Seiko 'targets significant growth in India'

Japanese luxury watch brand Seiko is aiming to more than double its amount of retail outlets in India to 250 within two years.

Seiko currently has 123 high-class shops and boutiques in India - which is a "booming" market, according to the Hindu Business Line.

Several designer watch manufacturers have highlighted Asia - and in particular India and China - as the industry's growth hotspot over the next decade.

Tetsuji Ishimaru, Seiko's managing director, illustrated the importance of the Indian market by telling the newspaper: "Globally, our sales were affected by about 20 to 30 per cent during the recession but sales in India were picking up during that period."

Seiko is targeting up to 30 per cent growth in India as it expands its range of stores.

In December, the Japanese firm praised its Premier Collection, saying it was "an inspiration" which took watch refinement to the next level.