The fashion accessories segment is all set to get a fresh impetus. Titan Industries, India’s leading producer of wrist watches, has entered into an exclusive five year sub-licensing arrangement with GVM International Ltd., a member of the New York based Murjani group, to manufacture and market the Summer 2004 Tommy Hilfiger watch collection in India. The Tommy Hilfiger watch collection, comprising over 50 styles for men and women, would be priced between Rs 3,395 and Rs 8,995.
“The Indian fashion scene has always been in tune with international styles and trends. The launch of Tommy Hilfiger watches in India will further maintain our position with the fashion-conscious, self-indulgent, young urban Indian men and women.” said Bijou Kurien, COO, Titan Industries.
“The launch of the Tommy Hilfiger watches takes us one step further towards our goal of introducing the complete Tommy Hilfiger lifestyle to the Indian consumer,” said Vijay Murjani, Managing Director of the Murjani Group. He disclosed that four more Tommy Hilfiger outlets would be opened to add to the present three.
Kurien said that the marketing strategy for Summer collection 2004 will involve the introduction of an entirely new range every three months to ensure that each and every model in the collection is displayed.
Media planning and buying activities for the Tommy Hilfiger Summer 2004 collection will be carried out by The Media Edge, which is currently doing the media duties for Titan. The ad spend of Titan Industries for 2004-05 is pegged at Rs 40 crore, an increase of Rs 6 crore over the previous fiscal year. “We will focus on the niche magazines, as it is a reputed international fashion brand, and rely mainly on the international print campaigns of Tommy Hilfiger. We will just have to put them together,” said Kurien.
The Summer 2004 watch collection by Tommy Hilfiger encompasses the spirit of freedom, American women, American classics and the inevitable Tommy girl. The collection introduces the uniquely styled 4WD category to the freedom collection and features new classics with a refined range like exotic skins and diamonds for women and bold and precise details for men, all with the Tommy Hilfiger signature details.
Tommy Hilfiger, named after the famous designer who is considered a pioneer in mass designer fashion, is a $1.9-billion global apparels and accessories company. Titan Industries markets watches under the Titan and Sonata brand names. The size of the premium fashion-watch industry in India is an estimated 3% of the organized market and is growing at a rapid 30%. Titan has set a target of making and selling over 7 million watches in 2004-05. It reported a turnover of Rs 798 crore in 2002-03. Titan markets its products in 30 countries worldwide. In India it has 163 outlets, called ‘World of Titan Showrooms’, spread across 102 cities.