Wristwatches have long been considered as a status symbol for being a stylish tool that has practical uses while also being a clear indicator of the wearer's social standing.

This is because ever since portable timekeepers were invented in the 16th century, they were only accessible by affluent people and so, their association with luxury persists to this day.

This is true even in least developed countries like Bangladesh, where the growing purchasing power of the country's middle class has propelled the demand for wristwatches over the past decade.

And although there is no reliable data, market insiders believe the demand for regular and premium wristwatches is currently worth around Tk 200 crore with annual growth of about 8 to 10 per cent.

The growing market has attracted numerous international brands over the years with Noise, a leading wristwatch retailer in India, having announced its debut in Bangladesh today.

Noise has entered Bangladesh as a step towards expanding its celebrated smartwatch portfolio by reaching a larger consumer base, the company said in a press release.

Fuelled by innovation, design and consumer centricity, the brand revolutionises the way users experience and integrate smart wearable technology to upgrade their lifestyles.

Gaurav Khatri, co-founder of Noise, said they are thrilled to extend their footprint in Bangladesh.

"This strategic move represents an exciting chapter in our brand's journey as we aim to grow and bring our celebrated innovation to the reach of Bangladeshi consumers," he added.

Khatri also said they are committed to empowering individuals with technology that seamlessly integrates into their lives and look forward to providing locals with an unparalleled experience.

Arafat Mohammad Kabir, proprietor of Kabir Watches, said the increasing number of young consumers in Bangladesh is driving the demand for wristwatches.

Kabir, who imports products of 14 international brands such as Aero and Mathey-Tissot, added that watches made by Swiss brands have the highest demand in the country.

Safayet Chowdhury Jason, general manager of Mohammad & Sons, said demand is growing thanks to the rising brand consciousness and increasing number of affluent people.

"Watches are a symbol of urban sophistication," he added.

A forecast by Statista, a German online platform specialising in data gathering and visualisation, said the wristwatch market in Bangladesh is expected to grow by 5.79 per cent annually between 2023 and 2026.

According to him, there is good demand for both luxury and mass brands imported from countries like Switzerland, Germany, Japan, France, the US and India.

Jason also said that consumers previously bought luxury watches only when they would go abroad to visit friends and family.

"But now, these watches are available in Bangladesh," he added.

Mohammad & Sons, a concern of Meghna Group, is the local distributor of world-renowned Swiss brands like Zenith, Tag Heuer, Montblanc, Movado, and many more.

Similarly, Time Zone, a subsidiary of the Kallol Group of Companies, is another a major importer of wristwatches that retails renowned international brands in the country.