Watch retailer says time to look beyond Bangkok
Jirada Yohara, a VJ on Channel V, will be the first brand ambassador for Swiss watch brand Balmain, as its importer Ultimate Time hopes she will help build greater brand awareness.
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Ultimate Time, importer and distributor of seven fashion watch brands and a pen brand, is planning to tap markets upcountry, as the proliferation of branded products in the capital is leading to a price war.
The company is adding three more brands (Timberland Watches, Esprit Timewear and Esprit Jewel and MNG) to its current four (Balmain, odm, Edox and Levi's), along with Omas pen, said regional operations manager Felix Yap. He said Bangkok already had too many fashion brands, which had forced many dealers to cut prices to woo consumers. The intense competition has resulted in prices of many brands being slashed 30-35 per cent. Ultimate Time has been trying to dissuade its Bangkok dealers from joining the price war, in order to prevent erosion of its revenues. It also plans to arrange marketing activities with its dealers, to avoid the problem and attract more customers at the same time. Yap said Ultimate Time was aware it would have to work harder to market its brands in major cities like Chiang Mai, Khon Kaen and Phuket. The company plans to appoint more dealers and improve shop decoration and product display. It will focus on heavy marketing activities in those locations later. Yap said provincial markets still had a lot of room for growth, because only a few brands, such as Casio and Swatch, were well known there. This year, it will also bring in the three new brands: Timberland targets men, with prices in the range of Bt4,000 to Bt9,000; Esprit is marketed mostly at women, with prices from Bt3,000 to Bt6,000; and MNG targets women, with prices ranging from Bt4,000 to Bt8,000. All 150 dealers, both in shopping malls and standalones, will have to add the three brands to their shops. Ultimate Time will provide display shelves for showcasing them. At the same time, the company plans to take this opportunity to improve shop decoration nationwide, in order to create a modern look. The budget is set at Bt100,000 to Bt150,000 per shop. The company yesterday unveiled the first brand ambassador for its Balmain watches from Switzerland - VJ Jirada Yohara from Channel V - to accelerate its brand awareness among the target group. Balmain targets mid-range to high-end customers, with prices of Bt15,000 to Bt60,000 on average. It plans to change presenters every three months. Yap said that last year, the company doubled its revenues to Bt80 million. It expects to achieve Bt100 million this year.
Nitida Asawanipont
The Nation
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