Timex Watches to set up 200 retail stores in India

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Bangalore, Timex Watches Ltd said it plans to increase its share in the domestic market by setting up around 200 retail stores in India in next 30 months.

"At the end of this month, we will have at least 45 stores and open four more," Timex General Manager – Marketing Vikram Arora told PTI.

The company is aiming to set up over 200 retail stores, mainly in metros, by the end of 2009 or in next two-and-a-half years. We will expand pan-India, across all geographies. But largely concentrate on the metros," he added.

Arora said the company plans to increase its market share to 30 per cent from the current 22 per cent in the organised quartz watches segment.Timex at present sells its products through a franchisee outlet.

Arora said, "We are clocking a growth of almost 35-40 per cent as compared to the industry growth of 20 per cent. Timex was exploring possibilities to get into strategic areas in India but had no concrete plans as yet."

Source : Economic Times

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