The recent announcement by Grand Seiko that a separate subsidiary will manage their watch brand in the Asia-Pacific region shows how the world economy has changed. Countries like China, Singapore, Thailand, Indonesia and the Philippines are all growing. Plus Singapore and the Philippines have local watch manufacturing facilities which may be of interest to Grand Seiko long term.
The brand must always be assembled in Japan by hand of course, but not every GS part needs to be made in Japan, which is an ageing country, where younger workers don’t seem keen to spend their days in factories.
Here’s the word:
On October 3, 2022, a new company, Grand Seiko Asia-Pacific Pte. Ltd., will commence operations from its headquarters in Singapore. Its purpose is to provide Grand Seiko with the solid foundation, resources and investment that will ensure its future growth in the region.
The company will be the third such company dedicated exclusively to the marketing and sales of Grand Seiko, following the establishment of Grand Seiko Corporation of America and Grand Seiko Europe S.A.S. It will be a joint venture between Seiko Watch Corporation and Thong Sia Watch (Far East) Co. Ltd.
The creation of Grand Seiko Asia-Pacific will bring decision-making about the implementation of the brand’s strategy closer to the market and allow Seiko Watch Corporation to increase its marketing investment in the brand. In a few months’ time, the new company will also open the very first Grand Seiko Boutique in Singapore at Marina Bay Sands.