The Pakistani watch market experienced a boom in the period after Mr. Pervaiz Musharraf took over in year 1998, but as in many other countries, the financial crisis disturbed this favorable trend after year 2008. From year 2005 to year 2008, we could sell between six and eight thousand watches a year, at a very high price. We remember the retail heights of Rado, Citizen, Seiko, Guess, Casio and Imperial watch brands. Before the crisis, we never thought of making new sales records as a retailer. The most expensive watch we sold was a Rolex men’s watch fully made of gold. After year 2008, the demand for this type of watches has dropped.
Now, our customers often prefer to repair their watches than to buy a new one. If the prevailing position of the currency devaluation remained constant, the market for the wrist watches in Pakistan will suffer more.