LVMH-owned Tag Heuer is piggybacking on its watch business to sell its luxury phone range. Targeting first-time luxury watch buyers, the company has launched an entry-level luxury android phone.
While two of its earlier phones Tag Heuer Meridiist and Link are priced between Rs 3 lakh and Rs 5 lakh in India, the company has strategically priced its smartphone model Tag Heuer Racer at Rs 2 lakh.
“Our watch business is growing higher than average in India. We wanted our watch customers, many of whom are young high income individuals, to look at the mobile phones as well. Mobile phone is the hottest accessory and we see it growing,” Serge Simon, General Manager, Atelier Haute Communication, said.
While noting that India is among its top 10 markets, Simon said the company will be distributing it through 10 exclusive points of sale and numerous multi-brand retailers.
He said the despite being a niche category, the luxury mobile phone business will overtake the watch industry. “Globally the share of luxury phones is estimated at 0.005 per cent,” Simon added.
The company said the demand from Indian market for high-end phones has prompted it to simultaneously introduce its international collection in the domestic market as well.
He said the company has also set up an exclusive service centre that will cater to the after sale service requirements of watches and phones.
Tag Heuer Racer will compete with Nokia's Vertu, Armani and Christian Dior handsets, in the uber luxury category. Market estimates put the sale of high-end luxury phones in India at about 2,000 units (all brands included) through various points of sales last year.