By John Lee.
Swiss luxury watchmaker TAG Heuer plans to open its first store in Iraq by either 2013 or 2014, company President and CEO Jean-Christophe Babin told Gulf News in an interview.
Gulf News: You have opened a boutique in Iran and planning one for Iraq and Kurdistan. How much growth do you expect from these markets, given their economic and political situation?
Jean-Christophe Babin: Luxury is driven by demographics and per capita GDP, Iran has the demographics, it has natural resources and one of the highest per capita GDP but not necessarily with the embargo… As the country will evolve and open, very likely it will become with Dubai the largest luxury market in the region so it’s important for a brand to be the first entrant… there’s a reward to your daringness.
(Source: Gulf News)