The Swiss watch manufacturer Raymond Weil is strengthening its India operations by opening new exclusive boutiques and shop-in-shops, according to Olivier Bernheim, President and CEO.
Mr. Bernheim was here on Friday in connection with the launch of the company's new exclusive boutique in Chennai.
He told this Correspondent that the family-owned firm established itself in India over 30 years ago and had recently revamped its operations with the creation of its own 100 per cent subsidiary, Raymond Weill India Distribution Pvt. Ltd., in Bangalore. The objective of setting up a subsidiary in India was to open exclusive boutiques, shop-in-shops and enhance the company's presence in the multi-brand watch luxury retail space.
The CEO said 2010 would be a decisive year and the company would aim to focus nationally and internationally on the brand's heritage within the luxury watch making industry by making its image even more attractive. The company would increase the brand's recognition in mature markets such as Europe, Asia and North America.
Mr. Bernheim said “Chennai is a fast-moving market and has shown enormous appetite for luxury products. Our brand has been anchored well for many years in India and we look forward to benefit in the market from the highest brand-recall among major luxury watch makers.”
He said the Chennai boutique was the second one in India. It would inaugurate a shop-in-shop in Banglaore on Saturday and an exclusive boutique in Mumbai in the near future. Mr. Bernheim said Raymond Weil was present across the globe and had enjoyed spectacular and constant growth in every market. It had also expanded into markets such as China.
The Chennai boutique was launched at The Express Mall in association with Zimsons, a leading luxury watch chain in South India.
Raymond Weil watches are priced between Rs. 45,000 and Rs. 18 lakhs.
