Business Daily from THE HINDU group of publications
Wednesday, Oct 31, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Oct 31, 2007 ePaper | Mobile/PDA Version |
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Marketing
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Brands Corporate - Announcements Web Extras - Watches & Accessories Timex Watches rechristened Timex Group Our Bureau Bangalore, Oct 30 Timex Watches Ltd has been rechristened Timex Group India Ltd “in line with its growth and diversification plans.” Internationally, the Timex Group has a diverse portfolio of brands in the sports, fashion and luxury categories. Apart from the Timex brand, the group has global licenses Guess, Nautica and Marc Ecko, Versace, Valentino and Ferragamo. It also deals with Vincent Berard, an exclusive high-end, handcrafted Swiss watch brand, which the group acquired. Mr Kapil Kapoor, Senior Vice-President , Asia & MD, Timex Group India Ltd, said “I am delighted to formally announce the change in the company’s identity to Timex Group India Ltd which is reflective of the company’s aggressive business growth and diversification plans. The restructuring of the company that accompanies this name change will see us move closer to our ambition of becoming a leader in the lifestyle space in the country.”
Apart from a change in name, the company will be recast along three business verticals, namely, Timex and fashion brands, luxury brands, and jewellery. Mr Salil Sadanandan, Senior Vice-President Marketing & Sales, has been appointed as President for the core Timex and Fashion Brands business. Mr M.K. Bandopadhyay, Senior Vice-President Operations, has been named Chief Operating Officer and will head the Precision Engineering Division, apart from overseeing the manufacturing and supply chain initiatives of the company. According to statement, this change reflects “the increasing alignment of the India operations with the parent group’s business vision and also signals the shift in the company’s strategy from being a single brand single product company to a company with a more diversified portfolio of brands and businesses.” The change in name was formally approved by the board of directors of Timex Watches Ltd in April and then by the members of the company at its annual general meeting in September. More Stories on : Brands | Announcements | Watches & Accessories
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