Jacob & Co Isn't Making Watches for India. It's Making Bets on India's Billionaires.
5 min read
There's a $1.5 million watch sitting on Anant Ambani's wrist right now with his own hand-painted face engraved inside. Another watch honoring the Ram Mandir sells for ₹56 lakh. A third celebrates Sikh heritage with sacred symbols. A fourth was custom-created for Nora Fatehi after her FIFA World Cup performance.You might think this is Jacob & Co's way of connecting with Indian culture. That's exactly what they want you to think.The truth is messier and more interesting: A Swiss-American luxury watchmaker has figured out the ultimate hack for selling six-figure timepieces to India's newly minted ultra-wealthy. And it's not by making watches for the masses. It's by making watches that feel personal, culturally rooted, and impossible to find elsewhere.It's a masterclass in luxury positioning disguised as cultural respect.
Here's what's actually happening:
India's luxury watch market is valued at $4.62 billion in 2026, with 11-12% annual growth. Mumbai now hosts more billionaires than Beijing. That's the story. Not "Jacob & Co respects Indian culture." The story is: Jacob & Co sees money. Over the past couple of years, Jacob & Co sensed clear momentum in India. When the brand signed the exclusive partnership with Ethos, their reading was that India already had a quiet base of Jacob & Co collectors, a growing base of Indian buyers comfortable with watches that are not merely expensive, but expressive.
Translation: There are rich people in India who want to buy statement pieces. Jacob & Co is the ultimate statement piece.
Let's talk about what these watches actually are.
A Jacob & Co watch isn't subtle. They're not. The Epic X Ram Janmabhoomi editions feature detailed reliefs of temples, inscriptions of Hindu Gods on the dial and bezel, with the dial meticulously engraved with religious iconography. The Sher-e-Punjab Edition's vertical bridges are engraved with Roaring Lions, Khanda symbols, and Ek Onkar. The inner bezel features "Sat Sri Akal" - a sacred Sikh greeting. The watch comes with a striking blue rubber strap with honeycomb texture. These are loud watches. Intentionally. They're designed for people who don't just wear watches - they perform them.
The highlight for me : The Jacob & Co. Opera Godfather Baguette “Shiva” reimagines high watchmaking as pure theatre. Crafted in 18K rose gold and set with baguette-cut diamonds, it brings to life a fully animated movement of 658 components. At its center, a custom Shiva figurine rotates within a flying triple-axis tourbillon, while the iconic Godfather melody plays on demand through a 120-note mechanism. A bold expression of sound, motion, and artistry—pushing horology into spectacle.
The question isn't whether Jacob & Co respects Indian culture. The question is: does it matter? Look, the brand clearly put thought into these designs. Jacob & Co introduced Ram Janmabhoomi editions in October 2024, replacing the Gateway of India with the Ram Mandir - an emblem of India's diverse heritage and the brand's dedication to authentic cultural representation. But let's not romanticize this. A luxury brand creating culturally-themed watches isn't revolutionary. It's marketing. Sophisticated marketing, yes. But marketing nonetheless.
The real story is the market timing.
By 2036, India's middle class and affluent consumers will account for 93% of all spending, up from 80% in 2026. By 2035, over 20% of each key generation will spend $45 or more per day. That's the macro trend everyone's watching. But Jacob & Co isn't betting on the middle class. It's betting on the ultra-wealthy. India's HNWI (High-Net-Worth Individual) class is growing at the fastest rate globally. Mumbai now hosts more billionaires than Beijing.
That's the actual audience.
Consider the celebrity associations.
Salman Khan collaborated with Jacob & Co on "The World Is Yours" - a $34,000 dual-time zone watch priced in stainless steel, featuring a globe dial with saffron and green accents, laser-engraved world map, and Khan's initials on the lower dial. Now, is this a genuine friendship between two visionary creators? Maybe. But it's also strategic. Khan has 80+ million social media followers. That's reach.
Jacob & Co created the Opera Vantara Green Camo for Anant Ambani - a $1.5 million bespoke timepiece at the center of which sits a hand-painted figurine of Ambani, surrounded by lion and Bengal tiger depictions, set against a green camouflage background made from 397 precious stones totaling 21.98 carats. This isn't a watch. It's a status artifact. It's Ambani's commitment to Vantara (his wildlife rescue initiative) turned into haute horlogerie. It's brilliant positioning because it makes luxury meaningful for ultra-wealthy individuals who've already bought everything else.
The Ethos partnership actually reveals the strategy.
Jacob & Co opened boutiques in Mumbai and Delhi through Ethos Watches, India's pre-eminent luxury watch retailer. For Ethos, the Delhi opening signals that the brand's audience has become large, serious, and distinct enough to support dedicated spaces.
But three boutiques across all of India? That's not a mass-market play. That's a concentrated play aimed at specific cities where ultra-wealthy individuals congregate.
Here's the reality:
Jacob & Co isn't making watches "for India." It's making watches for India's ultra-wealthy. The cultural editions aren't about accessibility or representation. They're about relevance - making sure that when a billionaire walks into an Ethos boutique in Mumbai, there's a Jacob & Co piece that speaks to their specific identity. Is it effective? Absolutely. Nora Fatehi received an exclusive unreleased FIFA World Cup-inspired timepiece in red and green (Moroccan flag colors), placing her in an elite league with Cristiano Ronaldo, Rihanna, Jay-Z, Drake, Lionel Messi, Salman Khan, and Nita Ambani.
But let's call it what it is: strategic luxury positioning in an emerging ultra-wealthy market.
Not cultural democratization. Not accessible luxury. Not watches for "India."
Watches for India's billionaires, carefully curated to make them feel seen.
That's the actual play.
