Casio India eyes mid double-digit growth, expands local manufacturing

Casio India expects mid double-digit growth and stronger festive demand, while doubling local manufacturing and launching its first automatic watch under the Edifice label

Japanese watchmaker Casio’s India arm is eyeing a sustained revenue growth momentum of mid double digits in the country, while accelerating its local manufacturing programme as customers become more discerning and move towards premium products.

 

“We are also expecting a strong festival season in the country and have already launched our Onam and Raksha Bandhan campaigns. Our ad spends are also growing in proportion to our revenue growth and we expect to see a sustained 30 per cent growth in the coming years too,” Takuto Kimura, managing director at Casio India, told Business Standard.

 

The company has witnessed a growth rate of 25-30 per cent in revenue over the last two years. The watchmaker is also pushing the pedal on local manufacturing under its Make in India initiative and plans to double the number of locally produced units from the current 28 in the coming few months.

 

Kimura was speaking at the company’s launch of its first automatic timepiece in the country, the EFK-100 collection under the Edifice label, priced at ₹25,995, which consists of five variants.

 

A self-winding timepiece, automatic watches use built-in mechanisms to wind themselves when the wearer moves their wrist.

 

“This is the right time to bring a product that blends the automotive spirit of speed and intelligence with classical automatic watches to India. We aim to inspire a new generation of Indian consumers,” said Kimura, adding that the automatic watch category holds a big potential in the country. 

 

India is emerging as a lucrative market for premium watches, a trend primarily led by young generations who are increasing discretionary spending and have developed a passion for timepieces, further driving the watch market.

 

The company’s premium watch portfolio, too, has grown at a faster rate. Its G-Steel series has been growing between 170 -180 per cent year-on-year, Kimura informed.

 

Speaking about the local manufacturing initiative, Kimura said, “India has always been a priority market for Casio, and we continue to see immense potential for growth here. By manufacturing locally, we are better equipped to design and deliver products that truly resonate with the Indian mindset and lifestyle. It also allows us to be more agile in responding to consumer needs, while ensuring that the watches are more aligned with local tastes and expectations.”

 

Casio India has expanded its presence to 66 retail outlets in the country since its entry in 1996.