Legendry global wristwatch makers, Cartier International, recently launched a physical presence in Nigeria through a deal it sealed with Polo Nigeria Ltd, a popular dealer in luxury goods. Bruno Carraz, Cartier's Director of Exports, in this interview with UZOCHI ACHUMBA, gives an insight into the growing potentials of Nigeria's luxury market. Excerpts:What informed your decision to enter the Nigerian market in full measure as you have just done'We want to discover Nigeria, which is today one of our main focus and our main strategy. We want to pioneer on Nigerian markets, we have heard a lot about Nigeria and its economy and we want to discover Nigeria and know what it is all about.I think there is wastage at the cultural level, as long as we talk about watches you go to polo and that's it. We want to give a very good image of the brand in Nigeria.What is your perception about the luxury market in Nigeria'Nigeria citizens are very sophisticated, they travel a lot and very much inspired by European trends. They are waiting for our luxury trend in general to be here, to be accessible for them and also to buy a watch or bag here in Nigeria instead of traveling to London or Paris.So, we are bringing the brand here (in Lagos and in Abuja). The luxury market is growing, not only in Nigeria, but in every part of the world. Even during the economic crises, we experienced big increase from one year to another. At this time of economic depression, people are looking for investment in terms of jewelries, watches and bags. They know what they want to get so they know where to invest.What is the actual size of the luxury market in Nigeria'I think the market is quite large because the Nigerian economy is growing very high. It is difficult for us to give the actual size of the market; but today what is most important to us is to establish a brand and where we want it to be.We think Polo is ready today with good personnel to establish a brand in Nigeria. But generally, the luxury market in Nigeria is quite high.So, do you foresee any challenges that could stop you from realizing your mission'We need to first set up the brand and the bases here in Nigeria and challenges are big because, although the brand is well known by quite a number of citizens in Nigerians, we need to introduce it to other clients in Nigeria as well. As the pioneer in the market in terms of luxury, we need to convey a message on the luxury to attract people, we need to educate people as well, communicate through the media to introduce our project, what it is all about in terms of watches, and so on. This is one of our main challenge.We would conduct trainings and communication; we need to invest some money in trying to ensure that the quality we have in Nigeria is quite the same with what we have in Paris.How important is the African market to Cartier's overall marketing strategy'African market does not have a large percentage. We have a story; we are writing a book and we are also on the front pages. The mission is really to set up the brand and be the pioneers but today we don't have the figures; yet, we are looking for figures as far as Africa is concerned. We are also looking to convey the brand and luxury market to the world and to be able to pioneer in those markets.Maybe in five, 10 or 15 years, Africa will be the first market. So, today we are dealing on only African market. Our main ambition is to take Africa market to the top and maybe in 15 years it will be a very good leverage for the brand for sure.Any relationship between security and growth (or fall) in demand for luxury goods'Today, security is a matter of priority everywhere because you can go to the market, buy a good and it will be stolen.What are your thoughts about Nigeria'Until yesterday (two weeks ago), we knew Nigeria only through books, magazines and TV. We have come to see (and we are pretty amazed) between Lagos and Abuja ' the size of the country. Now, we are really convinced about the potential of this country.And one of our missions is not only to promote the brand but also to promote the country, so that when we get back to Paris and Geneva we would be able to speak about Nigeria, to show our friends in the luxury competition that today Nigeria is one of the best for sure.
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