Timex Group India has been granted the manufacturing and distribution rights for the Guess and Gc branded watches in the country. It has sealed a pact with Timex Nederland B.V for the grant of manufacturing and distribution rights in India, an official statement highlighted.
The deal is a significant win for Timex Group India given Guess & Gc’s market share, reach and brand recognition in the fashion watch segment.
Sharmila Sahai, managing director, Timex Group India, speaking on the deal mentioned, “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.”
The new agreement will be effective from January 2022 and aims to deepen the footprint and reach in India for both the parties.
Timex Group reported a net profit of Rs.11.35 crore in the quarter ended in September 2021 as against a net loss of Rs.3.35 crore in the previous quarter ended in September 2020.
