MUMBAI, October 18
Omega Watches, part of the 3.6 billion Swiss francs Swatch Group, has launched a new version of the classic Seamaster, called the Seamaster Professional 300m. The watch, priced between Rs 45,000 and Rs 1,00,000, was introduced by Omega ambassador Shahrukh Khan.
The core range of Omega, which accounts for 90 per cent of sales in India, is priced between Rs 40,000 and Rs 3,00,000. But then, how is it different from other Swatch brands?
"Excellence, classic yet trendy" is how the company would like to describe it. While the company was unwilling to discuss sales and revenue figures (as per the Swatch Group policy), it was confirmed that Omega had registered 25 per cent growth in terms of the number of units sold last fiscal over the previous year.
So what is the new Seamaster expected to do to Omega's fortunes in India?
Frederic Bondoux, area sales manager, Omega International, said, "Omega first came to India in 1929 through an agent in Calcutta. After a total ban on importing watches was imposed during the seventies, we exited India. It was only in 1997 that we reentered. In this short period, I think we have done a good job of reviving the Omega brand. Today Omega is among the stronger brands from the Swatch family in India. The Seamaster contributes largely to this, constituting 30 per cent of our sales in India. We expect this percentage to grow now. Of the four models we have, only the Constellation sells more with a 55 per cent share of total Omega sales in India."
Omega currently has 31 point-of-sales (exclusive showrooms) in India and a total of 16 service centers, where the services rendered is on par with international standards, say company officials. While the Omega brass refused to discuss the ad-budget, Bondoux did comment on the corporate plans. "Since India is still a new market for Omega, the ad and promo budget continues to be relatively high compared with most other markets. There would not be any change in this budget for the current year," he said.
© 2000 agencyfaqs!First Published : October 18, 2000