Tag Heuer to treble India network
Swiss watch maker Tag Heuer plans to triple its stores in India by next year from current five.
The watch maker, owned by LVMH, expects India to become one of its biggest markets in sales terms in four to five years as consumers’ disposable income increases.
Despite an erosion of luxury goods sales growth in India, the company remains more upbeat about its prospects there than in some mature and developed markets, said Franck Dardenne, GM of LVMH’s watch and jewellery division.
“We are looking at increasing our presence and opening stores in malls and high streets there, so that it is accessible to even the aspirational middle class,” said Dardenne.
It will also expand its product collection to accelerate sales.
Tag Heuer entered India 12 years ago and competes with foreign peers like Rolex, Omega and Rado.