It is commendable to see that Luxury Brand retailers have went an extra mile to understand the second line of Indian customers who would want some kind of security on the Luxury products they buy – like Tag Heuer watches. Ethos Summit, the retailer of all Luxury brands state of art time-pieces has tied up with Oriental Insurance and is giving away free insurance with the watches purchased at their outlet.
Mr. Saboo, CEO of Ethos told us that,
It is a unique concept in India where a watch retailer is giving Free insurance. The premium Ethos pays is in the range of 2% of the cost of the brand and these watches sell for anywhere between Rs 50,000 and Rs 300,000.
Ethos has also found out that many owners of luxury time-pieces are reluctant to repair because of the high cost involved and the company has struck a deal in such a way that Insurance will now cover some repairs too.
Ethos has 18 stores spread across Tier-I / II cities in India – Bangalore, Mumbai, Delhi NCR, Ludhiana, Chandigrah etc.