Swatch, the iconic Swiss watch brand, plans to set up several new Swatch stores in the country, in the current financial year. These new stores are likely to be in Bangalore, Kolkata and New Delhi. The company's objective is to have its exclusive stores in the top eight cities in the country.
In addition to the new store in Chennai, the company has three such outlets in India -- one each in New Delhi, Mumbai and Hyderabad. The company plans to shortly launch the ``world's thinnest chronograph''. This watch would be just 6.8 mm thick and will be made available in India.
In India the Swatch stores are operated by franchisees, while internationally Swatch follows a dual policy of company-owned and franchise stores. The company has over 300 such outlets across the world. These stores feature the entire Swatch range, including lines such as Originals, Skin, Irony and Beat.
The company is promoting another concept such as the Swatch Kiosk in malls, atriums and airports, all of which have a large number of visitors. These are compact but comprehensive units that retail and merchandise the Swatch range. There are two such kiosks in India, one at the Crossroads mall in Mumbai, and the other at Ansal Plaza in New Delhi.
Swatch has adopted a multi-pronged brand building strategy in the country. One aspect of this strategy is to create more awareness about the brand through various promotional activities. The company had organised a fashion show featuring its watches, in Chennai's Spencer's Plaza, to coincide with the opening of the new store.
Mumbai and New Delhi account for over 50 per cent of the company's Indian revenues. The company started operations in India in January 2000, and the first Swatch store was inaugurated in February 2000. The company's watches are currently available at over 75 multi-brand outlets in 23 cities.