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Timex shifts focus from mass to class market

Our Bureau

NEW DELHI, August 2

KEEPING pace with the changing time at the Indian wrist watch mall which has recently seen entry of premium models by some top watch companies in the world, Timex Watches of the US, known more as a mass manufacturer, is now turning focus towards the high -end of the market.

Addressing newspersons at a press conference here today, Mr. Richard J. Masilamani, Managing Director, Timex Watches, said a total of 600 models are being planned by year-end. About 300 of these have been launched in the past seven months alone, he said.

The fresh range of watches are likely to be priced upwards of Rs. 2,000. The range will sport a `jewellery-like' look, and will be part of the Timex `Dress Range'.

Timex's current range straddles price points ranging from Rs. 350-3,000.

``While we cannot disregard the price conscious consumer, we are consciously moving up the price scale,'' Mr. Masilamani said.

On the other hand, penetration is being expanded so as to move down the population strata and tap small cities and towns. Timex brands are currently retailed in 5,500 outlets, against 4,300 three years back.

``Our intent is to penetrate towns with 50,000-plus population,'' Mr. Amir Rosenthal, Chairman, Timex Watches, said.

Timex is currently selling roughly 1.8 million watches, and is projecting a Rs. 100-crore turnover for 2000-01, against Rs. 91 crores last year.

The company expects to begin making financial profits in the year 2001-02. Mr. Rosenthal ruled out the possibility of the company setting up a second manufacturing base, at least till sales cross 6 million units.

However, he said that additional capacities would be added at its Noida unit, which currently has a 3 million units capacity. In value terms, up to 70 per cent of the watches are indigenised.

In terms of market share, Timex occupies the second slot in the domestic quartz watch market led by Titan. The company has a 24 per cent share in the quartz watch market, estimated at 6 million units. It expects to up the share to 30 per cent within two years.

The company today announced the launch of i-Control digital watches. Positioned as `ridiculously easy to use' watches, the i-Control range has been brought to India just a couple of months after being launched in the US.

Pic.:Mr. Richard J. Masilamani, Managing Director, Timex Watches, with Mr. Amir Rosenthal, Chairman, Timex Watches, at the launch of i-Control digital watches in the Capital on Wednesday.

Pic credit:Kamal Narang