Sales target upped by alba, seiko importer

Managing director Purij Mahadumrongkul yesterday said

the firm, the authorised importer and distributor of Seiko and Alba watches, achieved 15-per-cent growth year on year in the first fiscal quarter.

He said sales in the previous period had been driven by the Alba brand, which showed revenue growth of 30 per cent thanks to new collections, while Seiko sales rose 5 per cent.

Earlier, sales of the Japanese Seiko brand were not expected to grow this year, because they did not show an increase in 2007, due to gloomy purchasing sentiment. However, since the Seiko and Alba brands fall in the middle segment, they have suffered less of an impact than has the premium market, he said.

"Consumers shop carefully during an economic slowdown.

If they want to purchase time-pieces, they look for brands that

are worth the money and whose quality can be trusted," Purij

said, adding that Seiko's main products were sports watches,

which could be suitable for many occasions.

This is probably the reason why consumers have switched from high-end timepieces to mid-tier products, thus boosting higher-than-expected sales performance of the two brands.

As for exported Swiss watches, in the first five months of the year, sales of premium timepieces fell 26 per cent, mid-range watches 18 per cent and low-end pieces 10 per cent, he said.

Seiko watches range in price from Bt2,000 to Bt40,000, while Alba pieces go for between Bt2,000 and Bt6,000. Last year's domestic watch market was valued at Bt6 billion, of which Bt2.6 billion was in the mid-tier segment. Seiko is the leader in this segment, with a market share of 23 per cent, based on sales in shopping malls and department stores.

The brand will introduce more than 200 new sports models this year, starting in the Siam Paragon World Watch and Jewellery 2009 exhibition to be held from July 30 to August 16.

Purij added that Seiko (Thailand) would open its first Seiko boutique in The Emporium shopping mall, in line with its Japanese-based parent's policy. The Bt10-million boutique will open in September.