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Swiss luxury brand Rado is betting big on demand from Indian women consumers, who are emerging as key buyers of luxury watches. For the brand, India is among the top three markets in terms of sales revenues and growth. The company has roped in actor Katrina Kaif as its second global brand ambassador from India alongside the launch of the Rado Centrix range. It already has a long-term association with actor Hrithik Roshan
Adrian Bosshard, Global CEO of Rado, told businessline, “Globally the brand has a very balanced mix of customers with nearly 50 per cent customers are men and the balance 50 per cent are women. But in India, male consumers contribute a larger share to our consumer base. Now we are seeing a shift with women consumers becoming more and more passionate about watches and coming into the brand’s fold. They are looking to invest in luxury categories beyond jewellery and understand luxury watches are also great assets for the long term.”
In a bid to grow the brand’s popularity among women users, it has roped in Kaif as brand ambassador, timed with the ongoing festival season and upcoming wedding season in the country. “Festivals and weddings are big buying occasions in the country for luxury products for self-consumption as well as for gifting. We have also launched a new collection in line with the festival season and are announcing our collaboration with Kaif in the run-up to Diwali and wedding season,” he added.
Kaif will feature prominently in the brand’s latest campaigns.
“Overall, for the luxury watch market, India does not figure in the top ten markets. But for brand Rado, India is among the top three markets in terms of absolute sales revenue and growth rates. It is a priority market for us and we have ambitious growth plans,” added Bosshard. Asked about the impact of the global macro-economic challenges, he added that India remains a growing market for the brand.
Luxury brands have sharpened their focus on the India market on the back of growing disposable incomes and aspirations of Indian consumers. “Our price points start at about $1,000 and go upto around $7,000, so we are positioned clearly in the affordable luxury segment. We are acquiring more and more consumers in the Indian market with a growing number of well-educated and well-travelled Indian consumers, who are increasingly looking to invest in luxury watches. We are seeing even younger consumers saving up to buy our products,” Bosshard said.
In India, the brand is sold through multi-brand outlets and over 30 mono-brand stores. “While the e-commerce channel is evolving, the biggest chunk of our sales come through the brick-and-mortar stores,” he added.
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