It is really hard to believe the way multinational retailers, especially in premium and luxury watch segments are flocking India. Earlier this week, we covered Raymond Weil’s pans for exclusive outlets. Today, de Grisogono another Luxury watch and jewellery brand from Switzerland wants a pier of the Indian market. The first mono-brand boutique will come up in India’s Luxurious Retail destination DLF Emporio Mall, Delhi. This is setup at a cost of $5 mn.
Mr. Thibaud Jaouen, Manager said,
We will be introducing our flagship boutique in India by December 2008. The high networth individuals in India will be our discerning customers. We will be adding 6 mono-brand outlets by 2011.
The company hopes to clock a 27% growth in India, in-line with its global growth. The company is also looking forward to induct Indian motifs and designs for international range. Suggested retail prices of de Grisogono Rings is USD 5,000 and for a watch is USD 10,000. de Grisogono has entered into a partnership with Delhi based Vama group for retailing in India.