Bengaluru, July 8 -- Japanese watchmaker Seiko is sharpening its India strategy for luxury label Grand Seiko, expanding retail presence and betting on rising demand from younger affluent consumers as the country's premium watch market gathers pace.

"We want to make Grand Seiko India the third-largest market for the brand in the world because there is good growth potential in the luxury segment," Niladri Mazumder, president and chief operating officer (COO) of Seiko India, told Mint in an interview.

The expansion comes as luxury watchmakers intensify their focus on India, one of the world's fastest-growing premium watch markets. Grand Seiko is looking to strengthen its position against established rivals such as Rolex, Omega and Patek Ph...