Switzerland\\\'s Swatch to open stores in India
Sunday, 20 July 2014
NEW DELHI, July 19 (AFP) : Swatch has applied to set up stores in India, a report said Saturday, as the Swiss-based watchmaker moves to tap a growing and increasingly accessory-conscious consumer class.
Swatch, with $10 billion in annual sales, has made a formal proposal to the commerce ministry under which the company would have 100 percent control of its business, the Business Standard daily said.
The watchmaker would be the biggest international group to seek entry into India's 100-percent-owned single-brand retail segment after furniture-maker IKEA and fashion clothing firm H&M, both Swedish companies.