The Rado Watch Company Limited, a part of the Swatch Group, is targeting a 15 per cent rise in its sales during the current year ending December 31, 2003. It has witnessed a 11 per cent rise in sales during 2002.
Rado is expanding its marketing network across the country with the launch of 'Flagship stores' in major cities. The first such store called 'The Golden Time' was opened here.
"India is a prosperous country for us, especially with the premier segment watches such as Rado. After watching this market for the last four years, we are going to make it a 'priority market' for us," said Peter Kaser, vice-president, sales, Rado Watch.
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Kaser, who was in the town on Sunday at the inauguration of the company's first 'Flagship Store,' also said that Rado Watch is going to have 50 such stores in the next three to five years.
"We are bit choosy about the location and the partner, and right now we are in the search process of finding out potential strategic partners with whom we can go for such exclusive arrangements. We plan to add 10 more retail stories for Rado in addition to existing 70 stores in India," Kaser said.
Though he denied to divulge the exact amount Rado is planning to invest in the country in next one year, Kaser said, "We know that to sell such a premium brand in India we need to make a good investment which is in the process.
During the last four years, we have invested a substantial amount. We are also going to stress on the advertising activities during this year and specially variety of indoor promotions which will be used as an essential tool for us to promote the brand in the country."