In order to cash in on growing brand consciousness, luxury watchmaker Cartier plans to expand its distribution network in India, a top company official said in Mumbai.
"India is a very important region and its culture is very influential in art and jewellery. The country is very promising and we are looking to further expand our distribution network," Cartier Managing Director (Middle-East and India) Louis Ferla told PTI here.
At present, Cartier has a total of 14 boutiques in the UAE, Kuwait, Qatar, Bahrain, Lebanon and India.
It has one boutique in New Delhi and 15 retailers in 8 other major Indian cities.
Ferla, however, did not disclose the company's investment plans in the country, which he described as one of the "fastest growing millionaires' economy".
"India is one of the fastest growing millionaires' economy and consumers have started recognising the need for luxury goods and services. However, the luxury market in India is still in its nascent stage and requires careful strategies to enter and sustain," Ferla added.
Cartier plans to open more such boutiques by 2010-end in the Middle East and India.