Swiss luxury watchmaker International Watch Company plans to open four stores in major cities such as Mumbai, Chennai and Bangalore in next one year to strengthen its presence in the Indian market. "We have set up our first store in Delhi and going ahead, we are looking at having franchise stores in Mumbai, Bangalore, Chennai and Kolkata in the next 12 months," IWC Brand manager Gianfranco A`Attis said. The company, which was present through retailers till now, sells about 300-500 units annually in India. "Now with our store in Delhi and more coming up in other cities, we are looking at increasing our sales by 50 per cent in the next five years. We want to establish ourselves in the Rs 2,000 crore luxury watch segment here," he said, adding that the luxury watch market in India was witnessing a double digit growth. The high-end Swiss brand currently offers men`s watches in the price range of Rs 2.2 lakh to Rs 32 lakh.
