Japanese watch maker Seiko today said it is on a retail expansion drive in India with plans to open more exclusive outlets and increase presence in multi-brand stores in the next one year.
The company, which is present in India through its subsidiary Seiko Watch India, had recently opened its first exclusive boutique in Chennai. It now plans to add nine such stores in the next 2-3 years across the country as well as increase its point of sale to 215 outlets by next year.
"We plan to have around 10 boutiques in the top major cities in India, including Mumbai, Delhi and Bangalore in the next two-three years," Seiko Watch India Vice-President (Sales and Marketing) Niladri Mazumder told reporters here.
He, however, did not specify on investments, saying all the exclusive stores are franchise-based and a minimum of Rs 30 lakh is spent on the interior.
Besides, Seiko, which today introduced its range of clocks, said it plans to increase its retail presence to 215 outlets from 155 stores in the next one year.
"In the next one year, we want to take it to 215 outlets across from 155 multi-brand stores. At present, we are present in almost 46 towns," he said.
On its products, Mazumder said the clocks launched will be placed in the upper segment of the market and will be priced between Rs 1,700 and Rs 33,900.
Earlier, the company had announced plans to introduce its global brands 'Galante' and 'Grand Seiko' which are priced up to Rs 15 lakh, within this year. Besides the company also plans bring the 'Ananta' range priced between Rs 1 lakh and Rs 5 lakh this year.
Seiko has been operating in India for the last three years and sells around 253 watch models with prices starting from Rs 5,200 to Rs 60,000 a piece.
