Industry News

Timex eyeing 30% growth in next fiscal year

India: USA based watch firm, which incorporated their business in India in 1989, is eyeing 30 percent increase in their sales. The company has introduced a new analog smartwatch Metropolitan+ which, the company expects, will help them to step up their sale in the Indian Watch Market. Currently, the Metropolitan+ is exclusively available at Amazon.in.

Company has been continuously introducing new watches in the Indian market particularly smartwatches since last year. India is among Timex’s top five market across the globe and is expecting India to become one of their top three markets in coming years.

According to TechSci Research, the continuous introduction of new watches in the Indian market at reasonable prices is a competitive strategic move by the company to tap the Indian market and thereby, increasing its market share and ultimately, sales. Timex’s new product Metropolitan+ comes with great features like presence of Bluetooth technology to track all day activities etc., and the product has a battery power of 1.5 years, comes at a price which is less than that of the Timex competitor’s product with same features. Thus, Metropolitan+ could turn out to be a game changer for them in the Indian Market.

Mere introduction and innovation is not sufficient, company should also plan to expand its sales network by introduction of new exclusive stores and adding up of small and medium retailers in their distribution and selling channels to increase their presence in the Indian Market.