Longines to open exclusive stores in India

Swiss premium watch maker Longines plans to open

exclusive company-owned single brand retail outlets in India following the relaxation of FDI norms in the country. The company is currently present in India through 70 stores, of which 65 are multi-brand retail outlets and the rest are franchise-owned.

The brand is not looking at retail expansion on a priority basis since Longines wants to focus on organic growth, which means improving sales through existing network. The company is currently witnessing a growth of over 30 per cent in India with sales of around 10,000 units annually and further expects a growth 15 per cent every year, over next two years.

Sold in over 130 countries, the Longines watches are available for Rs 50,000 to Rs 2 lakh in India. The company has unveiled a new collection, Saint-Imier, in India celebrating 180th anniversary of the brand. Longines considers India to be a priority market, one among the top 20 of its markets. The company’s top six markets are China, Germany, the US, Switzerland, the UK and Italy.