Austria-based crystal giant Swarovski today said it will diversify into other categories like perfumes, sunglasses and lifestyle accessories in India as it looks to strengthen its presence in the country.
“We have been more into jewelleries. However, we have added more products over the years in an effort to widen our customer base across all age groups and income...We are bringing in beauty products like perfumes and sunglasses this year,” Swarovski India Director (Consumer Goods Division) Ms Sukanya Dutta Roy told PTI.
The company has just introduced men’s accessories and has also launched ladies watches. At present, its products, which range from pens to crystal figurines, are available at price points starting from around Rs 1,400 and goes up to Rs 7 lakh.
The company introduces around 600 products per year primarily in the form of women’s jewellery.
Ms Roy said the new product introductions will be backed up by retail expansion to drive growth in India.
The firm is looking to more than double the number of exclusive outlets to 60 by 2015, she added.
“Retail expansion is our biggest point right now to maintain our growth here. So rolling out more stores at strategic locations is very important for us...We plan to have around 60 boutiques by 2015,” she said
At present, the company has 23 exclusive Swarovski stores, particularly in the metros, where majority of business comes from Delhi and Mumbai. It plans to open five stores this year.
“Our presence in the South Indian cities is still very low. Besides, we are also looking at getting into smaller cities like Chandigarh, Indore and Pune. So we want to increase our penetration and increase our presence more in Tier II cities,” she said.
While Swarovski had a global sales of around 2.6 billion euros last year, its revenues in India is undisclosed.