Signs up with Rahul Dravid
Targets to sell three lakh watches this yearTo invest $3-4 m in two years
NEW DELHI: Japanese premuim watchmaker Citizen on Monday said it would invest about $3-4 million in the next two years to expand its business in India and has signed up cricketer Rahul Dravid as its brand ambassador.
"For the next two years we have earmarked an investment of about $3-4 million for our retail expansion and brand promotion,'' Citizen Watches India Managing Director, Hideaki Nakazaki, told reporters here. He said the company was looking at doubling sales in India from two lakh pieces last year, for which it was on a retail expansion programme.
"Last year, we had a turnover of about Rs. 60 crore. This year we are looking at doubling it. Also, we have set a target of opening 350 retail outlets by the end of the year,'' he said, adding that for this year alone, the company was targeting a sales of three lakh units.
Moreover, the company would be increasing the number its exclusive retail stores to 40 by the end of the year from 27.
"This month itself we are adding three more exclusive outlets,'' he said, adding that the aim was to add one exclusive outlet and three in multi-brand shops every month.
Mr. Nakazaki said Citizen was expecting to have a huge impact on sales after signing up Dravid as its brand ambassador. "In two years of association with him, we are looking to doubling our sales,'' he said. Dravid is the company's second brand ambassador after actress Kareena Kapoor.
Mr. Nakazaki also said Citizen would be increasing exports to SAARC countries, which were worth about $2 million last year. PTI