The 12th Timex Factory store has opened in Bangalore. Timex now has 75 Timex Factorystores in 33 cities in India. The company plans to up the number of these stores to 100 in the next 12 months. Its products are available across 3,000 points of sale including Shoppers Stop and Lifestyle. The brand plans to strengthen its retail footprint in Tier II and Tier III markets also. In a bid to grow revenues by 20 per cent this fiscal to Rs 3 billion from last year’s Rs 2.5 billion, the company plans to complete ad spends of Rs 220 million by 31 March 2011. In the past, the brand had been using print and outdoor media for advertising. Since the middle of last month, Timex has started advertising on TV. It also plans to launch email and SMS campaigns shortly.
Moreover Timex is the official timekeeper for the ongoing World Cup. It has had Brett Lee as a brand ambassador in the past. It plans to launch over 400 models of watches across categories by the end of this financial year. Timex has a portfolio of 11 brands spread across various segments from mid premium to luxury. Timex Group designs, manufactures and markets innovative timepieces and jewelry globally. Timex, founded in 1854, has expanded to become Timex Group, a privately-held company, with several operating units and over 5,000 employees worldwide. One of the largest watchmakers in the world, the Timex Group companies include Timex Business Unit (Timex, Timex Ironman, Opex, TX, Nautica, Marc Ecko), Timex Group Luxury Watches (Valentino, Salvatore Ferragamo), Sequel (Guess, Gc) and Vertime (Versace, Versus).