Indian Firm in First Acquisition in Switzerland
Swiss Dial for Kamla Dials

Kamla Dials and Devices Limited, India's leading manufacturer of watch dials, hands and other components (listed on the Bombay Stock Exchange) has announced the acquisition of a manufacturing unit in Switzerland to cater to the high-end requirement of watch dials of well known Swiss watch brands.
With this significant move, KDDL becomes the first Indian company in the watch business to set up a manufacturing base in Switzerland, the heart of global luxury watch manufacture. The company's Watch Components Division has already been working as a preferred sourcing partner for components for some of the best-known International watch brands, deriving as much as 45 percent of their turnover from the exports alone. The acquisition will help KDDL tap a much larger market, especially across Europe, and satisfy the “Swiss made” and “Swiss Origin” criteria that Swiss brands prefer for all outsourced components.
The acquisition is a result of over a year of diligence that saw various acquisition options ranging from around US $ 1 million to 7 million being considered. The company has now announced a takeover of an existing small unit that will be upgraded over two phases, through a special purpose vehicle Pylania SA, a subsidiary company incorporated in Switzerland for this purpose.
Sharing details of the acquisition, Yashovardhan Saboo, MD, Kamla Dials and President, Pylania SA, said “We propose to revive the factory in two phases. The first phase, including the acquisition of assets and revival costs is expected to involve an investment of approx. US $ 1.2 million. In this phase we will establish the basic processes for dial production, especially the delicate and high value finishing steps. The second phase will involve an outlay of another US $ 1.5 million approximately. In this phase we will establish the manufacture of complex dials and artisanal products.”
Talking about his plans in the second phase, Saboo also said, “We have come to appreciate the deep respect that the Swiss have for technology and superb craftsmanship; in India too we have a tradition of world-class craftsmanship in miniature arts such as painting, enamel work, stone and metal work. We want to make Pylania a centre for creating new watch decorating possibilities, fusing the artistic traditions of India and Europe”.
“With this acquisition Kamla Dials hopes to break into the higher value segment of Swiss watch brands by targeting leading Swiss brands to source watch dials produced in this factory. These will conform to the provisions of 'Swiss Origin', said Saboo, adding that, 'this is Kamla Dials' first step towards globalizing its operation and taking a share of the prestigious and very demanding to the premium and luxury watch segment in Europe.’
Apart from the company's core business of manufacturing watch components for both the international and domestic markets; KDDL has also diversified into luxury and premium watch retailing and precision stamping.
The retail division ETHOS is the first national chain of premium and luxury watch retail stores in India. Ethos retails some of the best-known brands such as Breguet, Maurice Lacroix, Omega, Baume & Mercier, Jaeger Le-Coultre, Corum, Rado, Longines, Movado, Tag Heuer, Christian Dior etc.