LVMH to bring in luxe watches & jewellery

NEW DELHI: Global luxury products group Moet Hennessy Louis Vuitton (LVMH) is planning to get its jewellery and other high-end luxury watch brands into India apart from launching its cell phones range in the domestic market within a week. The French luxury group is also investing Rs 100 crore over the next three years to expand the presence of its premium watch brand Tag Heuer in the country.

LVMH, promoter of over 50 global luxury brands, plans to bring its jewellery brands Chaumet and Fred into India. Under the two brands, LVMH would primarily sell diamond jewellery. ���We are exploring the option of entering the jewellery market as consumption of gold and diamond is huge in India,��� said LVMH Watch and Jewellery India general manager Manishi Sanwal. Besides, the company will also introduce its high-end watch brand Zenith in India in two to three months. Zenith���s range will be priced at Rs 2.5 lakh onwards.

To widen its base in India, the company will also introduce Tag Heuer��� cell phone range, targeting the elite segment by next week. Close to 20 models, priced at Rs 2 lakh onwards, will be available in the Indian market from July this year. LVMH will also launch the entire range of accessories starting from wallets, eye-wear to key chains for men soon.

Elaborating on expansion plans for Tag Heuer in India Mr Sanwal said ���We are targeting 40 standalone outlets and 125 multi-brand outlets (MBOs) in the next three years. While the stand-alone stores would open only in metros, MBOs would look after the watch lovers in small cities.���