C Thong Panich's general manager Vipavan Mahadumrongkul said the company had set a conservative sales growth target of 10 per cent compared to the usual 15 to 20 per cent over the past nine years.

   "The watch market is experiencing sluggish movement. Sellers are being more careful about what products they offer," Vipavan

said.

   Meanwhile, Innovation Time has suspended its plan to offer for sale a new line of Japanese imported clocks until the third quarter, according to the company's managing director Ingon Diloktharadol.

   However, both companies expect the current unfavourable economic situation to get better next year if a general election is held late this year.

   They believe watch and clock markets still have room to grow.

   C Thong Panich seeks to appeal to what it regards as the middle watch market, targeting "fashionable teenagers" aged 16 and above to first-jobbers aged 25, by introducing a new Italian-style brand at prices from Bt3,400 to Bt6,500.

   Vipavan said the target group continued to spend "in order to update their trend, and the prices are not so expensive".

   The company has seen approximately Bt40 million in sales. She expected the brand to generate Bt80 million in sales within the next six months.

   C Thong plans to open 40 new counters for the watches in shopping malls in Bangkok this year and gradually others in country areas next year, when the watches will also be available to its 500 dealers.

   Meanwhile, it plans to encourage sales through advertising on television and in teenage magazines as well as on billboards, sponsoring events that share the same target group and joining with business partners

such as theatre operators to arrange shared events.

   Although the firm has had to delay its launch plan, Ingon said she was still confident of a launch this year.

   She said the headquarters in Japan was still confident that Thailand was a good place to sell clocks with six-digit price tags because no one else was doing so.

   Ingon said the expensive watches would come in two formats - limited edition

collections and normal models for long-term sales.

   This line will be the most expensive. Ingon said the company usually only had watches priced at Bt400 to Bt60,000.

   The company plans to arrange various events to promote the brand and set up separate sales counters.

   Ingon said the company, with 600 dealers, was still satisfied with its performance and expected to recruit 5 to 10 per cent more dealers.

   The company expects sales to grow 20 per cent by the end of the year.

   The marketing budget for this year is 5 per cent of expected sales.

Nitida Asawanipont

The Nation