“We are now shifting our focus more to Gen Y customers, who represent more than 30 per cent of the population in the Kingdom,” Hirumitsu Harumistu Akashi, managing director of Seiko (Thailand), said yesterday.

“Despite earning less than older generations, they’re influenced and linked by trends, peers and online conversation. They are also willing to spend their money on their wishes.”

Seiko (Thailand) is introducing the “Prospex Zimbe” limited watch edition and devoting 10 per cent of its sales to marketing campaigns, particularly via digital media, to reach the so-called Generation Y.

The purchasing power of this group aged 25-45 is even stronger than older customers’ under the current circumstances, Akashi said.

“Our loyal customers are now getting old, so we need to launch a new segment [of timepieces] to attract the new target group,” he said.

Only 1,299 Prospex Zimbes were crafted exclusively in Thailand. They are priced at Bt22,800. That is higher than the price range for its best-selling products, which start at Bt8,000-Bt12,000, but it is affordable for the target customers, Akashi said.

Besides appointing Ananda Everingham, a famous actor and heartthrob, as the first Thai brand ambassador to lure young customers, the company has shifted its advertising strategy to online media on top of using out-of-home media and marketing activities.

The company expects to revenue to spurt by about 10-15 per cent during the introductory phase, which includes the “Siam Paragon Watch Expo” running from July 27 to August 15.

“We also hope that this annual expo can help boost sales in the third quarter after the market last month was very quiet,” Akashi said.

The company expects to see sales rise by at least 10 per cent this whole year. That shows that Thailand remains an important market for the Japanese watchmaker.

“Thailand is the third-largest market after China and Japan,” he said.