The Hindu Business Line : Rado charts growth targets for India

WITH the Indian consumer's appetite for luxury products growing, Swiss watch brand Rado has set out aggressive growth targets over the next few years and is looking to boost its retail presence in the country.

In fact, Mr Roland Streule, President, Rado Watch Co. points out that India has the potential to be among the top three markets for Rado in the next five years.

"The Indian market has changed tremendously over the past few years and there is a thirst for luxury products here. It is a very important market for us," he said. Rado is looking to end this year with a growth of about 35-40 per cent and is eyeing to grow by another 35 per cent next year. At present, the largest market for Rado is China.

Rado India further plans to increase its retail presence from the current 120 multi-brand outlets to 135 by the 2005 end, and will add 15 more outlets by the end of next year. The brand is also increasing its presence in secondary towns and cities.

A challenge, however, for the luxury brand is the 55 per cent duty on imported watches. The company has, however, brought down the price differential between a Rado watch in India and in overseas markets significantly, despite the high duties, by bringing down its margins as well as reducing the retailer's margins.

Meanwhile, in view of the upcoming wedding season, Rado has rolled out its latest range, the Coupole Jubile, a pair of watches for the wedding couple. This incidentally is also Rado's first customised offering in India, with design inputs by its local team.

The Coupole Jubile wedding pair comes with a price tag of Rs 72,000, and only a limited number of 250 pairs are available for sale.

Rado is part of Swatch Group, which also has brands such as Omega, Longines, Tissot, Swatch and Breguet among others in its portfolio.

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