TAG Heuer has an aggressive market in India for the fact that there are buyers here who are brand conscious. The Swiss luxury watch brand has prominently been in Indian market since 2002 and has recently planned to open six new boutiques in India by increasing its marketing budget to its highest till date.
Indian economy has been improving and so has been the buying power of brand conscious people here. Under such favorable market, Tag Heuer has been consistently trying to grab a larger slice of the luxury watch market. At the same time, the number of enthusiastic consumers with high disposable income is also growing.
TAG Heur Launching new ranges to catering the ultra luxurious modern men:
TAG Heur ranks at 18th position in India in terms of TAG Heuer exports and what they have been planning is to give a stiff competition to their potential competitors and be in the top 10 of premium watch brands in India. For their men consumer section, they bring new Calibre 5 models for Carrera watch range. These new models complete the revamp of 3 – hand Carrera range, making to the list with other non – chronograph Carreras launched over the last few years, like Carrera Heritage Carrera 6 and Carrera Calibre 8 GMT. These new ranges are now a part of TAG Heuer’s 2014 worldwide collection for men. The new ranges are kicked off and are available in three dial colours: Silver (White), Anthracite and Black. All of them come with either a leather alligator strap or the H – Pattern steel bracelet, which makes them eloquently attractive. The new TAG Heuer Grand Carrera Cal 17 is latest to the list pricing around INR 5.74 Lac for Indian market.
The price Range for Indian men:
Maintaining the legacy of being a luxurious brand, TAG Heuer watches price in India are variant, ranging from INR 79,000 for “TAG Heuer Formula 1 Grand Date” to INR 5,74,000 for “TAG Heuer Grand Carrera Cal 17”. It should be called a great collection as around 187 different models are available within this range for the Indian market. Keeping in mind the affordability, lower segment of these watches is conducive for aspiring Indian men who want luxurious brands and keep an eye on their budget at the same time.
Where does it stand in competition in Indian market?
Competing with the leading premium watch brands like Omega, Rado and Rolex, which off course are a huge fashion statement in India and worldwide, LVMH Watch markets TAG Heuer with its new and existing marketing plans. Recent research suggest that TAG Heuer has around 10 per cent of market share in Indian luxury watch market at a sales figure of more than 100,000 units sold and lies behind the market leader, which is, Omega with 15 per cent of the market share in Indian luxury watch market. One thing which makes TAG Heuer stand out and look for a better future in India is that they are driving traffic in multi – brand outlets unlike previous approaches.
When it comes to marketing and brand promotion, which other brand could be better than TAG Heuer. The Swiss watch brand is heard to be appointing another brand ambassador for the Indian market very soon. Till now, famous and stylish Bollywood actor Shah Rukh Khan has been leading as the brand ambassador in India. TAG Heuer is also keeping an open eye on the Indian market due to global financial uncertainty and the political ambiguity in the Indian market due to general elections and surely believes that it has affected the exports of Swiss watch brand in India.
About The Author:
Lynne is a fashion writer. She has been written many tips on fashion and accessories.