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The Rediff Business Special

Watch It!

Omega, part of the three billion Swiss francs Swatch group, today announced that it has roped in movie star Shahrukh Khan as its first Asian brand ambassador.

Shahrukh Khan joins the company of famous model Cindy Crawford and Pierce 'James Bond' Brosnan as the watch company's brand ambassadors, Jean-Claude Monachon, product development director of Omega, told reporters in Delhi.

Ravi Thakral, country head, said Omega plans to open six exclusive showrooms, including one inaugurated by Shahrukh in the national capital, in this calendar year. ''With the opening up of the market for watches worth below Rs 35,000 in the latest Exim policy, Omega will now offer its complete range,'' he added.

Even though Omega is the highest selling brand in India in its price category, Thakral lamented that the tariff structure is still one of the steepest in the world. ''We pay on an average 73 per cent duties on watches. This is simply too high.''

Omega started its Indian operations in late 1997 and has been ''spending heavily'' on brand building of the watch which come in the range of Rs 25,000 to Rs 2.5 lakh, he added.

Thakral said the company has adopted a multi-tier approach in widening the mass appeal of the product. Apart from taking the services of movie stars, sportspersons and models, the company has associated institutes of excellence.

UNI

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