You have been handling India for
quite some time and are going to
be responsible in a larger role.
How important is India for Piaget?
India, for us, is a strategic market.
When you look at surveys, they say that
India is going to be in the top five luxury
markets in the world within the coming
10-15 years. So definitely, we know that in
the long run, it is a very strategic market.
And for us, it is important to create the
base now. That is the reason we went for |
a boutique in New Delhi. India, so far, is
not a big market. But Indian clientele is
very important worldwide. We sell a lot in
India, but even more in London, Dubai,
Singapore, Hong Kong and in the United
States. The more the retail level grows in
India, the more sales we will get locally.
We have the same offer they could find
elsewhere and at very reasonable prices.
So earlier they had to buy abroad, now
they can buy locally. This is the beginning
of a new process. |
If you look at the past five years in
India, would you say that you were
relatively aggressive or stable?
What is your take on the market?
I think we have to go step by step and
not sell our soul to the devil. We have to
be cautiously aggressive and very selective in the distribution. We have to sell to the very serious retailers who are selling
locally. We do not go for the grey market
because we have a very limited scope for
the brand, i.e. 20,000 watches a year.
We have good partners to sell them to.
So, we do not have to sell to everybody. |
