The Indian Luxury market is stable and growing, says OLIVER GOESSLER of Montblanc, in an interview with Rashmi Hemrajani

"All other parts of the world are feeling the pinch, but the Indian economy is far more stable, the reason being that the upper middle class is growing. Indians have the money and are spending. They want to buy a brand as a sense of achievement. If you have reached somewhere in life, you enjoy a particular class of product. Indians want to use the money they have earned well," says Oliver Goessler, Regional Director India, Middle East and Africa, Montblanc. But with majority of the Indian population being in the age bracket of 25 to 35 years, would the younger lot be loyal in their brand purchases? Oliver says, "Surprisingly this is true. The younger clientele are very loyal, in fact most of them start with a small purchase like a bracelet and then climb the product ladder." He explains, "It is very important to connect with the customer. There is one emotion that each brand brings out with the customer, it's about selling a lifestyle and attaching an emotion to it."

Oliver is in the city as the brand will soon be opening its second showroom in Mumbai. This will be an exclusive jewellery boutique in the Taj Mahal Palace & Towers at Colaba. He informs, "The launch would be somewhere in the first week of April and this is the world's first- ever 'only jewellery' boutique of ours. It would stock our entire range of jewellery —bracelets, earrings and watches too." Would a second boutique at the Taj, which was recently a victim of the terror attacks, make him flinch a little from this decision?

"Honestly, no. I think at this time it is very important to support such a hotel. The Taj is a heritage structure. The terrorists had planned to ruin the hotel and if we had to be scared then they would have succeeded."

As for expansion plans, Oliver has been looking at properties in Pune, Bangalore and smaller cities such as Chandigarh and Ludhiana.

Also, with more competition coming to India, what does he think will be the brand's future? Oliver states, "Competition is always good. There is nothing to worry. We have set up a customer base and people come to us for repeat buys as well."

Rashmi Hemrajani/ DNA-Daily News & Analysis Source: 3D Syndication