Financial Daily from THE HINDU group of publications
Thursday, May 06, 2004
Financial Daily from THE HINDU group of publications Thursday, May 06, 2004 |
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Marketing
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Retailing Timex to boost retailing with more shop-in-shops Our Bureau
Chennai , May 5 TIMEX Watches plans to open 140 more of its Club Timex shop-in-shops and a few more exclusive stores this year, in an attempt to give a big push to retailing. The company, which until now has 62 shop-in-shops, will also take the number of its exclusive outlets to 30, its Vice-President (Sales & Marketing), Mr V.D. Wadhwa, told Business Line. The expansion plans will be largely restricted to metro cities, and will cost Timex over Rs 2 crore ("half-a-million dollars"). Most of the new introductions this year will be in the Rs 1,000-2,000 segment. Timex is currently test-marketing the FCUK brand of luxury watches at Shopper's Stop in Malad, Mumbai, and will launch it by June. The FCUK brand, which would be available in the price range of Rs 5,000 and Rs 10,000, will be targeted at the youth. The company is also "seriously contemplating" extending its contract with Aussie cricketer Brett Lee. The contract comes up for renewal in December this year but the "overwhelming response" that Timex's brand ambassador in India has elicited has contributed to this line of thought, he said.
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