Seiko to spread its India retail network

Japanese premium watch-maker Seiko has plans to expand

its retail network in India. IT plans to increase its store count to 300 over the next two years through tie-ups with MBOs, apart from launching exclusive stores in nine cities, to take advantage of the booming luxury accessories market in India. Currently the company has 250 retail points in 61 Indian cities. The 130-year-old watch-and-clock company launched its new ‘Ananta’ collection recently with 15 models in the price range of Rs 1 lakh to Rs 5 lakh.

The fragmented luxury watch market is estimated to be around Rs 2,000 crores with Seiko being one of the top premium watch brands along with Tissot, Omega, Tag Huer and Rado. Seiko, which started operations in India in June 2007, plans to soon launch products exclusively catering to the Indian needs and tastes. The firm, the official sponsor for Spanish football club Barcelona, has no plans to rope in a brand ambassador or tie-up with an IPL team or the cricket team in India to promote the brand personality.