Citizen Watches India plans to expand its presence in the country over the next three to five years not only in metros but also in tier-II cities. It will also simultaneously increase its number of multi-brand outlets. Currently, the retailer has approximately 450 retail outlets.
Citizen Watches is present in 24 cities across India and currently has 30 exclusive outlets. The main focus of the brand remains on MBO’s, shop-in-shops, and national chain stores such as Shoppers Stop, Lifestyle, and Pantaloons. Citizen Watches India plans to expand in cities like Mumbai, Delhi, Bangalore, Kolkata, Chennai, Pune, Ahmedabad, Chandigarh, Hyderabad, and Kochi.
The brand recently relaunched its store in Bangalore at Safina Plaza where it also launched its new “Prestige Chronograph” collection. Katsusuke Tokura, Managing Director, Citizen Watches, India said: “More than being a functional time keeper, watches have become fashion accessories even for men. The current size of affordable luxury segment of Indian watch market is approximately Rs 4,000 crore and is expected to double in the next five years and we also hope to double our turnover in the next five years.”
Takeshi Okada, General Manager, Citizen Watches, India, said: “Citizen Watches has become successful in creating futuristic environment-friendly concepts such as Eco-Drive that powers the watch to function anytime and anywhere as long as there is light. Our collections are a fusion of technology and beauty.”
Citizen Watches Japan is a JPY285 billion (US $ 3.5billion) 82 year old company selling watches and allied products in more than 150 countries. Citizen Watches (India) started operations in 1997.
