Timex earmarks Rs 24cr for expansion; new collection

New Delhi, Feb 23: Watch-maker Timex has set aside Rs 24 crore for expansion which includes setting up of a manufacturing unit in Himachal Pradesh and opening 120 outlets across the country by next year.

''We have invested Rs 10-11 crore for our manufacturing plant at Baddi in Himachal Pradesh which will be functional in April, while another Rs 11-12 crore will be pumped in marketing and opening around 120 outlets across India by 2008,'' company's Senior Vice President Salil Sadanandan told reporters here last night.

Out of the 120 retail outlets, five would be in NCR, he said while launching Timex's new collection of wrist watches that incorporates features such as temperature, direction and also information about high tides and low tides.

''This is an e-tide temperature watch. Apart from being stylish and sleek, it gives the user the correct temperature, direction and also gives information about high tides and low tides,'' Mr Sadanandan said.

The 12 exciting style models for men in metal (stainless steel), include highly featured products like the retrograde, chronograph alarm with indigo, expedition, e-compass and several other styles of chronograph with indigo.

The new collection is priced between Rs 4,495 and Rs 5,995 and is available at all the 'Time Factory' outlets and leading multibrand watch stores across the country.

UNI