Citizen thinks big on premium wall clocks

Japanese watchmaker Citizen Watches has identified growth opportunities in the premium wall clock segment in India. As apartments in metros look at wall clocks that blend into the decor, the company is keen to capitalise on the opportunity.

At present, the wall clock segment is largely dominated by low-ticket products priced from Rs 200 upwards. In comparison, Citizen has launched a wide range of about 400 wall clock designs at price points ranging from Rs 4,500 to Rs 53,000.

Satish Halageri, manager, merchandising and advertising said, "The company has introduced value-added clocks to tap households that would spend a substantial amount on home decor."

The wall clocks offer a variety of features such as 12 types of chimes and a night-shut mode to turn off the chime sound at night. Initially, Citizen Watches plans to introduce the wall clocks through First Citizen, its chain of exclusive outlets.

Halageri said, "We have forayed into a niche segment. Logistics do not permit us to distribute them in multi-brand outlets or through other dealers." Citizen plans to open more than 100 First Citizen showrooms as a part of its retail expansion.

According to an industry expert, "Conventionally, the wall clock market has been predominantly restricted to lower price points. Citizen has been the only brand to expand in the premium space, which has tremendous potential due to the rising home decor segment."

A First Citizen dealer said that wall clocks, especially those priced between Rs 15,000 and 20,000, are getting a good response in the market.

Citizen's move could propel other watch brands to consider an entry into this market, according to industry sources. Rhythm, another Japanese brand, is trying to consolidate its position in the premium wall clock segment.

Citizen is aiming for about 30-40 per cent year-on-year growth in India and it plans to invest $12 million in the next three years. India contributes 3 per cent to the company's global turnover and plans to expand the Indian market to account for 10-15 per cent of total sales in the next five years.