Bangalore: Timex Watches Ltd said on 16 april it plans to increase its share in the domestic market by setting up around 200 retail stores in India in next 30 months.
“At the end of this month, we will have at least 45 stores and open four more,” said Vikram Arora, Timex general manager, marketing.
The company is aiming to set up over 200 retail stores, mainly in metros, by the end of 2009 or in next two-and-a-half years, Arora said.
“We will expand pan-India, across all geographies. But largely concentrate on the metros,” he said. The company plans to increase its market share to 30% from the current 22% in the organised quartz watches segment.
Timex at present sells its products through a franchisee outlet. “We are clocking a growth of almost 35-40% as compared to the industry growth of 20%,” Arora said.
He said Timex is exploring possibilities to get into strategic areas in India but had no concrete plans as yet.