A Look at How Seiko is Preparing for Challenges Ahead

p/p pFounded in 1881, Seikoandrsquo;s time-honoured heritage is marked by many andlsquo;firstsandrsquo;andmdash;all of which have contributed greatly to its iconic status. Hereandrsquo;s how the family-run business prepares itself to handle the challenges that lie ahead./p pandnbsp;/p pFor a brand with a history as long as Seikoandrsquo;s, it is a constant challenge to attract each new generation to the brand,andrdquo; shares Shinji Hattori, President and CEO, Seiko, while describing the challenges encountered by the company, whose history dates back to 1881. The Japanese entityandrsquo;s position in the realm of global watchmaking is one of great importance, with numerous landmark technological advancements to its credit. And it all began at the hands of Kintaro Hattori, who founded a watch repair service in Ginza, Japan. He laid the foundation for what has eventually transformed into a clock and watchmaking setup of global repute./p pandnbsp;/p pstrongHouse of Craftsmanship/strong/p pFrom its early days, Seiko strived to chart a course that was different from the rest. It was in 1892 that Kintaro Hattori bought an out-of-function factory in Tokyo to establish Seikosha (in Japanese, seiko means andlsquo;exquisiteandrsquo; or andlsquo;successandrsquo;, while sha means andlsquo;houseandrsquo;). During his tenure at the helm of the business, the company grew; what had started with the repair and sale of second-hand clocks had evolved to include the making of pocket watches, alarm clocks and wristwatches. It was his business acumen and vision that paved the way for Seikoandrsquo;s success. Such was his influence that despite his death in 1934, the family-owned business stayed true to its mission. In fact, it wasnandrsquo;t long before the Japanese manufacturer demonstrated its imagination and innovative spirit through the launch of the Grand Seiko. Even now, decades later, the Grand Seiko has proven to be an icon of functionality and precision, qualities that the company has celebrated through all of its creations; qualities that distinguish Seiko from most other watchmaking brands. Hattori describes it best when he says, andldquo;Since its creation in 1960, the Grand Seiko has demonstrated a consistent commitment to the pure essentials of watchmaking. These are precision, legibility, comfort and durability.andrdquo; Such has been its popularity that Seiko is driven to continually enhance the existing line. He explains, andldquo;As Grand Seikoandrsquo;s popularity grows, we want to express its values in new ways and so we decided to make a new series that was still precise, legible, comfortable and durable, but with a more adventurous sports design. It (Spring Drive Chronograph from the Spring Drive Sports Collection: The Black Ceramic Limited Edition) is a watch that opens up a new market for Grand Seiko and a new chapter in history.andrdquo;/p pandnbsp;/p pstrongThe Quartz Situation/strong/p pWhile the Grand Seiko of 1960andmdash;a fine example of a mechanical watchandmdash;made an impression on many, it was the demand for quartz watches in the 1970s that turned the fortunes of the watchmaking world. It was under the aegis of Shoji Hattori that the company succeeded in presenting the worldandrsquo;s first quartz wristwatchandmdash;Quartz Astronandmdash;on December 25, 1969. The companyandrsquo;s readiness to rise to the occasion and respond to consumer demand was largely the outcome of its structure, which was vastly different from traditional watch setups that specialised in the production of specific components. In contrast, Seiko followed an integrated business model that enabled automated production and assembly, which operated on a continuous basis. This abetted the companyandrsquo;s efforts in meeting the growing demand for quartz watches worldwide, putting them in a dominant position as suppliers of quartz watches./p pandnbsp;/p pThe development of the quartz watch was a truly defining moment for the brand. Besides making its presence known to international players and consumers, the quartz movement set a new benchmark in the criterion for accuracy, while setting into motion the revolution in display technology as well as the automatic system. Eventually titled the kinetic movement, it incorporated the key features of automatic and quartz watches. So while a kinetic watch holds a selfwinding movementandmdash;as seen in an automatic watchandmdash;it is essentially based on the quartz timekeeping mechanism. The development of the Kinetic energy systemandmdash;the conversion of kinetic movement into electrical energyandmdash;marked Seikoandrsquo;s growing interest and focus on social responsibility. This proved to be a fortuitous move as kinetic technology not only showcased Seikoandrsquo;s environment friendly approach, but also lent credence to its innovative ideology. The success of these watches was aided greatly by its understanding that consumers would not be influenced by technology alone./p pandnbsp;/p p style="text-align: center;"/p p style="text-align: center;"emIN 2012, SEIKO PRESENTED ASTRON, THEbr /WORLDandrsquo;S FIRST GPS SOLAR WATCH/em/p p style="text-align: center;"embr //em/p pstrongAt First Light/strong/p pOn the heels of the technological advancement of the kinetic watches, Seikoandrsquo;s Randamp;D team presented Spring Drive, which once again combined the most advantageous elements of two systemsandmdash;mechanical and quartz. By replacing the escapement found in a traditional mechanical movement with equipment that enables it to be regulated by quartz technology, Seiko upheld its reputation for accomplishing andlsquo;firstsandrsquo;. The accomplishments are consistently attributed to its founderandrsquo;s vision, as Hattori adds, andldquo;When I make decisions, I try to take the long-term view in mind. I am helped in this by the vision of my great grandfather, andlsquo;Always one step ahead of the restandrsquo;. There are always day-to-day issues, but what really matters is the long-term health of Seiko and keeping the focus on that is my greatest challenge.andrdquo;/p pandnbsp;/p pstrongThe Future is Now/strong/p pSeikoandrsquo;s biggest challenge, like with most watchmaking companies, is in drawing the interest of the new breed of luxury consumers. And Hattori believes he knows how this can be done. He shares, andldquo;I want Seiko to have a new sense of fun, vitality and excitement and we want to reach out to people in a new, more engaging way. I also want our own people to share this same spirit of fun and excitement in the many Seiko facilities around the world.andrdquo; Using the Astron watch as an example, he illustrates, andldquo;Astron is a beautiful watch, but its real appeal is the sense of wonder that you feel as it adjusts to the exact local time wherever you travel. It uses just the power of light to connect to a GPS signal from satellites 20,000 kilometres up in the sky. Only Seiko can offer this capability and there is a special feeling of pride and excitement that our customers describe to us about their Astron watches. It is watches like Astron that are bringing the new consumer to Seiko.andrdquo; While Seiko understands the appeal of design, it also acknowledges that the modern-day luxury consumer, one who is privy to the possibilities of virtual reality, is keen to immerse himself in the brandandrsquo;s universe. To this end, Hattori says, andldquo;Seiko boutiques are real windows into the Seiko world.andrdquo; With customers being able to experience the rich appeal of the Seiko universe, Hattoriandrsquo;s aim is to bring the excitement of Seiko to more watch lovers./p pandnbsp;/p pstrongMore On andgt;andgt; a href="http://www.luxpresso.com/watches" target="_blank"Watches/a/strong/p

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