Seiko Watch Corporation is a leading Japanese Watch Manufacturer ranked high across the world and synonymous with quality, precision and reliability. Ever since its introduction in the global market the brand has carved out an enviable image and a significant market slice that is steadily growing in tandem with the market growth. In this interview, Mr. Yasuki Fujita Senior Manager – Management Planning Dept. highlights the Grand Seiko 60th anniversary and the brand’s short term and mid-term strategy.
Excerpts for the interview:
Seiko and Grand Seiko pulled out of Basel World 2020, and instead scheduled the 60th anniversary Seiko Summit in March at its headquarters in Tokyo. This is also cancelled due to the Corona virus breakout, what are the presently available alternatives?
Unfortunately in the given situation, we are not planning to hold any global event. However, we are studying the possibility of introducing our new products for 2020 region-wise or country-wise.
How is Grand Seiko celebrating its 60th anniversary?
We are celebrating this special year with two new movements - the Mechanical Hi-Beat 36000 80 Hours Caliber 9SA5 and the Spring Drive 5 Days Caliber 9RA5. Both calibers show the skills and experience Grand Seiko has gained over the past six decades. They are the best ever mechanical and spring drive calibers of Grand Seiko. Seiko lovers can also look forward to novelties from each collection to be released throughout the year. We also have two important announcements: the opening of Grand Seiko Studio Shizukuishi, a whole new studio dedicated to assembling and adjusting mechanical Grand Seiko watches; and the opening of the first Grand Seiko Boutique in Place Vendome in Paris, which will be the largest Grand Seiko Boutique in the world.
How do you summarize Grand Seiko’s journey in watch making over six decades? In your opinion what are the most prominent achievements?
To sum up, Grand Seiko’s 60 years is a journey in pursuit of the essentials for a watch, such as precision, legibility and beauty. Achievements started with the first Grand Seiko in 1960 whose precision met the highest international standards of the time. In 1969, we managed to create what we call V.F.A. (Very Fine Adjusted) which delivers an astonishing monthly rate of +1 to -1 minute per month. In 2004, the first Grand Seiko equipped with our original Spring Drive automatic movement was released, realizing a power reserve of 72 hours. And this year, as we mentioned above, the two new generation calibers will take Grand Seiko forward into the future.
When was Brand Seiko presented to the Middle East Markets for the first time? And how do you evaluate its presence and growth in the Middle East markets today?
We started business with customers in the Middle East in the 1960s. Recently, we are trying to shift our main business from a moderate price range to a middle-high range where our technology and craftsmanship can be fully utilized. Thus, we are focusing on the promotion of Prospex, Presage and Astron. Besides, we started full-scale promotion of Grand Seiko in the Middle East region from 2019. For example, we started opening Seiko Boutiques, we are seriously working on the expansion or upgrade of Grand Seiko/SEIKO shops in the Middle East. However, although the awareness of Grand Seiko/SEIKO is still not very high in this region, we consider this market has a great potential to expand the business of Grand Seiko/SEIKO.
Grand Seiko has an incredibly passionate fan-base among serious watch collectors and enthusiasts around the world. What about the Middle East?
How close is Grand Seiko to watch collectors in the region?
Since we held some events or participated in an exhibition such as Dubai Watch Week, we had much opportunity to exchange opinions with watch collectors in the Middle East region. We are really surprised that we received a really good response from watch collectors in this region. This year, Grand Seiko marks its 60th anniversary and Grand Seiko continues to have a high level of awareness in Japan. After the global launch of Grand Seiko, we gradually increased the awareness of Grand Seiko in Europe, America and other Asian countries. We are pleased that passionate fans of Grand Seiko are increasing among watch collectors in these areas. On the other hand, we have just started promotion of Grand Seiko in the Middle East; we will focus even more on activities to increase the number of passionate Grand Seiko fans in this region.
What is the status of introducing the Grand Seiko to a wider audience? Do you have any plans of opening flagship boutiques in the region?
To be honest, it is true that Grand Seiko is still a niche brand only for watch collectors in the Middle East region. We want to change that and make Grand Seiko brand to be loved by all watch collectors. Regarding flagship boutiques in the region, it is already in consideration and discussions are ongoing.
Grand Seiko participated for the first time in Dubai Watch Week 2019 how do you evaluate this experience? What are the possibilities of participating in other watch and jewellery exhibitions in the region?
Dubai Watch Week had a great meaning because we could officially introduce the Grand Seiko brand and products to customers in the Middle East, especially in UAE. Although customers noticed the Grand Seiko brand through the website or SNS, it seems that it was the first time for them to try on a Grand Seiko watch. If we have an opportunity, we will certainly consider participating in other events or exhibitions in the other countries in the region.
In the past Seiko has collaborated with watch designers like Jorg Hysek and the late Gerald Genta. Are there any similar plans like this in the future?
We don’t deny the possibility. Last March, we released the LX line from Seiko Prospex developed in collaboration with Mr. Ken Okuyama, who is renowned for his work on the international scene, especially in the automobile industry. His creativity and insight can be seen throughout, including the way that light is reflected on the outer case, which is made possible by Zaratsu polishing.
Digital and social media play a significant role in the purchasing decision of a watch. How do you feel about these technologies?
Nowadays, more and more people, especially the younger generation, collects information from SNS, websites and other digital media. To approach this youth population, we have been activating SNS posts as well as live posts during the events. Product wise, Seiko 5 Sports’ special edition inspired by the ‘’Red Special’’ guitar of Queen’s guitarist Mr. Brian May has been much supported by them so far. He was kind enough to upload the watch onto his Instagram account, and we are happy to see all the comments and likes. At the same time, we consider it is also vital not to forget face-to-face contact with customers and the press. Our products, especially the luxury ones, are something that people can only understand when they touch and feel them and when they are demonstrated in person. This is why we are enhancing the Grand Seiko and Seiko Boutique network worldwide.
What are your all-time favorite Top 3 of historic Seiko watch models and your favorites of the current collection?
We would prefer not to answer this question. Favorite collections differ from person to person and each has his or her own favorite choice.
Strategically what’s next for Seiko and Grand Seiko?
For Grand Seiko, we hope to reach out to a wider public with our novelties from the Masterpiece, Heritage, Elegance and Sport collections with each collection’s distinguished designs and characteristics, every design reflecting unique Japanese aesthetics. For Seiko, we will continue offering unique products from Seiko’s three global product brands: Prospex, Presage and Astron. Prospex is our serious sport watch brand; Presage is a made-in-Japan brand featuring Japanese craftsmanship; Astron is the GPS Solar watch which can adjust to the local time wherever on earth.