Raymond Weil, the Swiss watchmaker, is in advanced stages of negotiations with superstar Amitabh Bachchan to endorse its brand in India. The deal is expected to be sealed shortly.
Bachchan is the latest filmstar to endorse a Swiss watch brand, the others being Shahrukh Khan, Aishwarya Rai and Twinkle Khanna who endorse Omega and Longines and Movado, respectively. Former Indian cricket captain Mohammed Azharuddin earlier endorsed the Tissot brand.
Interestingly, all the three brands belong to the Swatch Group, with Aishwarya Rai’s contract having been renewed recently for another term.
Raymond Weil’s decision is the latest indication of the Swiss watch industry focussing on India, in spite of an 85 per cent import duty.
In the recent past, the Swatch Group, as well as Egana of Germany, have set up 100 per cent subsidiaries here, while the LVMH group of France has disclosed that it shortly plans to do the same.
Source: Business Standard