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"We believe that the Indian market has tremendous potential; therefore, from day one of operations in this country our effort has been to popularise the segment. We are not expecting to make profits for at least the next four-five years," says Ravi Thakran, Managing Director (Asia-Pacific), LVMH Watches.
He says that the biggest challenge in India is to convince consumers to buy luxury watches in India. The Indian consumers, says Thakran, have the capability and desire to shell out money to possess a Tag Heuer or a Christian Dior but they prefer to buy it in Europe or Singapore or Dubai, as they feel that it is cheaper abroad...
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