Timex to launch Adidas watches and Philipp Plein products in India
Timex Group India will soon launch Adidas Originals watches and products from German luxury fashion house Philipp Plein in the domestic market, according to the company’s latest annual report.
“The company will soon launch the Adidas Originals watch collection. The new range will combine the watchmaking and design expertise of Timex Group and the inspiration of urban culture from Adidas Originals, while keeping in mind the brand’s commitment to sustainability. he declares.
Additionally, Timex Group India has announced that it will launch the products of Philipp Plein, a brand known for the use of crystals, studs, multicolored plating, military patterns and an innovative combination of precious and refined materials.
Last year, Timex Group and Adidas, a global leader in the sporting goods industry, announced a global licensing agreement.
”The company will further strengthen its brand portfolio by launching popular international lifestyle and fashion brands in India to meet strong demand in the high-end fashion and bridge-to-luxury segments, driven by the upper-middle-class customers and continued affinity for international brands. ,” It said.
Timex said it launched strong fashion brands in India.
”Guess, Gc, Furla, Ted Baker, Missoni, Adidas Originals, Philipp Plein and UCB, will help us increase our market share and give a wide choice to the consumer. Versace and Salvatore Ferragamo will cater to the consumer in the luxury segment,” he added.
In the watch segment, the core analog business will grow with a strong product portfolio and popular brands across the value chain, the company said.
“While Timex will continue to be our primary focus, Helix and TMX will experience exponential growth at the bottom of the pyramid,” he added.
Timex is also experiencing strong growth in technology wearables and will continue to focus on strengthening its domestic technology product roadmap.
Technology-based products such as smartwatches, wristbands and wearables are a growing segment and will increase the overall size of the watch market, according to the annual report.
“With Gen Z being at the forefront of digital and market trends, the company will continue to expand its youth portfolio with trending seasonal launches supported by social media marketing for young digital native consumers,” he said. declared.
The company also said it will continue to focus on increasing its market share in the e-commerce space.
“In addition, we have a clear plan to grow our business in large format stores with enhanced branding, increased consumer engagement and relevant products for this consumer segment. “We will increase the presence of our exclusive stores in Class B and C cities, which will help improve brand visibility, consumer insights, consumer engagement and global collection presentation,” said he declared.
For the financial year ended March 31, 2022, Timex Group India’s operating revenue amounted to Rs 265.54 crore.
At the request of the watch industry, Timex said it would benefit from an increase in the number of aspirational consumers with high disposable income and upscaling in all categories.
Lower-tier cities also have huge growth potential, and consumer demand in these markets has recovered relatively faster after the COVID-19 pandemic was brought under control, he added.
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)