Deals
Citizen Considers Broadening Appeal With $18,000 Watches
- Japan’s top watchmaker looking to grow sales in Southeast Asia
- Sees recovery in demand for mid-range timepieces this year
Citizen Watch Co. is open to acquisitions that could add $18,000-and-up timepieces to its offerings as Japan’s largest watchmaker looks to gain more high net-worth customers.
The company will consider targets in the luxury segment with brands that sell watches at about 2 million yen ($18,300) and above, Chief Executive Officer Toshio Tokura said in an interview at its headquarters in Tokyo. It will also look at labels in other price ranges, he said, specifying that Citizen doesn’t have a timeframe to make any purchases. Tokura said Citizen will keep an eye on developments in the smartwatch segment.