Timex has decided to increase its advertising budget by 30 per cent this year. The advertising expenditure for Timex this year is Rs 11 crore. With its concentration now on the Rs 1,000 to Rs 5,000 bracket, Timex will now be looking to promote the brand through sports and fashion events.
Timex will be focusing on cricket, marathon and triathalon. The company had earlier sponsored the lefties versus righties cricket match last year in India. It is now seeking to organise a similar match internationally. The match between lefties and righties will be held next year in England and will have players from all over the world.
Currently, Timex has tied up with Wisden to develop a cricket-oriented programme to be aired on television. Meanwhile, negotiations are currently on between the two companies for further collaborations for ground activities.
The promotional activities are expected to help Timex beat the current slowdown in the watch industry. In spite of the present conditions, the company claims to have increased its market share to 22 per cent within the past few months.