The price of the collection ranges from Rs.55,000 to Rs.2.20 lakh
Swiss watchmaker Rado has introduced its latest range the HyperChrome collection in India targeting the high net worth individuals (HNIs) and affluent youth. The company said this collection, in the price range of Rs.55,000-2,20,000 ($1,000-4,000), represented a step forward in design and had been well accepted in the markets where it had been launched. A diamond-studded Rado watch costs around Rs.4 lakh, a company official said.
“We launched the Rado HyperChrome range (abroad) three weeks ago and the collection is sold out. We are unable to meet the demand and we expect the same response from India as well,” Matthias Breschan, CEO, Rado Watch Co. Ltd., told The Hindu .
“We are one of the top three watch brands in India and will maintain that. India is among our top five markets (China being No. 1) and as Indian economy is growing fast, the demand for our watches is also growing,” Mr. Breschan said.
“We are targeting the youth with this new collection. The year 2012 was an all time record year for Rado in India and we believe the year 2013 will be equally promising.
“We are steadily growing here and we are not here for quick money,” the CEO said.
However, despite persistent questioning, he neither revealed the number of watches sold by Rado in India nor the percentage of growth achieved last year.
He said the demand for luxury watches had been growing fast in India, and reduction in import duty could make these watches more affordable. The Rado HyperChrome collection with Monobloc case made out of ceramics and metals is unique for Rado.