Seiko Watch plans to expand presence

Seiko Watch India, a subsidiary of Japanese watch maker Seiko, is planning to expand presence across the country through its new models and opening more retail outlets.

“In the first six months of this financial year, we have posted a 90 per cent growth in sales and entered into the top-three league in premium luxury segment. Now, we want to open more retail outlets to make our new products available for masses,” said Tetsuji Ishimaru, managing director of Seiko Watch India.

“We would like to concentrate more in the Eastern region, as it has high potential. Our outlets in Kolkata are doing well. We are in the process of expanding our presence in other parts of the region like Guwahati, Shillong, Patna and Siliguri,” he added.

 

Seiko started operating in India three years ago and sells around 253 watch models at prices ranging from Rs 5,200 to Rs 60,000. It has also introduced a range of clocks for desi customers.

“We expect to be the top brand by owning more than 20 per cent of the market share in premium luxury segment by 2015. For that, we will raise our retail presence to 220 outlets from the current 165 store in 48 cities,” said Niladri Mazumder, the firm’s vice president (sales and marketing).

The clocks, aimed at mass market, are priced between Rs 1,000 and Rs 34,000.

The company is also going to launch some international products like Grand Seiko, Galante and Ananta, with a price band starting from Rs 1,00000.

“We plan to start 10-12 boutiques major cities, which will be one-stop shops for Seiko products. To offer better services, about 10-15 more service centres will be opened,” Mazumder said.