Swiss luxury watch maker TAG Heuer has opened a new boutique store in the Phoenix Market City on Whitefield Road in Bangalore. The company has invested Rs 2.5 crore in the 450 sq.ft. outlet – its second in the city – that showcases the global range of watches available at Tag Heuer stores worldwide. The products range from Rs 70,000 to Rs 5 lakhs.
Company officials see Bangalore as a large potential area for future investment. “The city has a huge potential for us due to its developed areas,” said Shahnawaz Khan, Regional Sales Director, South Asia. “The Whitefield area has a lot of expatriates and IT sector employees which together provide a good catchment area for our store.” He said that malls are better suited to the company’s retail expansion strategy because they offer air-conditioned comfort to shoppers and there is a dearth of quality high-street locations in the country.
TAG Heuer President and CEO Jean-Christophe Babin inaugurated the store along with the billiards world champion Padma Shri Pankaj Advani and tennis ace Somdev Devvarman. The company presented the sportsmen the Award for Sports Excellence for their contribution to Indian sports. It also launched the new TAG Heuer Carrera ‘Monaco Grand Prix’ Limited Edition watch on the occasion.
