Swarovski, an Austrian company that has spellbound the world with its crystals range is now going to retail watches in India. The Country Manager of Consumer Goods Business, Ms Sukanya Dutta told Business Line, “Swarovski has made a name for itself in jewellery and fashion accessories over the last few decades. We want to explore the possibilities of crystal as it ventures into the field of watch-making”. 

She said, noting that introducing Swarovski crystals to the world of watches is the culmination of over three years of research and development that the will introduce the category to its customers in India. 

She said that, “we will have at least 45 models in the watch category. These watches will be priced between Rs 25,000 to Rs 77,000. Metal, leather, rubber will be enhanced with crystals and Swarovski’s logo and its emblematic swanflower motif in each model”. 

Ms Dutta Roy, talking about Swarovski’s retail expansion said that the company is looking to expand to 30 stores by 2012. The company in the gifting, fashion accessories and home decor business has 17 stores currently. She added to it, “We anticipate an investment of Rs 20 crore just for the fit-outs alone as a Swarovski store in India will be similar to one anywhere in the globe. Adding its tie-ups with large retailers like Shopper’s Stop is yielding a larger customer base.” 

Speaking about the revenues, Ms Dutta Roy said that India is a promising market for the brand even though currently it contributes a miniscule to the global turnover. “India contributes about € 4 million (Rs 26 crore apprx) currently. We are looking at a 26 per cent growth for the current year (January to December).”

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Tissot is all set to expand in Indian market

Related Books:
Concise Guide to Military Timepieces
The Cartier Collection: Timepieces
Comic Character Timepieces: Seven Decades of Memories

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Posted by Naresh Koshti on 7 July, 2009 3:30:01 PM IST #