Citizen's exclusive showroom in Bangalore

By Our Special Correspondent

BANGALORE, AUG. 23. Citizen Watches which had underestimated the Indian consumer and had introduced watches that could not be absorbed by the citizens, has now changed its strategy. It has now positioned itself as a provider of outstanding quality watches and design and to make its presence felt in the Indian market. In line with the new strategy, it opened its first exclusive outlet here today. By the end of the year, it will have three outlets and by next year in all the metros.

Addressing media persons, the Managing Director, Citizen Watches, and Chairman, Citizen Watches India, Mr. T. Yamamoto, said Citizen's consolidated global turnover was $3.2 billion making it one of the largest watch companies in the world. Its leadership came from competitive markets such as Japan, Europe, West Asia and the U.S. and now the company enedeavoured to tap the potential markets in China, India and Latin America.

He said the company was working on improving the image of the Citizen brand through the launch of exciting state-of-the-art models such as Eco-drive Vitro, Campanola and Cyber Aqualand.

The Managing Director of Citizen Watches India, Mr. N. Iwata, said the exclusive store called ``First Citizen'' would make available the best watches under one roof. The strategy of the company, he added, was to strengthen its retailing presence. The acceptance of international watches had opened up tremendous scope to provide and sell better quality watches.

The Chennai plant which had an investment of Rs. 20 crores was involved in assembly and import. Citizen Watches India recorded a turnover of Rs. 11 crores last year.

Mr. Chandy Jacob, Senior Vice President, Citizen Watches India, said 90 per cent of the market belonged to the lower segment of watches of below Rs. 1,500. About 30 million watches were being sold every year and the premium segment comprised less than 10 per cent.

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Section  : Business
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