Corum eyes 10% sales from India in 5-10 years

The Dollar Business Bureau

Swiss watchmaker Corum is eyeing India as a significant market which is expected to contribute around 10 per cent to its total global sales turnover in the next 5 to 10 years.  

The company has already started expanding its foothold in India by joining hands up with Ethos Watch Boutiques, one of the leading luxury watch chains in India. This will consolidate the retail network of the company paving way for more sales in the potential market. 

According to Corum Global VP and Member of the Board Jacques-Alain Vuille, the company always tries to capture new markets with India having emerged in their next line of target. This is done by reviewing the current and relevant trends that help the company in setting their future targets.” “We are aware of the chance by working with Ethos," added Vuille. 

The price of Corum watches starts from Rs 1.5 lakh onwards and the company has also introduced Admiral's Cup Legend 42 range in India, with a starting price of Rs 2.58 lakh. 

The company will be majorly looking at major tier-II cities along with focusing on the top eight developed metro markets. 

"We come to the potential of the point of sale of the market. So we would not neglect a city whether it is tier I or II as long as there is market potential. And naturally also with our Bubble model, we are open to the idea to have the model present in different locations," Vuille added. 

Corum decided to enter India with the help of an independent agent and is also planning to have an ambassador. This will give the company a larger focus on digital platforms for carrying out branding and promotions in the Indian market.