| While inaugurating an exhibition of Cartier watches in Chennai, Igor Baschet, area manager, Cartier, said the company was considering setting up an exclusive Cartier showroom in Mumbai or Delhi. |
| At present, Cartier has 15 retailers across eight cities in India. Baschet did not disclose the details about the growth of luxury watch segment in India. |
| However, Baschet said that the company was targeting the growth of high networth individual in the country, estimated between 30 and 50 per cent annually. He said that the Indian market is yet to mature and is price sensitive. |
| "It is usually the metal watches priced between Rs 75,000 and a lakh that are fast moving," he said. The price of Cartier collection of watches ranges from Rs 75,000 to Rs 45 lakh. |
| Baschet added that the imported luxury watches were around five per cent more expensive in India due to a levy of 40 per cent import duty. |
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