Cartier hopes to leverage its heritage in India’s fast-growing
luxury market. According to the Business Standard website, Cartier expected to
grow almost twelve times by 2015 to a thirty billion dollar market. “Cartier
has positioned itself as a pioneer, and sees this as an artistic advantage,
rather than a trend it needs to adapt in order to stay ahead,” says Bernard
Fornas, president and chief executive officer of Cartier International.
Fornas agrees that India’s luxury market can also grow
exponentially. This is quite evident from the response we have seen from a
sizeable number of Indians travelling around the globe and visiting our
boutiques in Paris, London, New York, Tokyo and Los Angeles.
The chief executive officer also addressed that the India
presence lags significantly behind China, where Cartier opened its first
boutique in 1992 in Shanghai. Since then, it has grown to a network of
thirty-two boutiques in over twenty cities. Cartier plans to have fifty-five
boutiques within four years and expect China to be our biggest market in ten
years.
Although the company had anticipated the development of a
major luxury market in China, the rapid pace at which it’s growing is
nonetheless surprising. Fornas said his best guess would be three to four
years. China could become our first region in the world, pointing to Cartier's
expansion into cities such as Tianjin, a northern port city near Beijing.
Fornas added that Cartier was already the number one luxury brand in China.
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