Home Retail Swiss Watchmaker Swatch Submits Proposal for Setting up Stores in India

    Swiss Watchmaker Swatch Submits Proposal for Setting up Stores in India

    By  
    SHARE

    Switzerland-based swiss watchmaker Swatch has submitted a formal proposal to the commerce ministry for setting stores in India under the 100 percent FDI route following the footsteps of and H&M, reports a leading daily. Swatch earns annual sales worth roughly about $10 billion, the paper reports.

    At present, the chain sells its watches in the country through dealers and third-party stores. The product portfolio of Swatch comprises around 20 brands across different ranges including Breguet, Longines, , , Omega,  Rado, and Blancpain. The paper mentions that the watchmaker is known for its brand endorsements and expensive prices.

    In Switzerland, Swatch also manufactures and supplies components to third-party watchmakers. It employs around 33,600 across 50 countries.