Swiss watchmaker and design pioneer Rado is all set to open 17-20 exlusive showrooms across the country by the end of the calender year at an investment of approximately Rs 5 million each.
"Currently, Rado has 160 stores and 12 exclusive boutiques across India. The approximate investment of each showroom is usually Rs 5 million, depending on its size and other factors. We plan to roll out these showrooms across India with similar investments by the end of December 2009," said Roland Streule, president, Rado Watch Co. Ltd, on the sidelines of the launch of the company's first exclusive store in Ahmedabad on Thursday.
Streule further added that the meltdown has had little affect on the company's retail presence. "In spite of the slowdown, there is a good consumption at the retail level, especially in India which is one of the top three markets for the company. Also, Ahmedabad is one of the top 10 markets for Rado watches. Due to the overwhelming response that we have received from Ahmedabad, this boutique is an ode to Rado patrons in the city," Struele said.
The company, which saw a growth rate of 40 per cent last year is expecting to grow at 30 per cent in India this year, according to Partha Dattagupta, the country manager for Rado in India.
The Ahmedabad store offers exclusive selection of the brand's most celebrated products including Sintra, Ceramica, Integral, Rado True and V10K.