Timex to invest Rs 60 crore this year

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Kolkata, Jul 4 (UNI) Timex will invest Rs 60 crore this year to revamp its products in high end and fashion watch brands.

'' We will focus on retail expansion by setting up more mid-priced to premium international multi-brand outlets in India, in addition to bringing more fashion and luxury brands to the country, '' Timex group India Limited Vice-President, Sales Vikram Arora today said.

Speaking to reporters at the launch of the company's second 'Time Factory' in the city, Mr Arora said the fashion and luxury watch market in the country was growing by 15-20 per cent with influx of various international brands, which prompted Timex to bring in more high and luxury fashion brands in the Indian market.

'' Though the base is relatively small there is tremendous potential of growth besides increased revenues, '' Mr Arora said.

The company at present has more than 62 stores in India with South and West claiming a major bulk.

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