Financial Daily from THE HINDU group of publications
Tuesday, Jun 15, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 15, 2004 |
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Marketing
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Retailing Rado to expand retail horizon — Opens exclusive outlet in Mumbai; plans 3 more Nirmal Menon
Actress and brand ambassadress of Rado, Lisa Ray, displays a watch from the latest collection — Style, in Mumbai on Monday. — Paul Noronha
Mumbai , June 14 SWISS watch company Rado plans to set up three exclusive showrooms in the country by the end of this year, and will further increase its presence to 110 multi-brand outlets up from the current 100. Speaking to Business Line, Mr Pradeep Bhanot, Brand Manager-Rado said, "Rado is growing just above the premium end market rate, which is around 20-25 per cent annually. Keeping in mind our growing clientele, we plan to introduce more exclusive outlets and widen our presence in multi-brand outlets." The Swiss watch company on Sunday inaugurated an exclusive showroom in Malad, Mumbai. This is their second exclusive outlet after the Ahmedabad showroom. "We intend to set up three more exclusive showrooms in Chennai, Bangalore and Delhi by the end of the year," Mr Bhanot said. The new showroom has been designed in a contemporary international style with exclusive furniture and display windows. In keeping with global standards, the staff for the new showroom will be trained by Rado to ensure the best service. Rado also announced the launch of its latest collection, the Sintra Superjubile `Style'. This collection has a distinct watchstrap made from tear resistant Shagreen, which gives it pearl-like surface feel. This collection is priced at Rs 1,15,000 for smaller version and Rs 1,70,000 for the larger version, and is available at select outlets across the country. Apart from promotions in select lifestyle magazines, the company has been aggressively undertaking relationship marketing initiatives where its brand ambassador Lisa Ray interacts with retailers at various forums. Just recently, top 20 retailers of Rado were taken to the Australian Open grand slam tournament. Globally, Rado has been associated with tennis. It is the official partner for timekeeping at the French and the Australian Open tennis tournaments.
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