Rado, part of the 4-billion Swiss franc turnover (Rs 15,200 crore) Swatch Group, has chalked out plans to garner a share of the Indian market for premium, branded imported watches. Towards this end, the Swiss watchmaker has firmed up plans to augment the number of points of sale from 100 at present to 120 by end-2005.
Stating this during an interaction with newspersons here, Mr Christian Leiggener, Regional Sales Manager in charge of India, Rado Watch Co Ltd, said that among other countries in the region, the Indian market held huge potential for the company, especially in view of the fact that "Indians have a huge awareness of branded foreign watches. In the past, they bought high-priced watches from across the world. Now, they can buy them in their own country."
Mr Leiggener said that pilot showrooms have been set up in Mumbai and Ahmedabad. Soon, such showrooms will be set up in Bangalore, Hyderabad and Chennai. Talks are underway for setting up pilot showrooms in Delhi and Kolkata as well. The number of service centres will also be augmented from 25 at present.
According to him, the Swatch Group has 16 brands on offer, including Omega, Rado, Longines and Tissot. These watches are priced as low as $40 (Rs 1,800) to as high as $300,000 (Rs 1.3 crore). The Rado range of watches will be available in India between Rs 15,000 and Rs 1 lakh. The range of high-tech, scratch-proof, ceramic Rado watches will be available in India for Rs 50,000-60,000.
The company is hopeful of selling around one lakh Rado watches above the $500-700 (Rs 22,500-31,500) price line next year. "Given the potential of the Indian market, we are hopeful of qualitative and quantitative growth," he said. Declining to divulge internal targets pertaining to volumes or turnover, Mr Leiggener said that hopefully, Rado would garner a double-digit share of the Indian market for high-end, branded imported watches.
Our typical marketing budget is usually 10 per cent of the topline spend