Aiming to specialise in premium watch category, Citizen Watches India, a subsidiary of leading Japanese watchmaker, is considering to withdraw its mid-range collections that fall in the price range of Rs 3,000 to Rs 5,000 by 2009.
The company is planning to increase sales of its leading Eco-Drive range of watches that have the Eco-Drive Technology which makes the watch run on any light, without a battery.
“Currently Eco-Drive Collection contributes about 50 per cent of our total sales. We expect this figure to touch 100 per cent by next two years. For this we are planning to withdraw our mid and low segment watches,” said Ryoshin Tokunaga, marketing manager, Citizen India.
Priced between Rs 3,990 to Rs 39,380, the Eco-Drive collection is endorsed by cricketer Rahul Dravid and actor Kareena Kapoor. Citizen is also planning to pep-up its branding exercises with road show, customer loyalty programme and advertising campaigns.
“In 2008 we plan to invest about Rs 7 crore in our marketing and advertising activities,” Tokunaga added.
Citizen plans to open five new First Citizen outlets in 2008, at present, it retail through 39 outlets across the country. The company is expecting the sales turnover to touch Rs 70 crore in current fiscal against Rs 60 crore witnessed last year.
– Bengaluru Bureau
