Watch the market

It's been almost three years since Louis Vuitton entered the Indian market with its watch brand Tag Heuer, and LVMH president and CEO of its watches and jewellery division, Asia Pacific, Ravi Thakran is a pleased man. "We have achieved what we set out do in the country," he says. Excerpts from an interview:

How do you assess Tag Heuer's performance since it entered in 2002?

In a short span of time we have gained about 15 per cent of the market share and are on course to meet our financial targets.

What is the current scale of operations?

We have over 60 retail points in cities like Delhi, Mumbai, Chandigarh, Pune, Hyderabad, Bangalore, Coimbatore and many others.

Apart from this, we have exclusive brand boutiques in the major metros. We plan to increase our reach this year by opening more boutiques.

What is the USP for Tag Heuer in India?

We are essentially a brand associated with luxury and we also have a pedigree in the sports watches segment. We have special Formula One and golf watches. Tag Heuer in India has grown 57 per cent more than compared to any other country in the world.

How have the other LVMH divisions fared?

Our wine and spirits division has the finest brands including the likes of Dom Perignon, Moet and Chandon, Belvedere vodka, Veuve Cliquot champagne, and these have been well recieved. Our fashion and lifestyle division has also fared pretty well.

What are the targets for the current financial year?

We want to have more brand boutiques for Tag Heuer and increase our penetration in smaller cities. We also want to achieve a market share of 25 per cent and give the Indian customers more stylish and luxurious watches.