Japanese watch maker eyes Thailand as vital market in Asia
Japan’s Seiko Watch Corp. is expecting to attract more customers in Thailand, particularly young people, as it seeks to boost sale in the Southeast Asia, Kyodo News reported.
Hanoi (VNA) –
Japan’s Seiko Watch Corp. is expecting to attract more customers in Thailand,
particularly young people, as it seeks to boost sale in the Southeast Asia,
Kyodo News reported.
The ratio of revenue from the Asian market, excluding Japan, is hoped to grow from 20 percent to 25 percent of the total by 2020, said senior executive vice president Minoru Ishiguro, adding Thailand is an important driver because it is the company’s biggest and the most influential market in the Southeast Asian region.
The Japanese watchmaker aims to double sales of its mid-to high-end models in Thailand in the next three years, targeting at “Generation Y” customers, who were born between the 1980s and 1990s, with high purchasing powers.
The medium-priced sport watch Prospex is the key product contributing to the growth of Seiko in Thailand, said Ishiguro, noting that the country is also the fastest-growing market for Prospex.
According to Seiko Thailand, under-500-USD products account for 50 percent of the company’s total sales, followed by models priced from 500-1,000 USD at 40 percent, and the rest being those priced over 1,000 USD. -VNA
The ratio of revenue from the Asian market, excluding Japan, is hoped to grow from 20 percent to 25 percent of the total by 2020, said senior executive vice president Minoru Ishiguro, adding Thailand is an important driver because it is the company’s biggest and the most influential market in the Southeast Asian region.
The Japanese watchmaker aims to double sales of its mid-to high-end models in Thailand in the next three years, targeting at “Generation Y” customers, who were born between the 1980s and 1990s, with high purchasing powers.
The medium-priced sport watch Prospex is the key product contributing to the growth of Seiko in Thailand, said Ishiguro, noting that the country is also the fastest-growing market for Prospex.
According to Seiko Thailand, under-500-USD products account for 50 percent of the company’s total sales, followed by models priced from 500-1,000 USD at 40 percent, and the rest being those priced over 1,000 USD. -VNA
You should also see
PM urges stronger cooperation between Vietnamese, Chinese Ministries of Justice
Prime Minister Pham Minh Chinh has requested the Ministries of Justice of Vietnam and China to foster cooperation and mutual support, making them to be on a par with the height of the bilateral relations.
See more
World
Indonesia’s Mount Ruang continues to emit ash
After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.
World
Thailand gives financial support to Laos for road maintenance
The Thai cabinet has approved 1.8 billion THB (about 48.8 million USD) in financial assistance for the Lao Government to maintain and improve Highway R12, shortening the travel time from Thailand’s Nakhon Phanom province, through Laos, to the Vietnamese border in central Quang Binh province.
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
World
Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
World
Thailand’s EV sales forecast to miss target
Electric vehicle (EV) sales in Thailand may fail to reach the estimate of 130,000 units this year as prices are likely to keep changing, according to Hyundai Mobility Thailand.
