Franck Muller's Erol Baliyan On What Went Behind Creating The Limited Edition Ram Lalla Watch

At the Franck Muller boutique in DLF Emporio, I am holding a watch I hadn't quite expected to see. On its black dial is a three-dimensional figure of Lord Ram as a child, surrounded by symbols drawn from Hindu mythology, including a swastika and a gada. The rose-gold watch has taken two years to develop, and all 108 pieces are already spoken for. A little later, I sit down with Erol Baliyan, CEO of Franck Muller Middle East, Africa and India, to talk about how the watch came to be, and where the brand intends to go from here.

Robb Report India (RR): You're unveiling a 108-piece edition created for India. Where did it begin?

Erol Baliyan (EB): We have been operating in India for almost 30 years, nearly as long as the brand itself. Over the last 10 to 15 years, we have put a lot of effort into this market, particularly through limited editions.

We did the Men in Blue collection, and with Kapoor Watch Company we released a watch for the 75th anniversary of Indian Independence. Those were very successful, so we decided to raise the bar.

Our strategy here has been built around three things: culture, tradition, and religion. We have worked with Bollywood celebrities, including Ranveer Singh, and Men in Blue represented cricket. This time, we wanted to do something that would touch people's hearts. That is how the Lord Ram Lalla edition came about.

We chose 108 pieces because the number has spiritual meaning in India. Lord Ram Lalla, I think, resonates with a lot of people. I mean, this is the God of the country. I don't think there is anything higher than that.

RR: This took two years to develop? What went into creating the watch?

EB: Two years. It's no joke. That took a lot of time, effort, and back-and- forth with our retailers and our team in India.

We implemented the Lord Ram Lalla appliqué in the centre, while keeping the DNA of the brand, the Vanguard shape. The engraving is done by laser, and it takes around 35 hours. It has our Vanguard case with an automatic Franck Muller movement. And now we are announcing it in gold, which I think is very impressive.

RR: Twenty years from now, what will make this edition worth remembering, beyond its rarity?

EB: I'm going to tell you very humbly, but I'm not going to be humble here. I don't think something like this has been done before in India. Some people may try to imitate the idea with print, but this is not print. This is laser-engraved.

All 108 pieces are already booked. But what really matters is what Lord Ram Lalla represents to the people who will wear this watch. I don't see it simply as a timepiece. It is more than that.

Twenty or 30 years from now, I think people will pass it on to their children. It's going to be a generational piece, and I think the valuation will go up as well.

RR: How do you see India's place in the Swiss watch industry right now?

EB: At an economic forum one year ago, I said India would keep moving up in the watch business. And that is what is happening. The numbers are crazy.

India was at CHF 273 million in 2024. In 2025, it went up to CHF 296 million, an eight percent increase, while other markets are struggling.

The country has moved from around number 20 to number 14 in the rankings, and in the first six months of 2026, sales increased by 28.5 per cent. For us, it's our main market right now.

RR: You've been closely involved in Franck Muller's move into branded residences. Where do the plans for India stand? 

EB: What we achieved in Dubai, I want to achieve here. We are in the process of finalising some deals. 

I think before the end of the year, maybe next month, we will announce it. We have finalised things, but we haven't signed yet. It will happen. 

Before the end of the year, let's say, we're going to announce a real estate project. 

RR: How will these residences differ from other luxury developments? 

EB: We understand construction and what it means to create a quality building. With our partners, whoever we are working with, we try to enforce that. 

When you put a brand onto a building, it's not only about getting the royalty or whatever the deal is. It is about sustaining it, making sure it stays like that. 

When people buy a branded residence, they are buying the brand behind it as security, the assurance of quality and amenities. 

I think we proved the success in Dubai, which is a very tough market. While other brands couldn't sell, we sold in 48 hours, and I'm expecting to do this here as well. 

I think we are the only one as a watch brand. Some other watch brands tried it, but it's a failure in my opinion. I wish the best to all other brands.

RR: Indian limited editions often bring local influences to the dial or case. Could India ever influence the calibre itself?

EB: If, as a collector or consumer, you want a certain calibre, we will definitely assess it. We always listen to our customers.

RR: But I'm talking about India influencing that decision at a brand level, rather than through an individual collector's request.

EB: It takes time. You cannot do special calibres overnight. It has to be studied. Even this timepiece took two years.

I think it takes encouragement from collectors, because special calibres will come from collectors. If they're requesting it, I'm sure we will do it. But we need to see the potential.

RR: Turning back to watchmaking, Franck Muller has made its name with extraordinary mechanical inventions. Where does it go next?

EB: We always evolve. Every year, unlike other brands, we come up with novelties.

We started with the tourbillons. Then came Revolution 1, Revolution 2, and Revolution 3, the tri-axial tourbillon.

At the last fair, we announced the Aero tri-axial tourbillon. It's an exceptional piece, with a full sapphire case, visible from 360 degrees, and held by a very small frame.

Then there is the Master Jumper, the skeleton version of Jumping Hours, and the Triple Mystery for ladies, where the watch operates on three discs.

RR: What do you want Franck Muller to achieve in India?

EB: I want us to be the top-selling brand here. We are almost there. Obviously, there are other giants in the market.

To be honest, we have achieved what we wanted to achieve in India. We have built the distribution network, the retail network, the offices, and the business relationships. Now the real-estate projects are going to come.

So now we need to strengthen what we have built.