Swatch eyes India growth

Swiss watch brand Swatch plans to take a slice of India’s retail market.

Swatch has proposed to the commerce ministry to set up 100 per cent owned retail stores in India.

The company would be one of the biggest foreign brands taking advantage of the relaxation on single brand foreign retailers after Ikea and H&M of Sweden.

Its products are currently sold through third-party retailers in India.

Industry reports forecast India’s watch market to grow from $898 million currently to $2.7 billion by 2020.

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