Luxury multi-brand retailer TimeVallée has entered into a partnership with Tata CLiQ Luxury to launch its exclusive digital boutique in India. This also marks the entry of Switzerland-based TimeVallee, a multi-brand boutique, in the Indian luxury market.
Under this partnership, Tata CLiQ Luxury will offer collections of Swiss luxury watch brands including Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Roger Dubuis.
Macro-economic factors
Michael Guenoun, CEO, TimeVallée told businessline that post-Covid, the Indian luxury market has seen strong growth.
“ Looking at the macro-economic factors, the Indian luxury market is poised to witness significant growth over the next decade. So we felt this was the right time for our online debut and launch in India through this partnership,” he added.
The luxury multi-brand boutique aims to tap into the growing base of affluent consumers not just in metros but also smaller towns and cities. Guenoun also pointed out the challenges of lack of enough luxury malls available in the country as one of the key reasons for the boutique’s digital debut in India.
“Online luxury segment is growing qualitatively. We have high ambitions for this market and this strategic partnership will help us grow our India business significantly,” he added.
In a bid to offer seamless expierence, the luxury lifestyle platform will offer assisted selling, dedicated customer service to enable consumers to get guidance from experts, tamper-proof packaging and an extended warranty among other benefits.
Expanding portfolio
“Digital adoption and penetration is growing for the luxury watches category in India. We believe that digital is a great way to scale up this category. This partnership will help us expand our portfolio and offer consumers a curated range of timepieces and jewellery from the world’s most prestigious maisons with the launch of TimeVallée on our platform,” said Gitanjali Saxena, Chief Business Officer, Tata CLiQ Luxury.
She added that consumers are increasingly turning online even for high-value purchases as long as they get the promise of authenticity. “Our aim is to become a significant channel partner for luxury brands in the coming years,” Saxena stated.