LVMH expanding its luxury brands portfolio in India

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In line with the burgeoning demand for luxury brands in India, Moet Hennessy Louis Vuitton (LVMH), France-based promoter of over 50 global luxury brands, plans to launch its mobile phones range, under its premium brand Tag Heuer, in India within a week.

Also on the cards are the company’s jewellery brands Chaumet and Fred, which will primarily sell diamond jewellery. A high-end watch brand Zenith, which is priced at Rs 2.5 lakh onwards, is also expected to be launched soon.

“We are exploring the option of entering the jewellery market as consumption of gold and diamond is huge in India,” said LVMH Watch and Jewellery India general manager Manishi Sanwal.

Elaborating on Tag Heuer’s expansion plans in India, Sanwal said, “We are targeting 40 standalone outlets and 125 multi-brand outlets (MBO) in the next three years. The standalone stores will open only in metros.”

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