The Many Hues Of Luxury Shopping

As the number of uber-rich continues to rise, expect heated action in high-end retail in the coming years.

- Goutam Das

Peeping out from under his white cuffs are two watches, one on each wrist. That is not what Olivier Bernheim, the Global President of Swiss luxury watchmaker Raymond Weil, usually does. But, today, in Delhi, he just wants to show off some of his company’s latest gear.

Bernheim is the son-in-law of Raymond Weil, the company’s founder, and joined the family business in 1982. But he had made his first visit to India even before that, in 1978. On a honeymoon. He has been making trips to India ever since, and along with Weil, hand held many unorganised retailers who were selling from nondescript shops while they transformed to being more organised. The retailers were flown to Geneva, introduced to other brands, and schooled in selling expensive, sophisticated watches.

Until a few years back, most Indians who could afford it, shopped for a watch in Dubai or other foreign destinations. He got a great shopping experience, variety, and possibly, a better price. Much of this has changed. Information has become fluid because of mobile phones and the explosion of social media. Brands cannot indulge in differential pricing. Even as regulations are making luxury shopping more white than grey in India, the shopping experience is improving considerably. Many of the retailers Raymond Weil hand held decades ago have to pull up their socks to remain relevant.