Swiss watchmaker Raymond Weil is very optimistic about the Indian market, exploring the possibility of a double digit growth figure here. As part of its Indian strategy, the Swiss company has entered into an exclusive partnership with Helios -- one of India’s largest premium watch retailer from Titan Company Limited. Through this strategic partnership, Raymond Weil will exclusively retail its watches in India through Helios and Ethos. The Swiss company is aiming to leverage the network of Helios which has a national footprint of 48 stores present across 25 cities in the country.
“We have similar tie ups across the globe with other retailers and it has helped us expand our reach and business, particularly in countries such as United States, England and Spain. Our expertise in watch manufacturing and the consumer-focused store network of Helios will help us grow our business in India. My father-in-law introduced the Raymond Weil brand in India way back in 1976. We have marked our presence here ever since. The Indian market has evolved over the years, with the mushrooming of shopping malls and e-commerce portals. I have observed that discounting has always ruled the business in India.” said Olivier Bernheim, President, Raymond Weil while making this announcement in Bengaluru.
Interestingly, since Raymond Weil is a privately-held family-run company, Bernheim did not divulge any specific financial growth figures. But he said that company sells around 1,50,000 watch units every year across the globe. He observed that online buying was still in its nascent stage in India when compared to the west, but will soon pick up. “I am confident that online buying will pick up in India. In Europe, I have observed that a lot of people prefer online purchases over a crowded mall or shopping outlet, for fear of terror attacks,” he said.
On the other hand, Helios is aiming to touch 50 stores in the country soon. “We offer a wide collection of timepieces for men and women, from over 25 International brands, including Raymond Weil, Tag Heuer, Movado, Frederique Constant, GC, Victorinox, Guess, Emporio Armani Tommy Hilfiger, Police and Fossil. In addition, we also provide after-sales services across our stores in the country along with EMI options for high-end timepieces. We have always aimed to provide Indian consumers with affordable luxury watch brands and our partnership with Raymond Weil is a step in that direction,” said S. Ravi Kant, Chief Executive Officer of watches and accessories, Titan Company Limited.