The Premium Watch brand Sveston has signed in Shahid Afridi as its new brand ambassador. The all-rounder cricketer also made the announcement from his official Instagram account.
This partnership was set out to disrupt the wristwatch industry as a step to democratize affordable access to premium timepieces. This disruptive approach is aimed towards competing for high prices and making premium timepieces affordable for people who once only dreamed of buying premium timepieces.
Revenue in the wristwatch industry amounts to $665m in 2021 and the market is expected to grow annually by 10.53% (CAGR 2021-2025). Focusing on the revenue in the industry, what’s more interesting is the difference between the production cost and markup cost especially for a big-brand timepiece. And believe it or not, some of the premium watches cost even 500% more than their actual cost of production.
On the other hand, Sveston operates on a simple concept: offering limited-edition, high-quality, and affordable timepieces at prices that an average person can afford. This partnership between Shahid Afridi and Sveston is aimed at reaching the masses and creating a possibility for people to access premium timepieces at an affordable price range.
“The reason why we’re able to offer such affordable prices is that we sell directly to customers; we neither pay for fancy real-estate nor we choose to mark up our products. That is the reason why we’re able to sell our timepieces at 1/3rd to 1/4th of the prices of other premium watch brands,” Says CEO of Sveston, Fareedun Rostai.
Sveston has enjoyed wide acclaim for its beautiful yet affordable timepieces, backed by their build-quality, unmatchable designs, and extremely affordable price points. Since its initial launch, Sveston has delivered timepieces to over 10 million happy customers in a wide range of catalogs starting from men’s watches to luxury timepieces.
Sveston is one of the very few direct-to-consumer watch brands providing unprecedented value to its worldwide customers. Having no third-party retailers, wholesalers, or any resellers in between, Sveston offers its watches online at 70% discount prices.
So far, this disruptive approach is aimed at changing perceptions of high-end luxury with affordable luxury, providing the customers with same-quality timepieces but at an affordable price range.