New Delhi: US-based Timex group is betting big on sale of specialized watches and accessories in India and expects it to be amongst its pinnacle three markets globally in the next 5 years.
India is the fastest developing market for the organisation and is already amongst its top five, with salesof Rs 139.sixty four crore last economic year.
“India is the fastest growing market for us. yr after 12 months we’re seeing the class develop in double digits. we are able to cognizance on tech accessories, sports and health and fitness and well-beingsegments. We anticipate India to become considered one of our pinnacle 3 international markets in 5years,” Timex group united states of america Inc chief monetary officer Colin Arsenault informed PTI.
Timex expects percentage of tech add-ons in total India sales to increase to 25 per cent inside thesubsequent three–five years. it’s miles round 15 in line with cent at gift.
“We also plan to relaunch health monitoring product which we discontinued. we will release greatermerchandise in these speedy growing, high capability segments from our global portfolio in India,” Mr Arsenault stated.
The company will also launch an entry–degree top rate watch ‘as opposed to through Versace’ by means of end of this month.
“we can sell versus emblem via select 200–three hundred stores. It is not a mass brand as a result it’llno longer be available in all our stores,” Timex institution India dealing with director Sharmila Sahai said.
Timex products are priced among Rs 995 and Rs 15,000 in India.
The corporation is also searching at tapping speedy growing e-trade channel via launch of its personalwebsite via end of this year.
At present, 10 in line with cent of its sales come from on-line marketplaces which include Amazon.
story first published on: August 09, 2015 17:32 (IST)
Tags: Timex institution, Timex organization usa Inc, Timex organization India, Colin Arsenault, Sharmila Sahai