Luxury watchmaker TAG Heuer is expanding its presence in India. The Swiss manufacture is set to open six new boutiques in the country, which has become a strong luxury market.
The move to open the six boutiques will be executed in conjunction with an increase in TAG Heuer’s marketing budget for India, according to Business Today India. The news outlet spoke with Franck Dardenne, General Manager of LVMH Watch and Jewellery, who noted that the increased marketing budget will push it to the highest numbers spent by TAG Heuer since it entered the Indian market in 2002.
“Now, India ranks at the 18th position in the world distribution of TAG Heuer exports,” Dardenne told Business Today India. “In the next decade, we want TAG to be in the top 10. TAG Heuer has 10 per cent of market share in the Indian luxury watch market where 100,000 units get sold, while the market leader Omega has 15 per cent share of the luxury watch market in India. Also, TAG Heuer is driving traffic in multi-brand outlets like never before.”
“We are here to build the brand,” Dardenne concluded.
Pictured above is the TAG Heuer boutique in Prague, Czech Republic.