Ahmedabad: Swiss watchmaker Rado plans to increase its presence in India by opening 5-8 exclusive stores by this year end, its president Roland Streule said today.
“The markets in Asia are growing and there is good consumption of retail products in developing countries. India is an emerging economy and we plan to increase our presence here,” Streule told reporters after inaugurating Gujarat’s first exclusive Rado showroom here.
“At present, we have 12 stores across India. We plan to increase it to 17-20 by the end of 2009,” he said.
Streule said last year they had achieved a growth of 40% and this year they are targetting 30%.
On expectations from Gujarat market, Streule said he was very optimistic about the state and expected more than 30% growth here and Ahmedabad was among his top ten markets.
“Our major market is North India and second in line is the western region including Gujarat,” he said.
In reply to a query about Rado’s closest competitor, Streule said there was no competition as Rado watches have a unique look, technology and make.
However, he later admitted that in terms of price, Omega watches are Rado’s closest competitors.