Tag Heuer buoyant about India market

Keeping the positive prospects of India market in mind, luxury

watch brand Tag Heuer from Indian subsidiary LVMH Watch and Jewellery India will continue to invest in building the brand for the next five years. Swiss watches and Tag Heuer occupy the top slot in India.

The Indian Swiss watch market comprises of 40,000 pieces in volume terms and Tag Heuer enjoys a 15 percent share of the market. The market is valued around Rs 1,000 crores and Swiss watch imports by India has been growing at 8 percent annually.

Tag Heuer has been keenly developing its market share in all the BRIC nations. At present its sales are equally balanced between the US, Europe and the Asian market, with Japan being a large market in the continent. Present in as many as 87 multibrand premium outlets, Tag Heuer has been building its own exclusive brand outlet chain. It has eight boutiques and will be adding six more in key cities in three years. EBOs account for one-fourth of its sales.