Citizen Watch Co plans to limit the number of watch collections and is offering a one-price policy as part of a campaign to strengthen its brand image in the global market.
Mr Nakai mimics Pakorn ‘Dome’ Lum, a Thai singer-actor and the new presenter of Citizen watches.
James Nakai, director for Asia and Oceania, said Citizen Watch wants to sell its timepieces at the same prices in all countries in the future.
The prices of Citizen watches in Singapore, Malaysia and Hong Kong, for instance, are nearly the same as Thailand's, he said in Bangkok yesterday.
Currently, Citizen watches made in Japan are the same but different import tariffs mean retail prices vary in local markets and this is still one major obstacle for the firm to achieve a one-price policy.
Another strategy to reinforce its global brand image is to make each watch collection available in all countries. "Before, the collections of Citizen watches in the US, Japan, Hong Kong and Thailand are different," he said.
In Asia, the number of each Citizen collection has been cut by one-third down to 1,000 collections in its portfolio and the firm intends to reduce the figure to 600 collections over the next three years. The scheme not only homogenises collections in every market but also makes stock inventory more efficient.
Mr Nakai said that Thailand is one of the company's most important markets in Asia.
It has two factories in the Rojana Industrial Park along with those in China, Japan and Brazil. Only half the space at the factories in Rojana has been used and there is enough space for future expansion.
"Citizen watches have received a strong response from Thai customers in the past half-century and we believe that our business will continue to grow in the kingdom in the future," he said.
The wristwatch market in particular has strong potential and the company has authorised C. Thong Panich Co as the exclusive distributor of Citizen in Thailand for years. Citizen also agreed with the Thai distributor to have actor and singer Pakorn 'Dome' Lum to act as Citizen's presenter for the first time.
The first TV commercial with the new local presenter will go on air in November to promote its new Eco-Drive Super Titanium model.
The distributor is confident that sales of Citizen will grow by 20% this year, the highest growth record over the past five years which it has seen average sales growth of 12-15% a year, according to Vipavan Mahadumrongkul, managing director of C. Thong Panich Co.
Ms Vipavan said that the company is set to spend 20 million baht to promote the Eco-Drive Super Titanium model in the last two months of the year.
Apart from a new presenter, the company also plans to open more multi-brand stores to sell watches under its portfolio next year as well as introduce new watch brands.
About the author
- Writer: Pitsinee Jitpleecheep
Position: Business Reporter