Maxima Quartz, is all set to add two new sub-brands to tap new consumer segments, namely the kids and youth. The company plans to launch in the month of April, a special range for kids and H2O range targeted at the youth segment.
According to the company sources, the kids watches would be water proof and will be priced between Rs 295 and Rs 400. The product will be aimed at children in the age group of four and five years to 10 and 11 years.
The H2O range, will be more contemporary in design. H2O will be in the price range of Rs 425 and Rs 725 and would cut across socio-economic categories.
The company has set aside Rs 5.5 crores for advertising. The new campaign will break in March this year. The company is also eyeing foreign markets with its competitively priced watches.
The company also plans to increase Maxima Brand Shops to 14 from existing two, to cover metros and other B-category cities.
Maxima launched its plastic waterproof wrist watches in 1996. It currently enjoys 12 per cent share of the Rs 1,400 crore organised wrist watch market in India.