Jaeger-Lecoultre files for Indian approval
Swiss luxury watch brand Jaeger-Lecoultre has sought approval from India’s government to open single-brand stores in the country.
Jaeger-Lecoultre is owned by Swiss luxury group Richemont, which also owns Alfred Dunhill, Montblanc and Cartier, amongst others.
The watch brand is the first luxury brand to apply for foreign direct investment in India since the government relaxed the rules last year.
Richemont’s revenue reached 10 billion euros ($13.7 billion) in 2013.