Cartier, the French luxury watches and jewellery brand, has planned to launch in India by opening a boutique in Delhi.
“We are in the process of setting up our boutique in the Delhi as we have got the necessary approval from the government,” Patrick Normand, managing director, Richemont FZE, said in a statement.
The company along with the Indian partner Navratna Bharat Retail Pvt. Ltd have identified certain locations and are finalising the details.
Last month, Indiaretailing had reported about government clearing the FDI proposal of Richemont Services BV for setting up a joint venture with 51 per cent foreign equity to undertake single-brand retail trading business under the brand name ‘Cartier’. The proposal is expected to attract foreign direct investment of Rs 20 lakh.
After the maiden launch, the company plans to expand to other regions for setting up its boutiques. “The company is exploring the possibility of opening boutiques in Mumbai, Bengaluru and Chennai later,” Normand informed.
Richemont’s interests globally encompass some of the most prestigious names in the luxury industry including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai and Montblanc.