The Hindu Business Line : Citizen to expand distribution network

ENCOURAGED by the high double digit growth it is seeing in the Indian market, Citizen Watches is planning to expand its distribution network and increase its investments in marketing in India.

According to Mr Hideaki Nakazaki, Managing Director, Citizen Watches India, the company is planning to increase its number of exclusive outlets from 26 to about 100 showrooms by the first half of 2008.

"We will be adding about eight more showrooms by this month-end. Our sales have been growing by about 30 per cent every year, with sales surging after we appointed Bollywood actress Kareena Kapoor as brand ambassador", Mr Nakazaki said.

Marketing expenses

Meanwhile the company is planning to invest about $ 3-4 million towards marketing expenses this year against $2 million last year.

It is also mulling the feasibility of appointing a male brand ambassador for the brand.

"The high-end watches segment, that is watches priced at over Rs 5,000, is increasing at over 25 per cent in India helped especially by the growing young population in India. We are looking to grow our sales to $30 million by 2008, from the current $10 million", Mr Nakazaki said.

Wipes off losses

Citizen Watches is also in a healthy financial situation now after having wiped off accumulated losses of about $2 million last year.

Meanwhile, the company is launching newer, more utility based watches.

More Stories on : Channels and Franchises | Watches & Accessories

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page