Citizen Watches plans to strengthen its brand image in India, considering the growth in affordable luxury segment watches.
Katsusuke Tokura, managing director, Citizen Watches India Pvt Ltd, said that in the affordable luxury segment, there are only a few players and there is demand for more designs.
The company has plans to bring out at least 50-100 contemporary designs and is in the process of introducing them this year, he said. There were collections for trendsetters from a range of all-occasion watches that are fashionable, casual and sporty.
Tokura was here in connection with the opening of an exclusive store at Lulu Mall on Friday.
Asked about the company’s plans to open more outlets as part of strengthening its presence, he said, “Increasing the number of points of sale is not the target but building the brand image is. The idea is to create beautiful shops with aesthetic looks and not growing in numbers.”
At present, the company has 600 points of sale, including 40 in Kerala, he said.
To a question on market share, he said, “We are in a good position with a comfortable growth rate. Now there is a need to strengthen the brand value depending on the customer demand.”
He declined to divulge the sales and revenue figures for the last fiscal.