Swiss watchmaker Rado has lined up plans to increase its point of sales from 150 to 175. It also plans to increase the number of exclusive showroom to 14 from the present 6. In the past 3 years, India’s appetite for luxury goods has gone up and Rado has seen its sales grow 3% YoY. The company recently introduced Chronograph range of watches starting at Rs 67,000.
In a separate development, Tommy Hilfiger which was one of the early foreign retailers to taste success in India is now planning to have its presence in Tier-II and Tier-III cities – Ahmedabad, Ludhiana and Lucknow. Mr. Chaturvedi, CEO of Tommy Hilfiger India said,
There is immense appetite for luxury brands in India. The market is exploding. We are currently in the second phase of expansion and will be having 23 points of sale by the end of this fiscal.
The company may go in for shop-in-shop formats rather than having exclusive stores. High duty on imported goods is the main hurdle for its growth in India.