Consumer Behaviour For Luxury Goods Has Shifted: Gitanjali Saxena, Tata CLiQ Luxury
Tata CLiQ Luxury has partnered with TimeVallée, a luxury multi-brand boutique, to exclusively launch their first digital boutique in India.
Marking TimeVallée’s entry into India, with this launch, luxury enthusiasts and watch connoisseurs in the country can now browse and shop from prestigious Swiss luxury watchmakers recognised for their heritage, such as Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Roger Dubuis, on the platform.
TimeVallée, founded in 2014 and headquartered in Switzerland, is a multi-brand destination that offers access to the world's most renowned watch maisons. It has designed an inspiring space that blends heritage and contemporary luxury by breaking down the barriers of traditional luxury watch retailing to create exceptional horological experiences.
With its partnership with Tata CLiQ Luxury, TimeVallée has launched its digital boutique to bring this experience and the art of Unhurried Horology to all the watch enthusiasts in the country.
Gitanjali Saxena, Chief Business Officer, Tata CLiQ Luxury in conversation with BW Marketing World
Q. What does this partnership mean to Tata CLiQ luxury?
With this launch, maisons recognised for their craftsmanship and heritage, such as Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Roger Dubuis are now available on the platform.
The watch category is an important one for the platform and is performing exceptionally well. We have a strong portfolio of renowned brands, and now with the launch of TimeVallée, we have expanded our portfolio further to offer a curated range of timepieces and jewellery from the world’s most prestigious maisons.
When it comes to shopping for luxury, consumer behaviour has shifted. Today, luxury brands have also taken the online route, given the reach and accessibility it offers. Given the convenience and comfort, luxury consumers have embraced this new way of shopping for luxury. Online shopping is not just limited to certain categories like apparel and footwear but has found acceptance in other categories like watches as well, and this is only expected to grow further in the coming years.
There is already a high demand in the country for luxury watches, and with this exclusive launch, we hope to increase the digital adoption of the luxury watch category by influencing consumer behaviour and encouraging them to shop online for luxury timepieces.
Q. What branding and advertising techniques will be used for the promotion of the brand?
As a luxury lifestyle platform, we target a very niche audience segment, i.e., the top 2-3 million households, or 1–2 per cent of the top consumers in India.
The platform caters to a discerning and affluent audience segment that is digitally savvy and has a high disposable income. We will be sharper and more focused in our approach to branding and advertising to ensure we reach the most relevant audiences.
Most of our consumers are digital natives, and given our footprint in e-commerce, we will continue to be digital-first in our approach. We will leverage digital, social, and IPs effectively to drive our brand messaging, deliver an engaging brand narrative, and reach out to our existing and new customers. We will also look at enhancing the overall brand experience through brand experiences, rewards, relationship managers, and more.
Building on our brand philosophy of Slow Commerce, our approach to promoting TimeVallée will be through the storytelling of the craftsmanship, heritage, and history of the maisons, encouraging consumers to pause, reflect, and engage. Our efforts will be focused on furthering this slow commerce ethos, where we encourage consumers to savour the best through our campaigns and communications.
Q. Recently, Siddharth Malhotra started promoting the brand Movado. What are your views on brand endorsements?
Having a brand ambassador on board is one of the ways that brands can get extensive visibility, reach new audiences, and strengthen their awareness in the minds of consumers.
Furthermore, a celebrity's reputation has a direct correlation and impact on the brand; thus, it is critical to ensure that the brand's values, mission, and vision resonate with and align with those of the celebrity in order to ensure the right fit. Hence, while celebrity brand endorsements do help brands increase their awareness and visibility, it is important to ensure that the brands bring the right kind of personality on board.
