Shinji Hattori, president and Chairman, Seiko Watch Corporation, was recently in India for the formal launch of Seiko watches in the country. He met Business Today's Deepti Khanna Bose and discussed his company' plans. Excerpts:
Seiko has formally entered India long after most other international watch brands. Why?
The Seiko Corporation has a policy of not getting into many markets at the same time. We did a lot of research before we decided to enter India. Also, until recently, there were far too many government restrictions. Now, the Indian economy is picking up; so this is the right time to come into the country.
What sort of pricing strategy will you be adopting in India?
We will follow our standard worldwide pricing strategy. Our range will be priced from Rs 25,000-1.75 lakh.
Who is your target customer?
He is 25 to 40 years old, active, fashion- and style-conscious and self-assured. Seiko is a brand of substance, so, irrespective of the price-point, he values it.
What about distribution?
We are very careful and selective about our distributors. We will only stock our watches at retail outlets that are in tune with our image; we will not be everywhere.
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