New Delhi: India has emerged as the second largest market for Swiss luxury watch brand Rado, said Adrian Bosshard, Global CEO, Rado in a chat with ETRetail.
He stated that China, India, UAE, US, and Switzerland are the top-performing markets for Rado.
Commenting on Rado’s growth in India, Bosshard said that the watch brand has witnessed exemplary growth in the last 14 years and today owns an ‘unbelievably high’ market share in its price segment. He did not share the specifics of yearly growth and market share.
On comparing India’s growing appetite for luxury products to China, Rado’s Global CEO took a trip down memory lane and shared that back in 1996 – – Asia, China, and India played a small role in the luxury watch space. In 2003 China was never the luxury market it is now, he commented adding that during his visit to India last year he noticed similar ambitions and interest for luxury products with growth in jobs, businesses, and disposable income in the country.
“I strongly believe that the luxury market in India is in the beginning. This market has a huge potential and therefore, we are heavily interested in maintaining our strong presence and capitalizing on our base investments which we did in the last 15-20 years in the country.”
Answering a question on the brand’s future investment plans, Bosshard said that the luxury watch retailer will continue to invest in opening mono-brand boutiques, R&D, and strengthening its communication with the Indian audience.
Currently, Rado runs 31 boutiques in the country.
Sharing an exciting development, he said that the company has appointed Bollywood actress Katrina Kaif as its global brand ambassador. He highlighted that the move is in line with Rado’s strategy to communicate more effectively with its women customers.
