Omega, part of the Swatch Group, recently launched the DeVille watch with a new technology called the co-axial escapement. The DeVille watches are priced between Rs 1,25,000 and Rs 5,55,000. The DeVille collection has three models - Omega Calibre 2500, 2627 and 2628 - which are available in 18-carat gold, stainless steel and alligator leather strap. The company gives a three-year warranty on the collection.
"The new co-axial escapement technology is a result of the intensive development work in conjunction with renowned British watchmaker George Daniels," said Jean Claude Monachon, vice-president, product development, Omega. "The heart of the new escapement is a double co-axial escape wheel and a new lever design with three ruby pallet-stones. The technology reduces the friction in the escapement and dramatically improves the long-term accuracy of the watch."
Currently Omega has 60 per cent share of the premium watch segment in India. According to the company's research findings, India ranks among the first 10 countries on its roster with "a few lakh" Omega owners. With its latest offering, the company hopes to sell more than 3,00,000 units this year.
The company plans to leverage its 35 Omega outlets to sell the new DeVille collection. This year, the Swatch Group will open seven to 10 retail outlets for Omega in the non-metros like Pune, Ahmedabad, Cochin and Trivandrum.
Though the company spokesperson refused to talk about the ad spend for India, she said, "The company has a 450 million Swiss Franc worldwide budget for advertising." The new print campaign for DeVille will break this week.
About the advertising strategy, Deepa Chatrath, regional marketing, south east Asia, Swatch Group, said, "This campaign is going to be different from the rest of the campaigns. The emphasis will be on heritage and tradition rather than celebrity endorsements or fashion and lifestyle statements that Omega ads have made in the past three years. The DeVille watch symbolises a fusion of tradition and modernity. And to communicate that the focus is going to be more on the product features and the technology - for the discerning customers to appreciate the various dimensions of the product."
The ads will appear in all the national dailies, besides targeting general interest magazines like India Today and special interest ones like Femina, Business Today and Cosmopolitan. The company is also looking at promotional activities to enhance brand recall of Omega. Omega has signed a five-year agreement with the Indian Polo Association to be the 'Official time-keeper of Indian Polo.'
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