The Time-Keeper
Matthias Breschan, Brand President & CEO, Rado talks about brand loyalty for the luxury watch in India, growth of retail outlets, getting new products for younger clients without losing focus on the existing clientele and why Rado watches can’t be bought online in our country Q] The brand had service centers in India before product retail outlets came up. How did this happen, and also what has worked in favour of the brand in India? Rado really started to become strong in India in the late 70’s and early 80’s, much before we could actually set up retail in the country. People were exposed to this brand when they travelled abroad. But they lacked service, so while we couldn’t set up retail outlets then, we set up service centers in the country so people could buy watches abroad and have them serviced here. That is when the relationship between Indian consumers and Brand Rado started. For Indian consumers, what really worked was having a time-piece that is timeless. Thanks to the hard metal, the watches are scratch-resistant. This immensely helped strike a chord with Indian consumers and nurture brand loyalty for Rado. It is a lifetime purchase, which still retains its newness after several years. We have in India a loyal traditional clientele; we are also now focusing on getting new products for younger clients, without losing focus on our existing clientele, who are extremely important to us. Q] How dynamic is the media mix for the brand? The communication mix is a mix of everything, as the consumer behaviour changes a lot. What is true today is not true tomorrow. The media mix has become complex with each year. We have a lot of direct contact programmes, and exhibitions where we have viewings for exclusive pieces, which are not available in the retail environment. Q] What are your observations on the Indian consumer? The Indian consumer is a very demanding consumer, very educated and aware. He recognizes value and substance, and is able to make a distinction between real value and price. Q] What is the thought process and match with brand ambassador Hrithik Roshan and the brand? Will you also be leveraging him on a global platform? More than success and failure of his films, what really matters is the character of the person and what he stands for - Hrithik Roshan tries new things and takes risks; and this goes with our philosophy. Yes, we do have plans of leveraging Roshan globally. Q] What is the time lag between launching hyper chrome globally and in India? It was launched at the end of last year globally. Q] Is the age of the Rado consumer getting younger? The traditional Rado consumer was 40-plus and now it is 30-plus, but a lot more important than the demographics is the definition of the mindset. Consumers are young at heart. Q] What do you think about the luxury watch market in India today? It is one of the strongest and fastest growing markets and we expect India to be like this for 10 to 20 years. We would like the duties to disappear. The sooner the better. The Indian economy is growing very fast. The middle class is taking advantage of this and getting access to more luxury goods than they had in the past. Q] What are the brand’s rollout plans for 2013? We will be launching products with new materials and designs that are really revolutionary innovations in the watch industry. It will be for younger consumers as well as our traditional consumers. Q] Who is your traditional consumer? The person who makes a one-time purchase for life and needs to make sure it is a timeless watch that still looks stylish and remains in an excellent condition over the years. One who believes that watches are simply not tools to tell the time, but the perfect accessory to say something about your personality. Q] Are there any plans of going online, like the brand has done in some US markets? We do not have plans of doing this in India anytime soon. It is not a question of the US, or being a developed market, but consumer behaviour. Indian consumers still need to touch and feel the product.
Tags : CMO Interview