Cartier, the European luxury brand sees India as an important destination in its future plans. They would like to expand their network of clients in India. For the purpose the second Concours d’Elegance is being held in Delhi to showcase rare and unseen automobiles. Cartier has a century old association with India and have done some magnificent work for erstwhile royal families creating some stunning jewelry for them that have become part of the jewelry history of the world.
Cartier has been a little late in catching up with the development of the luxury market in modern India. Luxury labels like Louis Vuitton, Hermes, Christian Dior and Chanel had made decisive moves into the Indian market before Cartier opened its first boutique in New Delhi. They now have firm plans in place to expand to other major cities in the country including Hyderabad, Chennai and Mumbai.
India’s luxury market has reached the take off stage and is poised to grow almost 12 times by the year 2015 and constitute a significant volume of $30 billion. The jewelry segment in India is traditionally dependent on the family jeweler. Paying a premium for a brand or a design is a concept that does not find easy acceptance in the country. Never the less, Cartier has a high brand recall in the country and they are confident that they can leverage their association with the maharajas to network with the billionaires of today.