The Hindu Business Line : Luxury jewellery line de Grisogono to make India foray

New Delhi, July 17 Geneva-based luxury watch and jewellery brand de Grisogono is firming up its plans to foray into the buoyant Indian retail market. The high-end brand will be launching its first mono-brand outlet in the yet-to-be-launched luxury mall DLF, Emporio.

“We will be introducing our flagship boutique in India by December. The high networth individuals in India will be our discerning customers,” Mr Thibaud Jaouen, Manager, de Grisogono, told Business Line.

Retail roll-out

The flagship boutique has been set up with an investment of Rs 25 crore. “We will be adding six mono-brand outlets by 2011,” he said, adding the company is also scouting for a local brand ambassador to market its watch and jewellery line.

Speaking on its strategy for the Indian market, Mr Jaouen said the company has entered into partnership with Delhi-based Vama Group for its retail roll-out. The $135 - million company will be going slow in its expansion plans as it wants to capture the ethos of the culture.

Growth rate

de Grisogono has seen an average growth rate of 27 per cent annually. “We are confident of achieving a similar growth in India too. Our global growth is expected to feed on the further development of exclusive jewellery lines, as well as on substantial increase in annual timepiece production,” Mr Jaouen said.

Doubling the output

In 2007, the company manufactured nearly 4,000 watches. “In order to meet a demand that is greater than the company’s current output, we intend to double our production by 2011,” he said, adding that the prices start at $5,000 for a ring and $10,000 for watch. The company is also looking to draw inspiration from Indian motifs and design for its international range.

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