April 15: Timex India has recently entered into a licensing agreement along with Benetton India, a leading fashion brand for designing, manufacturing and distributing Benetton watches across the Indian market.
With the help of its association with Timex, Benetton will be expanding its product portfolio by entering the lucrative watches segment. Benetton and Timex, both expect that this partnership will give them wings to strengthen their footprint and reach in the country.
Under this partnership, the products are expected to launch in the second quarter of the current financial year.
Sundeep Chugh, managing director at Benetton India, in a statement, said, “We hold a robust footprint in apparel and accessories category in the country and this partnership will mark our foray into watches, strengthening our presence towards two of the fastest-growing consumer segments; youth and kids. We are confident of creating a disruptive product range through this collaboration, further elevating our positioning as a lifestyle brand.”
Expressing her take over the agreement, Sharmila Sahai, managing director at Timex India, added, “The company with this partnership aims to strengthen its fashion-forward customer base and widen our product assortments. This partnership will help us increase preference amongst the youth segment across important markets – metros and tier 1, 2 cities.”
Recently Timex has brought Bollywood actor Sidharth Malhotra on board to promote its We Don’t Stop campaign in India. Other than this, in order to expand its e-retailing business, Timex Group had announced a partnership with the retail entity Timehut.