News and Events July 1, 2003 admin
Industry News – Important Announcement from Seiko
I attended the press conference for Seiko earlier today & their big introduction was a new Kinetic chronograph at one third the price of the current one.
Their really big announcement from Mr Mitome, the president of the company (in response to a question I asked) was that they plan to move the company upmarket and that the Credor & Grand Seiko ranges might well be on sale in Europe & the US within 3 to 5 years.
They are taking the first steps on this route by splitting their dealers in the US & Europe into two groups and creating an elite group of dealers, who will be the only ones allowed to sell the more expensive watches.
The new Kinetic line from Seiko will all have sapphire glasses, no more of the old “Hardlex”.
There is now a book just published in Englsih on the history of Seiko, I was given a copy today & will give more info when I have had a chance to peruse it.
I had the chance to spend over an hour today with almost all of the top people from Seiko, but they will not discuss future watch developments. They will discuss future marketing plans, but I can understand their reticence as they are trying to sell the watches they have NOW, not the ones that might come in the future.