de Grisogono to enter Indian retail

India is the new launch market for Swiss luxury watch and jewellery brand de Grisogono. The company will set up its first Indian store in end-2008, in Delhi. This venture is being executed through a partnership with Delhi-based Vama Group and will command an investment worth around Rs.25 crore ($5.8 million). The store will deliver jewellery at price points of $5,000 (Rs.214,000) upwards and watches from $10,000 (Rs.428,000).

Furthering its foothold in Idna, the company plans to launch another six outlets by 2011. It is optimistic to touch a growth graph of an average of 27 percent per year, as it has worldwide.