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Timex launches 'Time Factory' strategy
01 Feb '06
1 min read
Timex Corp, Indian subsidiary of American watch maker has drafted a retail strategy for current year.
Its dual policy would have larger exclusive outlets called 'Time Factory' in major cities and smaller model for tier-two cities.
By the end of this year, company proposes to start 10 new outlets in 10 cities, at the same time, it will increase number of Timex outlets from 6 to around 40 in this year.
As watch sales are increasingly being driven by impulse purchases, company would try to attract young wrists in major cities, said Salil Sadanandan, Vice-President (Marketing), Timex Watches Ltd.
To achieve double-digit growth in watch market, Timex is to double its top line in three years. It had sales of about Rs83 crore in previous fiscal.
The company also plans to launch the FCUK and Opex brands in India from March. While Opex brand will be sold between Rs2,000-5,500, FCUK watches are costlier at Rs4,000-9,000.
Its dual policy would have larger exclusive outlets called 'Time Factory' in major cities and smaller model for tier-two cities.
By the end of this year, company proposes to start 10 new outlets in 10 cities, at the same time, it will increase number of Timex outlets from 6 to around 40 in this year.
As watch sales are increasingly being driven by impulse purchases, company would try to attract young wrists in major cities, said Salil Sadanandan, Vice-President (Marketing), Timex Watches Ltd.
To achieve double-digit growth in watch market, Timex is to double its top line in three years. It had sales of about Rs83 crore in previous fiscal.
The company also plans to launch the FCUK and Opex brands in India from March. While Opex brand will be sold between Rs2,000-5,500, FCUK watches are costlier at Rs4,000-9,000.
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