Emerging economies to contribute 25% to revenues: Raymond Weil

NEW DELHI: Swiss luxury watch maker Raymond Weil today said it is eyeing emerging economies like India and China to contribute up to 25 per cent of its revenues in the next two to three years.

"We are looking at emerging economies like China, India and Brazil to contribute 25 per cent to the total revenues of the company," Raymond Weil President and CEO Olivier Bernheim told PTI.

The company that is looking for major expansion in India will be opening four exclusive boutiques taking the total tally to six in the country by next month.

"We will be opening three boutiques-- one in Kolkata and two in Mumbai this week. Another boutique in Mumbai will also be opened by August. With this we will cover all the metros," he added.

The company is opening the boutiques through the franchise route.

"We make use of the best retailers to make it easy to reach the end customer," Bernheim said.

On being asked about the investments incurred on opening these exclusive boutiques, Bernheim did not share the numbers and merely said it was 'substantial'.

However, he felt that political and economic situation in India is having a negative impact on the company's business.

After the launch of the four exclusive boutiques the company will have six boutiques, 20 shop-in-shops, and 45 multi brand retail outlets in the country.

The luxury watch maker sells watches ranging from Rs 45,000 to Rs 10,00,000 in India.