born.

>> Mhm. >> And uh I have twins by the way, boy and. girl. So that was a very significant. moment of my life. >> And uh second was uh December of 2025. when we found out Modi is wearing our. watch. I had the opportunity to meet. Modi in 2020 uh 2019. I met him and uh I met him in person and. we met met at the parliament. I showed. him my watches. I showed him that you.

know we are doing something in make in. India initiative which you have started. >> It was just the beginning of his I think. second tenure that time. >> Uh so. he really appreciated the products and. uh a lot of people misjudged the fact. that I gifted him the watch. >> Okay. A lot of people because I met him, there is a photograph of me and him. together. So, a lot of people misjudge. the fact that I gifted him the watch and. he's wearing that watch. >> It's not the case. I met him in 19. The watch which he's.

wearing today is this watch which is. called the B watch. >> This was launched in the year 2022. >> Is the same watch that you're wearing? >> Yeah. This is another variant. So in 2022 we launched this collection. on 15th August 2022 to mark 75 years of. independence of India. >> We named it the B. >> because it's got the walking tiger on. the face of the watch. >> M. >> and this became our best seller till. date from 2022 to till date it is our.

bestseller watch. >> Okay. >> Now 2025 November. >> how much is it for? >> Uh this is 60,000 rupees. >> Okay. So 2025 November onwards Modi Gi. started our wearing our watch. >> December I get a call from a friend on a. Sunday he says I have a feeling that you. know this reel I just sent you which has. PM Modi in it he's wearing your watch. >> I said no way.

>> he said I think it is your watch you. please check. >> I immediately opened my laptop I went to. the PM India website where they upload. his gallery official gallery. So I went there. I started browsing all. the way back till November. Like they. upload almost daily. >> So I went day by day, day by day I back. went back till November. >> One image came where I saw my logo. >> So Modi wears the watch like this. >> So you can't see the face of the watch.

easily. >> Okay. >> Okay. So one image came where this logo. which is here on the clasp. >> that was visible. M. >> and my watch has very distinctive lugs. you know this this pattern is very. distinctive on the side of the watch. I. could see that I could see this like. this is my watch. I know that this is. for sure and this is the bug watch. M. >> but which version which variant of bug I. cannot make out. >> until next few months I kept following. his image every day every day you know.

that is like my if you see my browser. that's like my second tab after Shopify. one day image came where he was in a. rally and his hand was like this. >> w you could see the watch clearly. >> I could see the watch clearly and then. things changed for us overnight very. thankful to him to choose Indian product. and. >> but he bought it. >> No idea. >> You don't even know how. >> I don't even know how it reached to him. >> He never bought it from you. You never.

gifted it. You don't know who gifted it. to him. You don't know who bought it. from their team. >> Yeah. >> I have no idea how it reached. >> Nice. >> I wrote letters. I'm sure. >> that's power of brand. >> I still don't know how it happened, where it happened, which store it. happened, online, offline. No idea. I. spoke to a friend who does celebrity. watch sporting pages on Instagram and I. shared it with him. I said boss this is. what has happened. >> Yeah. >> He said don't tell anyone. I'll post it. first.

>> I said okay. He posted. within I think few hours it reached some. million views and next day onwards every. Instagram page was posting the same. thing. The watch that PM we. >> The watch that PM Modi wears. The watch. that PM Modi wears. Third day I had TV. media guys standing in my office in. queue like my office conference room. We. had like 15 people with cameras and.

media guys sitting waiting for me to get. over with one interview so that the. second can come. >> that how did you actually send a watch. to him? >> Yeah. M. >> and how do you feel and you know media. questions and. >> back to back I was full day giving. camera interviews. >> How much like what were the numbers in. sales? >> Sales went out of the roof. You can't. even imagine. >> Do you have enough watches or it went. out. >> that time? Luckily we had uh a fresh. stock of thousand voices which had just.

come in. I mean the god is when god is. kind. >> Within one week we sold 1,000 watches. All same 60,000 of you watch. >> 1,000 watches. >> Nice. >> Within one week and right now till this. date as we speak we have 1,500 plus. people in wait list for this one watch. >> It's still it's sold out. >> It's still sold out. It's we've never. been able to you know fulfill the demand. after that. So the trajectory for. business completely changed after that.

So we did 4 crores, we did 10 crores, we. did 25 crores because of this uh we were. on track of doing 18 crores or. something. Then all of a sudden this. extra 7 cr pumped in because of. >> this one watch because December to March. >> all organic. So no. >> all organic no marketing cost. huge pat. >> wow. >> huge pat because this was all organic. >> and it's a 60,000 war. So you're making. good money on this. So then things.

change drastically for us and now we are. on track of doing like 75 to 80 cr rupes. this financial year. >> How do you make a watch? >> So. there's a process. Uh first is the. thought process behind the watch. >> that what is the idea you want to work. upon? What is the theme you want to work. upon? Not necessarily coins. Sometimes. it's beyond coins like. >> I showed you the Rajasthan Polo watch. I. showed you the Raja reviewer watch. So. they are beyond coins somewhates and uh.

>> the first thing is the idea what comes. to your mind. >> 70% of the time probably I'm blessed I. can see the watch in my mind before it's. made. >> I know how it's going to look like I get. that image in my mind. >> okay. >> I then go to my designers I sit with. them. >> I try to explain them that you know this. is the thought now we have to make a.

watch like this it should look like this. it should have these features then it is. converted into a handdrawn sketch. >> but why handdrawn in today's technology. >> no they do on tablets also. >> okay. >> they do sketching on tablets also but. it's again hand sketched. >> okay. >> be it a digital sketch but it's hand. sketched. >> why. >> I think these guys are you know more. comfortable doing it um that ways rather. than you know because they need a canvas. to start with on the screen. So they.

start from the hand. >> Okay. >> Then they draw it. They come up with. basic designs like something like this. This is the bag watch. >> So this was the first iteration of bag. watch. Like the case should have ridges. on the side. >> The watch that PM wore. >> Yeah. So the case should have ridges on. the side. >> And it doesn't look like this. You know, if you'll see the. >> body from here, >> it's not actually like this. It's. similar to this. Okay, >> that's how it started at the first. iteration.

>> Then the second iteration was the. detailing inside the dials. >> like how the coin will come, what will. be the numerals around it, how the. numerals will look like. >> Okay. >> Okay. Because this coin is a very. interesting coin. This has a one rupee. coin. This has a half rupee coin and. there is a quarter rupee coin. I'll show. you. All three coins are same but are. different sizes. This is a one rupee. This is a half rupee and I think we have.

a small one. Yeah, this is a quarter. rupee. >> thickness. >> This is a family of coins. >> Okay. >> All three same designs and three. different denominations and three. different sizes. >> Is it difficult to cut this one? Because. it's like much. >> you don't cut small coins. You put them. as it is. >> So only this one you can. >> only this one. This one also we cut. >> Okay. >> Yeah. >> H. So then this made this got made and. then this got then this goes to this. >> What's this?

>> This is a 3D printing like a normal home. 3D printer you guys have. >> Okay. >> So we have slightly better than home. printers. So. >> uh we do 3D printing of the case first. >> Okay. Then this comes then. >> then this comes out. Then we know what. is the. >> uh you know look and feel of the. product. Then goes the technical. detailing of the watch. where we know what is the thickness. because we have to consider elements. like the watch movement. Here what you.

see is a Japanese citizen movement. >> Okay. >> This comes from Japan. >> Okay. >> Uh you have to consider elements like a. dial. which is this brass plate from the back. you see. >> M okay. Then you have to consider the. thickness of the coin. >> because the coin has to sit down inside. the dial or it has to come up from the. dial depending on the thickness. >> Then all the positions have to match. because. >> it will go like something like this.

>> Yeah, it will go something like this. And this crown position. >> Mhm. >> has to match the movement crown. position. So you have to give hole at. that place. If you'll see there's a. crown on the side where you set the. time. So you would. so it'll be like this. >> Yeah. It gets uh So there are two legs. on the dial and there are two spaces to. keep those legs on the movement.

>> Where can I see it? >> Put this. >> Yeah. You see this hole here? >> H Mhm. >> One leg will go here. >> Yeah. >> One leg will go here. >> Okay. And so this will go inside. So. this goes inside this. Then this sits. inside the case. >> Okay. This. And then. this stem is removed before it goes. inside the case. Aa. >> So this stem is removed first.

This stem is pulled out. Then this goes inside the case. And this. stem is reattached. >> from the outside. >> From the outside. >> Got it. So then this and and then you. put this. >> then you put the case back. >> Then you put the hands. >> Yeah. Then you put the hands and in the. end you put the case back and the strap. That's why the. >> What's the most difficult part in this? Why people call that watch making is. complicated.

>> I got something for you. >> This will just go here. >> Yeah, that's all. >> So this looks very easy. >> The main thing is this. >> What's this? So what goes inside this moment? >> This small little moment. >> is this. >> this all these things one. >> 7 185. >> depending on the complication but. roughly 170 to 200 components go inside.

this. >> in just this. >> Yes. And this is why people say Swiss. precision, Swiss engineering, Swiss. movements. This is why the complexity of a watch is. known for. This is why watches are. expensive. This is why mechanical. watches are more expensive than. >> 170 or 200 parts fit in this exactly in. the right manner. >> Yeah. >> There's not an easy way to make a watch. >> You can make a quartz watch. There's.

very few components. >> Okay. Uh there's a quartz uh stone which. oscillates with the power of battery. That's it. >> That's easy. How many components go in. there? >> Probably less than 20. >> Oh, this one's a mechanical watch. >> Yeah. >> And what's the difference between a. mechanical and quartz? Like in. >> so quartz is powered by battery where a. battery oscillates the stone which gives. enough power for the hands to move. >> Okay.

Whereas mechanical is self powered. This. is automatic watch. So there are two. ways in mechanical. One is called hand. winding mechanical watch where you tune. it. It saves the power. >> and uh it releases the power slowly and. the power drains out and you have to. wind it again. >> Like I have to keep winding this again. >> Exactly. >> So because it's a hand winding watch. >> Okay. Then when you add a small part. like this which is called the rotor. >> this was an innovation.

>> So this rotor what it does is it does. the winding for you. >> So when you move your hand it will move. and it will do the winding for you. >> So that's why most of the watches when. they have just kept idle on the in a box. they just stop. >> They stop. But that also depends on the. complication. So we have recently. launched a watch which is a 60 hour. power reserve watch. >> So it will last for 60 hours. >> This watch bag watch has a 42-hour power.

reserve. So it will last for 42 hours. even after you stop wearing the watch. >> Okay. And if you're wearing it then it. become. >> then it will continue to work because a. mechanical watch has so many parts. There are issues also with mechanical. watches which require servicing. >> What is that? So you know with age you. know there is wear and tear there are so. many gears there are so many components. so there is wear and tear in the parts. with age. >> or if there is a you know accident. impact fall so then balances shift and.

then you have to rearrange everything. >> and then how long does that take? So. depending on again the complexity of the. movement what you have it's a if it's a. basic movement uh and if it's a skilled. watch maker probably in a day plus one. day of testing you can get the watch. back and if it's a high-end complicated. movement with a toio or some other. complications then you might take a lot. of time and or you might have to end up.

paying a lot of money. >> But are there watches where. like the watch never stops? No, the max. >> automatically just it just keeps. working. >> That's the only way is quartz where till. the time the battery lasts the watch. will last. >> No, forget quartz. I'm talking about. mechanical. >> Mechanical the maximum they have done so. far which is a huge accomplishment is a. 60-day kind of a power is of but not. more than that. >> but automatically forever because of.

some magnetic. uh vibration frequency. >> They are not very friendly. Watches are. not very friendly towards magnets. So. that is a. >> point of concern. >> for any watch maker that keeping magnets. is not a good thing. >> and uh the only way to increase the. power is the coils the hair spring what. you see here. Okay. >> Okay. So the more you can wind it the. more power it can store inside it the. more it will release.

>> and you cannot have bigger hair springs. beyond a particular size you see the. watch movement size. Interesting. And. what's the difference between. Swiss watches versus rest of the world? Why Swiss watches are the best, the most. expensive? >> Okay. So, there are two things. One is. the truth and one is the lie. >> Okay. >> Okay. >> Tell me both. >> Start with the truth and then tell me. lie. >> Okay. The truth is that uh they.

pioneered watchmaking. M. >> they started watchmaking. >> and they're the masters of watchmaking. because they invented mechanical. movements. >> They you know this small movement what. you see was invented by them. They. invented all these components and made a. watch work. >> So that is the truth. They invented lot. of complications. That is the truth. The false part is the marketing the. storytelling around it. M.

>> what do they do? >> So they're very good marketers. No doubt. about it. Like I mentioned in the. beginning that the whole country. supports the you know ambition of. claiming that we are the best watch. makers in the world which no doubt they. are the oldest watch makers in the world. but uh probably they have some of the. best watches also in the world but uh. cannot say that Swiss watches are. superior than Japanese watches or Swiss. watches are superior than German. watches. I cannot say that. and Indian.

watches. >> Indian watches still don't have their. own watch movements. We are still using a heart of Japan or. heart of Switzerland. Till the time we are not able to make. our own movements. I don't think we. should uh claim that Indian Indian. watches. >> we'll be able to make our own movements. very soon. And I can tell you that thing. because you know as a industry you'll. see Titan is probably 30 years old. Um.

we are 13 years old. Okay. When you see. age wise human age wise we are young. You know 13 years is nothing. >> 30 years is beginning of a career. So. Titan just launched a movement in house. first time. We are very proud of that. >> and we are just 13. >> Give us a couple of years. You'll. probably meet me again where I'll be. introducing my own movement. >> Interesting. So the reason why Swiss.

watches are superior. >> in against German, Japan is a. storytelling only. >> No, somewhere they're good also with the. movements. Like I said, they have some. innovations, >> but are they better than Japan? Are they. better than Germany? When you talk about. basic movements like a normal threehand. movement, if I have to compare it with a. say a Miota 9015, which is a basic. three-hand movement, and I have to. compare it with a ETA 2824, which is a. Swiss threehand movement, or a Swiss.

SW200, which is a Swiss three-hand. movement. Now, let's start comparing. these three movements. They cost almost uh six times more. >> than a Japanese moment. Okay. Their. availability is a big issue. >> They don't supply to outside brands. It's very difficult to get uh Swiss. movements. >> Now talk about the reliability. Talk. about the repairability. Indians that you know we need something.

which can be repaired. >> Yeah. >> Yeah. >> Because we need things for lifetime. I. feel Japanese movements have done better. in that when you talk about a country. like India. >> because Japan was the only country. citizen especially they collaborated. with HMT. >> back in the 60s you know and when they. collaborated with HMT HMT could make. their own movement based on the drawings. supplied by citizen. >> okay. >> okay they know Indian conditions they. know our weather they know our usage and.

that's why I prefer Japanese moments. more than Even though I recently. launched the Swiss movement watch but if. you ask me what is the composition of. Japur watch company's collection 80% is. Japanese automatic movements. >> and the reason is because they can. repair faster. >> they can repair faster they're reliable. and they are workh horses. So you're. telling me all of these components. So. let's say in your one watch like this. one watch which is truly Indian watch. which you say right it has more than 170.

to 200 components. No component are Indians. >> No of course now things have changed. >> Okay. >> Like the case what you see is Indian. The dial what you see is Indian. The. coin what you see is Indian. >> No no no. This it has 170 things. No. >> 170 components in this little thing. which is the actual heart of. >> watch. >> No they are they are we take it from the. experts from Japan because in India no. one is making the movements. It's.

altogether a different industry and it. requires a lot of quantity you know if. you don't have quantities you'll not be. able to support the costing of the. movement. >> Is it a dying industry because of. digital? >> No it's not at all. >> No. >> not at all. You know if you would have. asked me 3 years back I would have said. yes. >> it's back right like the. >> it's bounced back like anything you know. and fitness devices caused a you know. slump in the mechanical watches but now. it is the fitness devices again which.

are bringing this back because the. non-screen fitness devices have come. people wear non-screen fitness device in. one hand and a regular watch in the. other hand. >> like I wear gabit and then this. >> at the same time. Yeah. So the. non-screen devices have actually brought. the watch industry back. >> Tell me two three wild ways which. watches like just they say weird thing. just to promote themselves. >> Exactly. So the first is uh this water. resistance you know they go crazy on.

that like. >> 100 ATM 200 ATM 300 ATM you don't need. that because no one is going that deep. diving into the sea with wearing a. watch. >> Which one has the highest? >> A lot of brands do that. I think lot of. diver watches specialist like Omega has. also made a diver watch with a helium. wallve release. >> where if there is too much pressure the. wall will release automatically. >> and professional diver watches have come. paneride as diver watches also you know. we were talking about the gimmicks so.

the storytelling uh you know they are. very strong and they are the best. storytellers in the world the Swiss guys. and that is something which I've learned. from them that you know you cannot sell. a watch if there is no story in. >> so tell me one was water what other. things. >> one was water another one was that. one person's grandfather was sitting in. notch in Switzerland and he was. >> sitting on a le machine and making a. watch and now that has become a legacy.

and you know it's a 100year-old 150 year. old company which is now run by the. fourth generation. >> then complications like. >> which company is this many companies all. the companies start with the same line. >> that's the village of watchmaking. >> in Switzerland. >> what is the. >> notel. >> okay. >> so where all the big Swiss brands are. there. >> like. >> all the all the brands Philip Kartier. omega all of them have had quarter. >> kart is French no. >> no but they have all Swiss uh uh units.

now they call Swiss watchmaking. >> kartier. >> Rolex was never Swiss by the way. >> if you don't know. >> I don't know. >> Rolex was not started in Switzerland. >> where is it. >> Rolex I think was started in Germany and. then it became Swiss. >> which was the best watch story that. you've heard. >> I think. >> or watch company manufacturer. >> so there are multiple stories but for me. I think the one of the finest stories. has always been the artistry work which. goes behind the watch which is real. which cannot be manufactured as a story.

you know you'll see people doing enamel. artwork like probably the watch you are. wearing that deserves a enamel artwork. on the back with a customization and if. you put your name on it for a wait list. you'll take probably a year from now. when someone will do a customization for. you. >> Yeah. >> Yeah. So these are real uh craftsmanship. which goes inside the watch. >> And I have always believed that India. can also manufacture these things. M. >> Indian crafts are no less you know um.

Indian hand painting Indian miniature. art Indian craft forms if. miniaturaturized for watches they are no. less. >> and I feel that we'll be able to fill. that gap where you see that Indian. craftsmanship handcraftedness has been. missing from the Indian watches so we. are trying to fill that gap now. >> which is your what do you which one do. you think will become the rarest watch. or the most valuable watch at some point. >> I.

>> from your. >> feel the same what we are talking about. the B watch eventually you know probably. 20 30 years from now it will become a. very celebrated collection and it will. be sold in secondary market at a very. high premium. >> 50,000 of these watches they'll still. sell at high premium. >> why not when you talk about these big. watches what you saw initially they were. made at a point when they were launched. they were made 20 30,000 watches. >> they dried down from the market and they. were left with few pieces And then. eventually it became a auctionable. product.

>> So there will be a day when people will. say this was the watch which was born. worn by Prime Minister Modi when he was. there in India and that is why this. watch is so expensive. >> and that is why people are queuing up to. buy this watch. >> and this also has a story that 1947. coin. So it's like a India independent. >> special year for all of us. >> Yeah. Then the government like the. government movement and his leadership. point. So all the lovers who love him. would want to do it and who sees this as.

a remarkable point. >> I feel you know this will eventually. became see as a watch brand again the. same thing we are only 13 years old. also. >> We are only 13 years old. >> How can you expect my products to come. in the secondary market so soon? >> Oh fair asking like do you have a. strategy in your mind? >> No the strategy is very normal and very. natural that coins will eventually dry. down and we'll not have these models. again. Mhm. >> But the best part is in India you know. government demonetizes coins every year.

like every 5 years government. demonetizes. So far 25 pesa tak coins. are demonetized. >> So we are okay to use demonetized coins. >> So as more and more currency will get. demonetized we'll always have coins with. us. >> Fair. >> Yeah. >> And then you'll by the nature of your. business it'll keep getting rarer and. >> Exactly. >> Okay. And tell me if someone's. watching it for the first time and. thinking that I want to make my or build. my own watch collection.

What should be the first three watches. to start building your own collection. across the world across the planet? Tell. me. >> See, it depends on the budget first and. foremost. I mean if you're talking about. amateur or if you're talking about a. professional like someone who knows. watches. >> No, first person ever doesn't know. watches. This is like thinking okay I'm. the first one I'm getting in the world. of watches I should have three watch. which should build my collection and. >> so the first watch will always and.

should always be a uh quartz watch for. you. >> if a young man who started making money. in his 20s now want to build a watch. collection for the first time. >> how how difficult would it be what are. the three watches which you feel like. good he has taste. >> okay so if you're asking me that. question then uh I'll say start with a. kartier first, >> okay? >> If you have the money, >> pick a Kartier quartz watch. Uh, pick a. Santos, pick a Basculante, pick anything.

what you find. A good nice rectangular. watch. If you're asking me someone who. has a taste as for me. >> Okay. >> Okay. >> That's first. >> That's the first watch you should start. Buy a basic carter quartz watch. You'll. get it for three lakh four lakh rupees. >> Okay. >> Tank tank or Santos. >> Yeah. and you start with that. >> That should be your first piece of a. quality time piece. >> Okay. >> Uh second, I'll say when you are little. up in the ladder and when you have more.

money in your pocket, probably go for a. experimental brand. >> When I say experimental brand, um these. watches are not easy to get. Like if you. are lucky enough try to get for a you. know FPJ or something like that. But. since these are not accessible right. now, don't fall for the trap of. marketing. Don't fall for a Rolex or AP. or you know don't fall for that trap. Rather buy something classier. >> and uh probably go for something like a.

Omega Speed Master. >> Okay. >> Because that's number one. That's number. two. And number three for me the best. watch maker in the world Veron. Constantine. >> Oh yeah. VC. Which watch by VC? Because. they have. >> they have multiple watches. I mean the. one watch which I fell in love had like. some 72 complications and a 6 7 year. waiting period. But at least they are. available. They don't say don't come we.

don't have a watch. You can book and you. can wait and you'll actually get the. watch. >> So. >> not like these guys. >> Not. So you know uh these are three watches. if you buy and if you wear it I think. you are a very classy person and you. have a very good taste in watches. Okay. So three actually not these are all. expensive watches. These are none of. them people can buy. Tell me a Okay. Tell me. >> Okay. If you have to buy a cheap watch.

>> cheap watch like not I wouldn't say. cheaper. Let's say the beginner watch. >> like a value for money for money kind of. VFM. Okay. >> So that it's. >> it's easy to. >> find a original HMT. >> Original HMT. Okay. >> Find a nice hand winding original HMT. watch. Don't fall for the replicas or. repainted watches. Find a original HMT. watch. That's one. >> Start with it. You'll probably pay 3,000. or 4,000 rupees. >> Oh, brilliant. >> And you'll have a nice mechanical watch. You'll enjoy the charm of winding it.

every single day. >> Okay. >> Okay. >> Nice. Okay. That's first. Then. >> second in the league, uh, go for a Titan. Edge. >> Okay. Enjoy the slim quartz watch which. India has innovated and third in the. league by a Jaipur watch company bag. watch. >> fair. this might become rare that's what you. think. >> this will become rare because of the. nature. >> so let's attach watches to personalities.

>> okay and let's do that so if someone. wants to look powerful. what watch should they wear. >> this watch in this category a powerful. watch where this is called the premium. bug. >> Okay, >> where you will see a walking tiger and. there are different settings. This is. just one model I have here but there are. different settings. The tiger is walking. in a daylight where we have put a tiger. eye stone. The tiger is walking in the. night where stars are there. We have put. aenturine. The tiger is walking against.

a water body. We have put a sea shell. abalin behind that. >> Got it? >> Okay. >> So, it's a powerful watch, statement. watch. You'll see a muscular tiger. walking and with a very Indian. aesthetics around it. >> Got it. >> Yeah. So from other brand uh if you have. to pick a powerful watch I mean this is. very personal you know how you define. power. Some people show power by money. Some people show power by rarity. Some. people show power by you know state.

>> you know u something which I don't like. Uh I'll put that here you know. >> Okay. >> Uh probably you know a lot of powerful. people show power by money. >> So that's where Jacob and go billionaire. kind of a watch will sit in. >> Okay. It's too blingy. It's too loud for. my taste. But uh that's how someone. who's ultra rich will show his power. >> Okay.

H someone who wants to show confidence. >> Uh I think any subtle path uh uh. clavitra which is like a normal. threehand watchip nautilus which. anything is fine from a pate. Mhm. Okay. Then. uh and you. >> rare taste probably will be from those. three watches which we discussed like a. FPJ John or something that is very.

classy and rare. >> Okay. The Russ Hakimo or. >> Yeah. >> Okay. >> So FP John you have. >> I don't know what's the name. >> Yeah it's we I think we can Google. quickly and see the full name but it's. FB John you put here in rare testist. H take it then. >> young quirky trendy uh something like a. you know um swatch collab watches which. have come recently a lot of them.

swatches launched that swatch pop swatch. has launched that uh moon swatch. >> okay. >> so I'll put young and. >> swatch into AP the. >> yeah so lot of these swatch. collaboration watches which have come. they're young and trendy They are in. focus for 6 months and then they. disappear. So, >> okay. Timeless. >> Uh, timeless. I think Veron any watch. from Veron. >> Nice. Okay. Here's a here's a last. question which I asked all my guest.

>> Okay. Which is. >> what cost did you pay to become. an entrepreneur. in an industry which didn't even exist? I think I paid 9 years of my life. >> What do you mean by that? >> I gave 9 years of life. without knowing I'll be successful. I spent 9 years which is almost a decade.

without making a single rupee. I spent 9 years. with lack of sleep because I knew I had. to make payments for probably the next. day. I spent 9 years asking people for money. to survive. >> That's a big cost because you don't know. what's going to be and. you don't know what the next day is. going to be like and you don't know when. these 9 years will end.

>> Yeah. >> Is it your one? Is it your five? Is it. your 20th? You have no idea. >> 99% people probably would give up by 6 7. years. >> What kept you going? I think the love for watches honestly. you told me one thing you know when we. were discussing that what about the. newer entrepreneurs or first generation. entrepreneurs if they are rich will they. spend on watches. I think I'm one of the biggest lover for. watches because I could not afford.

expensive watches and I loved watches I. started my own watch brand. >> that's a very good thing to say an. investor would hate. I know but like. >> we're not. >> it worked out for you and it's a. beautiful thing to say. >> Yeah. >> Well, I'm I'm happy that it worked out. for you. >> You know, now we are opening. international stores. and people are loving us globally. I. think that's one of the best feelings in.

the world. You know, when I'll turn on. my phone after this podcast, I'll get. like 15 notifications that, you know, so. many watches have been sold till now. Da. da da da da da da. And that is the best. feeling when I wake up in the morning. I. see that. >> the Spotify the Shopify notifications. and the store messages which come that. you know so many watches have been sold. today. So many watches have been sold. today. >> Yeah. >> So that gives me my morning you know. kick. >> Yeah.

>> When I used to run my own Shopify store. at that time I used to be like this like. the I never keep my phone on general. It's always on silent. when I made my. Shopify account then I kept it on. general like catching like that that's. >> you know my children my children know. that it is a sale. >> so they're young they're 9 years old now. so whenever that catching comes on my. phone the both of them yell together. watch. has been sold watch. and they keep a track okay that this.

order number is happening right now so. I'll ask them okay what is the number. >> so they'll make a Yes, it's 9,151. >> How sweet. Nice. Nice. Well, I'm happy. Thank you. so much for doing. >> Thank you so much for having me. Real, you know, pleasure to speak with you and. you're a great human being in person. I. really enjoyed my time with you. >> Thank you. Thank you. It was my. pleasure. I really love your love your.

journey. Love everything that you do. >> Thank you. >> I am a big cheerleader for what you're. doing. Thank you so much. >> Just I want to see this the like someone. from our country to go out and build an. international brand. Just go. >> It will happen. I promise you it will. happen. >> Absolutely. I'm waiting for it. Thank. you so much for watching this episode. till the end. We would love to know what. you liked or disliked about this episode. and which guest you would like to see. again on this show or which are the new.

guests that you want to see. Let us know. in the comments. Your feedback helps us. improve and make every episode a little. better. I'll see you the next time. Until then, keep figuring out.