Dior to double footprints in India

New Delhi, May 24 (UNI) Targeting a major share in the high-end watch market in India, Swiss luxury watch maker Dior will double its footprints in the country to have 35-40 outlets over the next three years.

The LVMH group company presently has 18 multi-brand outlets (points of sale) across the country and an exclusive Dior boutique in the national capital.

''We foresee a big potential in this country for our luxury products. India will be among the top three Asian markets for Dior in the next three years,'' worldwide CEO of Dior watches Valerie Lachaux told UNI in an interview.

It will be a mix of multi-brand outlets and exclusive showrooms, Ms Lachaux said.

Dior wants to tap a significant share in the 1,000 euros-4,000 euros watch segment and will adhere to its global pricing strategy in India, without hiking the prices despite high import duties, Dior Regional Manager (South Asia) Shantanu Mukerji said.

''We aim to be a key player in the 1,000 euros-4,000 euors watch market with a 10-12 per cent share over the next three years,'' Mr Mukerji said.

Dior watches cost around Rs 75,000 and go up to Rs 9.50 lakh apiece. The company will look at Tier II cities such as Bangalore, Hyderabad besides metros like Kolkata, Delhi and Mumbai.

The visiting CEO was in Delhi for the launch of the company's Dior Christal range endorsed by Hollywood star Sharon Stone.

The company is in talks with several retailers and may also look at an Indian face as its brand ambassador in the future, a company source said.

The latest collection has been designed by fashion genius John Galliano.

UNI