Seiko Ananta Watch Review
Wednesday - 15 February 2012
In late October, Seiko announced that it would work to increase its presence in India. The plan is twofold: to open more exclusive Seiko outlets all over the country, but also to increase the brand’s presence in stores that feature a number of different companies.
Seiko is represented in India through a subsidiary, Seiko Watch India. Its first boutique was opened very recently in Chennai. Current plans for the company involve opening up to nine other such stores within the next several years. The other outlets, the ones in which Seiko is sold side by side with other luxury watches, could rise to 215 locations by 2011. Currently, there are 155 stores where Seikos are sold.
Seiko is represented in India through a subsidiary, Seiko Watch India. Its first boutique was opened very recently in Chennai. Current plans for the company involve opening up to nine other such stores within the next several years. The other outlets, the ones in which Seiko is sold side by side with other luxury watches, could rise to 215 locations by 2011. Currently, there are 155 stores where Seikos are sold.
Helping to spearhead this expansion will be two of the company’s franchise pieces: the “Galante” and “Grand Seiko” are on the very expensive end, while the Ananta will help anchor the line. The company has been operating in India without these models for the last three years. Prices have ranged from Rs 5,200 to Rs 60,000 for the other models.
The fact that Seiko already has a toehold in India is an important competitive advantage for the firm. India’s high growth rate means that demand for luxury watches will likely to expand at an exponential rate. Time is of the essence in an opportunity that simply is too good to miss.
Products are currently available in approximately 46 towns, according to the company’s Vice-President of Sales and Marketing in India. These are the areas that have been transformed into bustling cities of commerce and industry. Seiko’s growth prospects will likely depend upon continuing to identify and penetrate these locations. Amazingly, the country is becoming rich fast enough that there will be a tremendous capacity to absorb all manner of luxury goods. Seikos will sell themselves, as long as the company’s supply can expand to the level that management has determined.
