Swiss watch maker Oris targets high end consumers

The ocmpany is looking to set up two independent boutiques in 2014

Catering to premium segment consumers, the Swiss-based automatic watch maker Oris has envisaged around Rs 22 crore marketing spend for the next two years to make the brand popular amongst high end consumers.

The company forayed into Indian markets in July 2012 and developed 14 point-of-sales (POS) since then with an expenditure of around Rs 6.32 crore. Now, by the end of calendar year 2013, the company plans to develop 30 new POS through franchise route.

According to Sanjay Mishra, General Manager, Oris Watches India, the company is looking to set up two independent boutiques in 2014. For promoting brand in India, we have chalked out an investment of another 15.50 crore in the next two years, he said.

With over 104 years in existence and spread all across Europe, Oris offers all types of stylish watches for premium segment customers in Europe. Now, Oris sees a great potential in India as the automatic watches that went out of fashion around three decades ago, is now coming back in consumers’ mind.

Consequently, all leading watch brands have now started manufacturing automatic watches.

Offering an exquisite collection with facilities like gold plating, diamond setting and coating, all-weather wear etc, average Oris brand watch costs $2200 a piece. With the entry level of Rs 59,000, the price of Oris brand watch goes up to Rs 259,000 with facility to make it customized. The company offers three years warrantee also with replacement on manufacturing defect.

Still, our brand is cheaper than the premium segment watch brand available in India. Therefore, we can call it affordable, Mishra added.

The company sales around 173,000 pieces of watch per annum globally.