Indiantelevision.com Team

(22 February 2007 5:00 pm)

MUMBAI: Citizen has roped in Bollywood actress Kareena Kapoor for the launch of Kareena Diamond Collection and Kareena Fashion Collection of watches.

Citizen also plans to expand its retail presence in India, increasing the number of retail outlets to 100 from 37 and have a presence in more than 500 MBO's by end of this year.

Speaking on the company's plans Citizen Watches (I) Pvt. Ltd managing director Hideaki Nakazaki said, "We currently have 37 First Citizens (Citizen's Exclusive Showrooms) and more than 300 Citizen Corners (Multi-Brand outlets) across the country. As a part of our retail expansion, we plan to extend the number of First Citizen's to 100 by end of 2008 and to have presence in more than 500 MBO's by end of this year. Our next immediate First Citizen launches will in cities like Varanasi, Hyderabad, Agra and Lucknow amongst many others."

Forever Diamonds is an exclusive diamond collection with a stylish and ethnic look and priced in the range of Rs. 7290 - Rs. 24,680. While The Kareena Fashion Collection is a range of chic and futuristic watches for the teenage girl moving into womanhood and will be available in various designs and styles with gold finish, bracelet styles, metallic, solid coloured and lush leather straps. This collection will be priced between Rs. 4,690 to Rs, 13,500.

Citizen entered India in 1998 with the Eco - Drive light powered watches and since then, it has grown from unit sales of 100,000 and sales value of Rs. 220 million in 2003-2004, to an estimated 240,000 and Rs. 600 million in 2006-2007, a 172 per cent value growth in the last three years. They plan to invest heavily to ensure an annual growth rate of 30 - 40 per cent, in the forthcoming years.