Timex Group stock hits new high after bagging manufacturing -; distribution rights for Guess -; Gc branded watches in India

11 Jan 2022 , 11:00 AM

Trusted watchmaker Timex Group India Ltd has sealed agreements with Timex Nederland B.V (Sequel Division) for the grant of manufacturing and distribution rights of “Guess” & “Gc” branded watches for the territory of India.

The deal is a significant win for Timex Group India given Guess & Gc market share, reach and brand recognition in the fashion watch segment. The power of the Guess & Gc brands will be a great addition for Timex Group India.

This partnership will allow Timex Group India to expand their business through the distribution of style driven product assortments to their fashion focused customer base, further securing credibility among the fashion-conscious youth of India.

Speaking on the deal, Sharmila Sahai (Managing Director, Timex Group India Ltd.) said, “We are delighted to announce this partnership. Guess & Gc branded watches are known for providing quality timepieces for fashion conscious consumers worldwide, and the recognition that these brands have in the Indian market is phenomenal. This strategic collaboration leverages the strength of our retail partner network and allows further expansion of our distribution footprint in the country.”

“We are delighted to form a new partnership for Guess & Gc Watches in India through this integration with our Group affiliate. We look forward to building upon the existing appeal and high brand recognition for both GUESS and Gc in the ever-dynamic Indian market. This partnership further solidifies our business position in India and allows for accelerated growth through the professionalism and reach of Timex Group India serving key retail partners throughout the country.”, says Brett Gibson (President and Chief Commercial Officer, Sequel Division).

The new agreements are effective from January 2022 and aim to deepen the footprint and reach for both parties in the Indian market.

At around 11:00 AM, Timex Group India was trading at Rs102.30 apiece up by Rs5.8 or 6.01%; after hitting 52-week high at Rs102.90 per piece on Sensex.