Seiko Watch Corp. is hoping to attract more customers in Thailand, particularly young people, as it seeks to increase sales in the Southeast Asian market, according to senior company officials.
The ratio of revenue from Asia excluding Japan is expected to grow from 20 percent to 25 percent of the total by 2020, and Thailand is an important driver because it is the biggest and most influential market in the region, said Minoru Ishiguro, senior executive vice president.
The watchmaker aims to double sales of mid- to high-end models in Thailand in the next three years, seeking to draw more "generation Y" customers with high purchasing power — or those born in the 1980s and 1990s — as they prefer to choose watches from design and functions matching their lifestyle.