Timex looks to India as global sourcing base

Timex Group India, a subsidiary of US-based watchmaker

Timex Group, is looking at making India as its global sourcing base to reduce manufacturing costs. Currently, it has its global manufacturing hubs in Hong Kong, China and Japan. The official team, who has studied the possibilities for the development has already sent out positive signals to the Timex head-office and would formally make a presentation to the company’s global management in Hong Kong, later this month.

Timex is the only multinational watchmaker to have a manufacturing base in India, with close to 80 per cent of its designs being India-specific. Keeping the appreciating dollar rate against the Indian rupee in mind, the company has decided to take this move. And though India lacks quality-conscious vendors required to support the watch manufacturing in India, Timex would go ahead and make investments in developing that requirement.

In the last two years, Timex has extended its portfolio to seven brands in India, which now include the mother brand Timex, Salvatore Ferragamo, Marc Ecko, Versace, Nautica, Tarun Tahiliani and Helix. The company plans to aggressively expand its retail base across the country in the coming year apart from bringing in a host of international brands within the premium and luxury segments in the country.