The Hindu Business Line : Timex keen on high-end watches

New Delhi April 10 Timex Watches Ltd is all set to increase focus on its high-end watches through its Times Factory retail outlets, which will also feature international brands such as Pierre Cardin, Nautica, Esprit and Opex-Paris.

"We have decided to increase our focus on the premium watches ranging between Rs 5,000 and Rs 20,000. This is a conscious decision on our part, so that people identify our stores as not only for the masses, but also for high society," said Mr Salil Sadanandan, Senior Vice-President (Marketing and Sales), Timex Watches Ltd.

"We will also be focusing on bringing in hi-tech features to watches," he added. It launched its hi-tech watch, E-Tide-Temp, priced at Rs 9,995, on Monday at a mall in the NCR region.

More retail outlets

The company also launched its 40th Times Factory outlet at the same mall. "Our retail programme is gaining momentum with every passing month and the inauguration of this outlet is yet another addition to the growing chain of our outlets across the country. In fact, we plan to put up another 55 stores this year, thereby taking the total number of outlets to 95 by the end of 2007," said Mr Sadanandan.

Revenues up 33%

Timex Watches, for the nine-month period ending December 31, 2006, had reported revenues of Rs 88 crore, an increase of 33 per cent over the corresponding period previous year.

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