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Retailing
is as imperative as the product itself especially for the luxury
industry. Luxury retailing in India has just come off age thanks
to the farsightedness of handful of individuals who started early,
stayed committed to the cause, invested without adequate returns
and fought against all odds. In this series, we feature six such
stalwarts who are gradually putting India on the world map of luxury
business. Five of them have been controlling huge markets, namely
New Delhi, Mumbai, Chennai and Ahmedabad for several years now while
the sixth one has just begun with a bang with a multi-city launch.
Here is what they have to say about the future of luxury retailing
in India and their plans.
Sandeep
Kapoor, Kapoor Watch Co.
On luxury retailing
There are better times ahead as the present generation - the workforce
of India - has more disposable money to spend on lifestyle and luxury
goods.
On merits and demerits of luxury retailing in India
I don't see any disadvantage in luxury retailing. Today Indians
are very well travelled and can afford to buy these luxury goods
as their annual incomes have improved in comparison to the 80s and
the 90s. If we don't provide these goods in India, people will start
getting them from the neighbouring countries.
On the firm's Swiss brands
In 1995 we started with Baume & Mercier. In fact, we are probably
the first in India to have imported watches from Switzerland. We
have recently signed Breitling, Rolex and Girard-Perregaux.
On future plans
We plan to expand in our home turf, Delhi.
On the firm's top three brands
It's Omega, Rolex and Cartier.
On change in customer awareness and expectation of the luxury
brands
Yes, there is a significant change in customer awareness. The budget,
media and greater exposure to the world outside keeps the customer
informed about the latest trends and fashions.
On India making it to the Top 5 of premium end market
We will make it to the Top 5. In the coming years India would definitely
be one of the top retailing economy.
On training of manpower on sales, technical know-how and service
Our sales staff attend seminars organised by the Swiss companies
and update their knowledge with the latest development on new products.
Our technicians visit Switzerland from time to time for further
training.
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