Samay seeks Japanese ally for tie-up

Clock-maker Samay, based in Morbi, Gujarat, is in talks with Japanese players Citizen, Rhythm and Sieko for possible tie-ups. If all goes well, Samay will forge an alliance with one of these watch-makers and ramp up production of wrist watches, alarm clocks and wall clocks.

Samay group, the cross-town rivals of Ajanta group have followed a similar growth chart""from clocks to CFL and even snackfood business.

Having made a mark in the alarm and wall clock segments in India, Samay now wants to expand its presence globally. Manubhai Patel, director, Samay Group, said, "We are in talks with Japanese watch majors Citizen, Sieko and Rhythm. We may form joint ventures with them."

Though negotiations are at initial stages, Patel said he may be able to make an announcement in a few months' time.

He added that Samay Group's manufacturing capacity is 30,000 units per day. Owing to competition from Chinese companies, the demand for alarm and wall clocks has dipped.

At present, the company is producing 11,000 to 12,000 watches a day. They plan to expand the capacity, Patel said. All three Japanese companies are world-class players.

Rhythm Watch Company, established in Japan in 1950, manufactures wrist watches in Hong Kong and USA. Citizen, which was started in 1918, has a manufacturing unit at Bangalore, while Sieko has been manufacturing wrist watches since 1913.

However, Patel informed Business Standard that they are ready to join hands with the watch majors only if it doesn't harm the brand.

The company wants to produce wrist watches on a large scale but the Samay brand must share equal status with these international brands, he said.

What stared off with an initial production of 20,000 quartz clocks and 10,000 timepieces has reached a level of 30,000 quartz clocks, 20,000 timepieces, 10,000 telephones and 10,000 calculators per day.

MAKING MORE TIME

Morbi-based clock-maker Samay Group is in talks with Japanese players Citizen, Rhythm, Sieko for tie-ups

Through the alliance, Samay, a cross-town rival of Ajanta, plans to increase watch production from the present 12,000 a day

Samay makes 30,000 quartz clocks, 20,000 timepieces, 10,000 telephones and 10,000 calculators per day