Jaeger-LeCoultre to open mono-brand boutiques in India
Swiss luxury watchmaker Jaeger-LeCoultre which has been selling watches in India through distributors, said it has decided to set up its own subsidiary – Richemont India Pvt Ltd – here as a precursor to opening its exclusive stores. Watch servicing facilities throughout India are a priority for the subsidiary which will be operational from February 2012. Currently, Jaeger-LeCoultre is sold through 10 authorized dealers in India.
Other Richemont watch brands such as Vacheron Constantin and IWC might follow suit. According to CPP’s research, watches represent along with cars, the two most developed luxury sectors, outpacing fashion, accessories and jewellery (international brands.