It seems peculiar to those of us in the watch world but, until this year, sales of watches accounted for only 40% of Casio Electronics’ turnover in the UK.
That share has increased to 50% in the latest financial year (ending March 31, 2017) after a strong performance from G-Shock and other brands under the Casio umbrella.
Casio Electronics, which until this year made the majority of its money from calculators, cash registers and business-to-business services, recorded a 2.9% rise in sales to £51.7 million.
In the same 12 months, its watch business increased sales by around 5%, according to Mark Gladwin head of Casio’s Timepiece Division, and now accounts for half of group turnover.
The turnover from watches puts Casio neck-and-neck with Citizen’s performance in the 12 months to December 2016, which also notched sales of just over £26 million (up 2% year-on-year).
