Financial Daily from THE HINDU group of publications
Thursday, Nov 25, 2004
Financial Daily from THE HINDU group of publications Thursday, Nov 25, 2004 |
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Marketing
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Strategy Titan in service pact with LVMH Group Boby Kurian
Bangalore , Nov. 24 TITAN Industries Ltd, the largest domestic watchmaker, has entered into a pact with Moet Hennessy Louis Vuitton (LVMH) Group, the global luxury products major, to service the latter's bouquet of watches in India through its customer care centres. Titan has bundled its service centre business into a separate business unit as part of a recent corporate restructuring exercise, and expects to build a robust revenue stream from the same. "The LVMH watches available in India such as Tag Heuer and Christian Dior are serviceable at select Titan customer care centres and authorised service centres," Mr Bijou Kurien, Chief Operating Officer (COO) of Titan Industries Ltd, told Business Line. As part of the arrangement, LVMH has helped the backend requirements of Titan's customer care centres to deal in servicing the global brands. It must be mentioned that Titan had earlier disclosed that several leading global brands were in talks to leverage on its strong network customer service centres, which now number over 600 across the country. At the time of spinning it off into a separate business unit, Titan had already inked a pact with Nokia for maintenance and repair services of mobile phone handsets, and stated that its customer service centres would look beyond watches. The watch and jewellery division of LVMH forayed into India in July 2002 with the reintroduction of Swiss brands Tag Heuer and Christian Dior. It recently announced plans to expand the watch portfolio by bringing in brands such as Fendi and Zenith aimed at niche masses. LVMH hopes to make India one among the top three markets for Tag Heuer brand in the next five years. The brand, priced at Rs 35,000 onwards, is currently endorsed by Bollywood stars Shahrukh Khan and Sushmita Sen. The company, which imports and sells, has 40 stores across 18 cities and is expected to add 15 more stores in smaller cities such as Coimbatore and Lucknow by next year.
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