Delhi?s heritage buildings have seen much political history pass through their portals. But branding history will soon be made at one such edifice on the city?s famed Janpath in downtown Connaught Place with BMW India setting up a ?pavilion?, the first of its kind by the German luxury automaker anywhere in the world.
To be christened BMW Studio, it is more than just another showroom, explains Peter Kronschnabl, president, BMW India. ?Spread over 3,000 sq ft, the pavilion will be inaugurated in July and will showcase the BMW brand,? he says, adding that the company will also sell its marquee models there. However, he was tight-lipped about additional details.
Auto segment insiders, though, say the pavilion is expected to take the experience of shopping for cars in India to a whole new level–matching that in Europe and the US, both in terms of design and ambience, as well as with the range of vehicles on display. The BMW Studio is also expected to stock merchandise bearing the brand?s unmistakable logo.
According to sources, for the rented space alone, the global auto giant is shelling out over Rs 1 crore a year?not a surprising figure given the fact that Delhi?s Connaught Place is listed as one of the world?s ten most expensive office markets, with an occupation cost of Rs 4,712 per sq ft a year.
Clearly, the company is betting big on the pavilion and expects a 44% increase in sales this year. The Chennai-based BMW India sold 1,387 units in 2007 and forecasts 2,000 units in 2008. According to the Society of Indian Automobile Manufacturers, the luxury car market in India?comprising BMW and Mercedes ?witnessed a robust 102.69% growth at 4,742 units in 2007-08, compared to 2,339 units in 2006-07.
?The BMW Studio is expected to boost sales of the luxury carmaker in India,? says a Mumbai-based analyst.