Timex India will be operating a leaner supply chain in its watch business. Shorter lines are being
devised to cater to consumer preferences for new designs at shorter intervals. The reason: Consumers are looking at watches as an extension of their personality and are changing watches quickly. This has led to shorter life cycles and newer designs. Timex, the Indian subsidiary of the US-based company is also launching a clutch of high-end international brands such as Versace and Ferragamo in India soon.
The company, which has a facility in Baddi in Himachal Pradesh, will focus on retail in a big way since India represents a huge opportunity and Timex’s own facility helps it to be responsive to market needs. Timex’s watches retail through multi-brand outlets as well as its own retail channel Time Factory. There are 69 Time Factory outlets and that will be doubled in a couple of years. The company will invest about $1 million on retail expansion. Timex had entered India following a tie-up with Titan. The partnership came apart in 2000 and since then the brand has branched out itself. Timex claims to have a market share of 21 per cent in the Rs 1,000 to Rs 5,000 bracket.
Timex Group India has one of the most powerful portfolios of brands in the watch industry. Timex, founded in 1854, expanded to become Timex Group, a privately-held company, with several operating units and over 5,000 employees worldwide. With technological innovation and cutting-edge design Timex Group designs, manufactures and markets innovative timepieces and jewelry globally.