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New Delhi March 12 Moet Hennessy Louis Vuitton (LVMH), promoter of over 50 global luxury brands, is planning an aggressive expansion of its premium watch brand, Tag Heuer. The plan includes more than quadrupling the brand boutiques by the end of this year.

"We are looking at expanding Tag Heuer's presence in three key markets in India which include Kolkata, Ahemdabad and Hyderabad and will be adding 23 brand boutiques to the existing seven by next year. We have set ourselves a target to become the number one luxury watch retailer in India in the next three years," said Mr Ravi Thakran, Group Director, LVMH India.

Currently, Tag Heuer, ranked third, captures 10-12 per cent of the luxury watch market in India and is growing at 60 per cent on a year-on-year basis.

Mr Thakran said that while the franchise model will be the preferred route for retail expansion in major metros across the country, the company was already in talks with India's leading retail chains for a possible tie-up. "We are talking to both big and small players for tie-ups. As for the big ones we are currently in talks with Reliance, Shopper's Stop, Pantaloons and DLF for partnerships. We plan to begin announcing our decisions within the next two months."

LVMH also has plans to set up speciality luxury malls in leading metros such as Mumbai and Delhi, in partnership with Indian players to expand the scope of luxury retailing in the country. It is also planning to introduce Kenzo fashion and leather brands such as Celine and Thomas Pink in the Indian market by next year.

Earlier during the day, Bollywood star Priyanka Chopra was named Tag Heuer's brand ambassador, in addition to its already existing brand association with actor Shah Rukh Khan. "Ms Chopra will be the face of the ladies range of the brand and will also be working on product development and design," said Mr Thakran.

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