Financial Daily from THE HINDU group of publications
Thursday, Aug 19, 2004
Financial Daily from THE HINDU group of publications Thursday, Aug 19, 2004 |
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Marketing
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Retailing Dior opens outlet in Hyderabad Our Bureau
Brand ambassador Yana Gupta signing a poster during the launch of Christian Dior watches in Hyderabad on Wednesday. - A. Roy Chowdhury
Hyderabad , Aug. 18 WHAT is common to Harley Davidson bikes and Christian Dior watches? Both make fashion statements. Interestingly, the latter makes designer watches that suit the style of such beautiful machines and their enviable owners striking a common chord. Well, this is just half of the story. Dior watches are here for the discerning. Interestingly, they have begun to make inroads despite the fact that India has about the highest duty structure anywhere in the world at about 81 per cent. The Brand Manager of Moet Hennessy Luis Vuitton (LVMH) Watch and Jewellery, Mr Shantanu Mukerji, said, "Dior watches have begun to make inroads into India and we could not have delayed their rollout any longer because of the high duty incidence. However, as and when the duty structure comes down, this would make it an even more attractive proposition for Indian buyers. However, the best part of Dior's Indian story is that India has become a centre for simultaneous launch of their worldwide product offering." Launching its first theme Store in Store at Meena Jewellers in Hyderabad, Mr Mukerji said the Dior watches are priced at Rs 17,500 to Rs 2,50,000 and target people in the 18-35 age group. "Since this falls in the ambit of a fashion statement, we have roped in the likes of Yana Gupta and Sonalika to serve as brand ambassadors . While it is early to make a statement about the entire range of Dior products, we could soon see the launch of other products," Mr Mukerji said. The premium Indian watch industry, estimated at about Rs 250 crore last year, is growing at 30 to 35 per cent per annum in the organised sector.
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