The Hindu Business Line : Swarovski to double investments in 3 yrs

AUSTRIAN crystal major Swarovski, which set shop here in 2001, plans to double its investments in the country over the next three years. The Country Manager, Mr Shiv Kumar, told Business Line the company would increase its exclusive outlets to 15 in two years. With each new outlet costing approximately Rs 1 crore, the Austrian crystal major is expected to scale up its investments to Rs 15 crore by 2005-06.

"But we are yet to achieve break even in India. We are currently in the investment stage and expect operations to break even soon," he said.

On the `Out of Africa' Autumn/Winter collection 2004 that Swarovski launched simultaneously across the world, he said this African-inspired collection marks the beginning of a new direction in the company's brand strategy. "In future, there will be two jewellery collections per year, displaying a distinctive, contemporary design. We will aim to achieve an unmistakable, uniform look which establishes a connection between individual product lines."

Mr Kumar said a 1500-member Swarovski Collectors' Society has been formed in the country that collects products made exclusively for its members. This society comprises people who value Swarovski products and purchase the numbered limited-edition items at nominal prices.

The latest crystal piece to be launched under this scheme is called `The Bull'. Mr Kumar said four new crystal collections would be unveiled each year. He said all products the company sells here are imported from the parent company's production site at Austria.

"We pay upwards of 40 per cent of import costs as duties but even then we have positioned the brand at the top end of the mass market," he added.