Indian Luxury Market size by Value •USD 4.76 Billion (2009)•CAGR 13% (2007-2009)
Indian Luxury Product Market by Value •USD 1.5 Billion (2009)•CAGR 15% Approx. (Across Product Categories)
Indian Luxury Watch Market •USD 1,66 Million (2008)•20% Growth per annum (Approx)•USD 1,99 Million (2009) (Approx)
Industry Overview
Source: Luxury in India: Charming the Snakes and Scaling the Ladders , A CII – A.T. Kearney Report, October 2010
Luxury Watches
Haute Horlogerie
Audemars Piguet,
Blancpain, Breguet, Girard-
Perregaux, IWC,
Jaeger-LeCoultre,
Patek Philippe, Vacheron
Constantin, Franck Muller, Zenith
Women’s / Jewelry
Bvlgari, Cartier,
Chopard, Piaget
Prestige
Breitling, Hublot, Omega,
Rolex, Tag Heuer
High Range
Baume & Mercier,
Ebel, Longines,
Montblanc, Raymond Weil, Rado
Market Segmentation
Criteria: High Dollar Value (Price) and Brand Specialty
Source: Watch Market Review, February 2010
The Indian law states that single-brand foreign retailers are permitted to invest up to 51 percent in a joint venture with a local firm. Richemont had recently forwarded its FDI proposal to set up the Cartier joint venture with its Indian partner Navratna Bharat Retail Pvt. Ltd., at Rs.20 Lakh ($50,000) investment.
Regulatory Law
While Launching in India, Cartier (Richemont Group) had to abide by the following regulation:
Source: Diamond World, 2008
Marketing Objective
•20% for the year 2011-2012•Up from 5% from the year 2009-2010
Growth Rate
•6% for the year 2011-2012 (Approx)•Up from an approx 5 % for the year 2009-2010
Market Share
•Extend network beyond Delhi-Mumbai and open in cities such as Chennai, Bangalore, and select Tier 2 cities by 2012
Distribution Network
The Objective is to Achieve:
Source: Watch Market Review, September 2009
Luxury is Indulgence
Luxury is Reward
Luxury is Functional
Consumer Segmentation
Source: Experiential Luxury Report ,SRI Consulting Business Intelligence, 2008
Consumer Demographics
Age:30-45 yrs
IncomeM.H.I: INR 25 Lakh
Onwards
Occupation: Medium Size
Entrepreneur Owners, Traditionally wealthy families and Large
Industrialists , Senior Corporate Executives
Location: Delhi, Mumbai,
Bangalore, Chennai, Ludhiana, Chandigarh
S.E.C : A1+, A1
Source: Luxury in India: Charming the Snakes and Scaling the Ladders , A CII – A.T. Kearney Report, October 2010
Brand Positioning
Global Positioning: The brand is build around the following strengths:
• Legacy/Heritage• Dynasty of Style• Elegance• Fine Craftsmanship• Unwavering and unmatchable consumer loyalty
Current Brand Positioning in India: The brand in India currently is positioned around
• High brand recall with the Maharajas (Heritage)• Blending of fine art jewelry with Indian influences• Coming home to Brand Loyalists
Suggested Alternative Positioning:
Welcome to the Cartier Family. Extending the fraternity beyond heritage to new members to redefine influences and contemporize the art of jewelry watch design..
Base Line
It’s an invitation
Media: Objective and MixTo reach out to at least 70% of our target audience in each of the cities (Delhi, Chennai, Kolkata, Mumbai, Bangalore, Ludhiana) by providing at least an average of 3.7 OTS over the campaign duration of 6 weeks
Print (60%)
Television
(20%)
Online (10%)
Media Vehicles
• Consumer Publications such Vogue, India Today, Cosmopolitan, Femina. Magazines on Planes
• Trade Magazines: Business Today, Outlook, Business Week
• Newspapers: TOI, HT, Mint, Hindu
Press
• Advertise on channels like TLC and Star World and BBC India
• On shows such as Luxury Unveiled, TLC Shoppe Jewelry show, and TLC Super Swank
Television
• Advertise on websites such Luxury Insider, Luxury Unveiled, and social networking sites such as Face book and Twitter. Online
Deliverables
OnlinePlace Cartier thumbnails on websites like that of, 5 star hotels, airlines, exclusive clubs, golf courses, and select websites. [see image billionaire 500, Rolex and Cartier]
Objective:
• To reinstate that sense of Pride on owning a Cartier Watch• Extending an invitation, welcoming you to the Cartier Family• Build on Consumer Loyalty
Customer Loyalty Program
• Identify Cartier consumers across cities-Delhi, Mumbai, Kolkata, Bangalore, Chennai, Ludhiana for the year 2010
• Send them Scrolls and Treasure Chests with an “Invitation’ along with a photo Album of all the Indian royalty and Other Iconic people who have owned/own a Cartier –The last photograph being the customers
• The Invite would read “We Welcome you to our Family Mr. XYZ Cartier, and would like to have the honor of your company with celebrate the a Successful relationship”, So After their surname, we will attach Cartier.
• The invitation would be for a party on the 29th of December . A year-end party for Cartier owners across the country
• Venue: Leela Kempenski, Gurgaon.
• We would offer to fly customer and his/her family in to Delhi for the Party.• The party would be have exquisite food from across the world. A painting
exhibition, Rarest wines and so on
• At the end of the party each guest would get a safa like clothing, made by designers in France on the Indian theme. This would serve as memorabilia for being a part of a luxury family. “Welcome to the Family”
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