1 hr ago
Baume & Mercier Bets on India, Stays Swiss and Accessible
Baume & Mercier is a Swiss watch company that wants to sell more watches in India.
It believes more Indians are becoming interested in watches and can afford luxury products.
The company already has about 50 sales locations in India.
It wants to open special stores called flagship boutiques.
Actor Janhvi Kapoor and cricketer Shreyas Iyer are helping promote the brand.
The company says its average watch costs about €2,500.
It does not want to raise prices just because other watch companies are becoming more expensive.
Its CEO also says the watches will continue to be made in Switzerland.
The company sees potential in cities such as Bengaluru, Chennai and several smaller cities.
Baume & Mercier is expanding in India, where it has about 50 points of sale.
The company plans to open flagship boutiques and sees demand beyond Mumbai and Delhi.
Actor Janhvi Kapoor and cricketer Shreyas Iyer recently became brand ambassadors.
CEO Michael Guenoun says the brand will protect its average €2,500 price position while adding product value.
Baume & Mercier will remain Swiss-made despite discussions about developing watch manufacturing in India.
- Who
- Baume & Mercier and its CEO Michael Guenoun, along with newly signed ambassadors Janhvi Kapoor and Shreyas Iyer.
- What
- The Swiss watchmaker is expanding its Indian presence while maintaining its value-focused pricing and Swiss manufacturing.
- Where
- India, including Mumbai, Delhi, Bengaluru, Chennai and other cities; the watches will remain Swiss-made.
- When
- The company’s India strategy and brand changes were discussed after its new chapter was presented in April; Damiani acquired the company in July this year.
- Why
- Baume & Mercier sees growing Indian interest in watchmaking, expanding wealth, improving infrastructure and greater local luxury consumption.
Key facts
- Owner
- Italian jeweller Damiani acquired Baume & Mercier from Richemont in July this year.
- Indian presence
- The brand has around 50 points of sale in India.
- Average price
- Baume & Mercier’s average watch price is about €2,500.
- Price range
- Its products range up to a perpetual calendar priced at €20,000.
- New ambassador
- Actor Janhvi Kapoor and cricketer Shreyas Iyer recently joined as brand ambassadors.
- Collections
- The brand is especially known for its Riviera and Clifton lines and has introduced the feminine Joia line.
- Expansion plans
- Baume & Mercier plans to open flagship boutiques in India.
Quotes
Michael Guenoun
Chief executive of Baume & Mercier
“Swiss watchmaking is Swiss watchmaking. I am a purist on that. It is not something we would consider for Baume & Mercier.”
firstpost.com
“We are big believers in India’s readiness to be, in the very near future, one of Swiss watchmaking’s major markets.”
firstpost.com
Sources
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