By Abhya Adlakha
With over 25 years in the horology industry, Niladri Mazumder has been instrumental in establishing Seiko as a formidable presence in India’s premium watch segment. A distinguished MBA graduate from the University of Sheffield, UK, where he earned the Sheffield Insulation Marketing Management Prize, Mazumder’s journey includes a twelve-year tenure with Titan Industries Limited and a unique stint in the music industry with SaReGaMa India.
Under Mazumder’s leadership, Seiko has achieved remarkable growth in India, marking its highest growth rate ever in recent times. The brand has successfully positioned itself across both affordable luxury and luxury segments, with collections like Grand Seiko, Presage, and Prospex resonating strongly with discerning watch enthusiasts. Particularly noteworthy is the brand’s commitment to the Indian market, exemplified by exclusive releases like the Forest Green limited edition timepiece, specifically designed for Indian consumers. The successful launch of Seiko Clocks in India further demonstrates the company’s expanding footprint, bringing 130 years of Japanese watchmaking expertise to Indian homes.
In an exclusive conversation with PEAKLIFE, Mazumder shares insights into Seiko’s remarkable journey in India, the evolving luxury watch market, and the brand’s vision for the future.
How has the year been for Seiko so far?
Niladri Mazumder: It’s been an exceptional year for us, both globally and particularly in India, where we’ve achieved our highest growth rate ever. I’m incredibly proud of what our team has accomplished. While Grand Seiko has been a significant contributor to this success, we’ve seen remarkable performance across our portfolio. Our Presage and Prospex collections have resonated strongly with watch enthusiasts, and the Seiko 5 Sports line has captured a sweet spot in the market – it’s become particularly popular among style-conscious buyers who want more than just an attractive timepiece; they want genuine watchmaking quality at an accessible price point.
I’m especially excited about our recent launches, including our India-exclusive limited-edition Forest Green watch. This piece was a labour of love, designed specifically with Indian sensibilities in mind. The overwhelming response to such regionally tailored products has strengthened Seiko’s foothold and allowed us to connect more meaningfully with our Indian customers.
Could you share some strategies you implemented to establish Seiko as a prominent player in the Indian luxury watch market within just five years?
Niladri Mazumder: You know, our journey in India has been quite fascinating. When we looked at the Indian luxury watch market five years ago, we knew we needed to approach it differently. We started by highlighting what makes Seiko unique: our rich heritage and exceptional craftsmanship. This really resonated with luxury consumers who appreciate authenticity and legacy.
We also made some bold moves in terms of partnerships, collaborating with high-end retailers and luxury lifestyle brands that shared our vision for luxury. But what really set us apart, I believe, was our commitment to creating exclusive collections that celebrated Indian culture. These limited editions weren’t just watches; they were conversation starters that captured the imagination of collectors and enthusiasts alike.
Moreover, while maintaining our core values, we’ve embraced digital platforms and social media to connect with younger watch enthusiasts to build a stronger online community. We’ve found that experiential marketing – letting people experience the artistry and innovation behind our timepieces – has also been crucial. These intimate events have helped us build a community of passionate Seiko advocates who truly understand and appreciate what we bring to the table, and this further helped us foster personal connections with potential customers.
The launch of Seiko Clocks in India was successful. What makes Seiko clocks stand out from its competitors?
Niladri Mazumder: What really sets our clocks apart is the remarkable blend of heritage and innovation. You see, we’re building on 130 years of watchmaking expertise, and that’s not just a number – it’s over a century of perfecting our craft. Our R&D team has been relentless in pushing the boundaries of what’s possible in timekeeping. Each clock we create is a testament to this commitment, incorporating our proprietary technology that delivers exceptional precision and performance. Having said that, Seiko’s mastery of traditional Japanese aesthetics adds an inherently distinctive style.
How do you envision the future of luxury watchmaking in India, and what role do you see Seiko playing in shaping that future?
Niladri Mazumder: Seiko has the unique distinction of having watches in both the affordable luxury and luxury categories. We ensure that as soon as a new product is launched, it’s launched in India immediately. In fact, it’s launched earlier in India than in many other places.
In India, with the economy growing, the definitions of affordable luxury and luxury are ever-evolving. Today’s luxury might transform into the affordable luxury of tomorrow. Internationally, anything above USD 1,000 is considered an affordable luxury and anything above USD 5,000 is considered a luxury. In India, the premium category is above 15,000 INR. Below that there are brands like Titan, Timex, Casio and fashion brands.
India has almost caught on with the rest of the world. The traction in the affordable luxury and luxury categories is huge. The Indian consumer today is one of the most well-versed in the world. Before they buy a watch, they go through a lot of research. Every Indian consumer looks for substance and value in the product.
Sustainability and ethical sourcing have become increasingly important for consumers. How does your brand prioritize sustainability initiatives?
Niladri Mazumder: Seiko is a brand that is renowned for its precision, durability and innovation in the world of watches. Having said that, we have an array of Solar watches that are eco-friendly, low maintenance and highly reliable. These watches do not require batteries and therefore do not contribute to electronic waste. By wearing a Seiko Solar watch, you are reducing your carbon footprint and contributing to a greener planet. Apart from this, we aim to reduce the environmental impact not only of our watch products but also for our catalogues, product packaging and in-store display tools. We are pressing ahead with the digitization of our instruction manuals and warranty certificates to reduce greenhouse gas emissions and waste.
Sustainability extends beyond our products to every aspect of operations. For example, the Forest Green limited edition reflects both craftsmanship and conscious watchmaking—its production incorporates energy-efficient practices and eco-friendly packaging. We’re also digitizing instruction manuals and warranty certificates to cut down on paper use and emissions. Through such efforts, we’re ensuring Seiko remains aligned with consumers’ growing expectations for responsible luxury.
