However, the company's main focus going forward will be on Grand Seiko. Shinji Hattori, Chairman and CEO of Seiko Watch Corp., and the architect of the new strategy, wants Grand Seiko to be the new face of Seiko in America, Seiko executives say. (Hattori is also chairman and CEO of Seiko Holdings Ltd., the parent company of SWC. Seiko Holdings reported net sales of the yen equivalent of $2.53 billion in the fiscal year ended in March. Watch sales amounted to $1.32 billion.)

The changes in the U.S. are part of a long-term, Seiko Group plan to become a power player in the lucrative luxury watch market. Hattori wants the company to compete aggressively for market share with Swiss brands in global markets, as it does in Japan. There, Grand Seiko is among the top five best-selling luxury watch brands.

The changes are also a response to a rapidly changing global watch marketplace which, Seiko executives acknowledge, presents SWC with both opportunities and challenges.