Now, if you want to keep track of the right date then here it is. Timex Watches has unveiled its internationally acclaimed Perpetual Calendar Collection through brand ambassador and Australian cricketer Brett Lee in the Capital on Tuesday.
Asked on the reason for foraying into the Indian market with its new collection, Frank Sherer, Chairman, Timex Corp, said, "India has always been a good potential market for Timex. The watch market in India is growing exponentially. This collection has done exceedingly well in the international market and I am sure of its success in India too."
Timex, which captures 35 per cent share of the global watch market, has 22 per cent market share in India, according to a KSA Technopak report on multi brand outlets.
Targeted at youth, Timex Perpetual Calendar Collection offers its customer nine irresistible styles priced between Rs 2, 995 and Rs 4, 995. On the pricing factor, Kapil Kapoor, Vice President, Asia and MD, Timex Watches, said, "Our pricing is 70 per cent lower than the lowest watch available in that category."
Timex, which posted around 15-16 per cent growth in India last year and notched up Rs 85 crore in sales last fiscal, simultaneously launched its new collection in China and Japan as well. The company, however, didn't disclose the sales target for its new collection.
On its association with Brett Lee, Kapoor, said, "Using an international face has always helped us in leveraging our brand."
Brett Lee, said, "I always have loved my association with Timex, I am personally very excited by the fashionable styles and unmatched convenience of new Timex watches."
As far as the distribution is concerned, Timex will be basically looking into franchisee mode and its annual communication budget is in the region of Rs 11-13 crore.
As part of its promotional strategy, the company will be basically looking into TVCs. "Right now we want to focus on electronic media and POS," said Kapoor.
Our typical marketing budget is usually 10 per cent of the topline spend