May 16, 2021

Benetton and Timex India associate to launch vogue watches to woo youth and children

Vogue model Benetton has partnered Timex India to launch a line of vogue watches for males, girls and children within the Indian market. Below this strategic partnership, Benetton will present inventive inputs as a part of the licensing deal and Timex will spearhead the general design, manufacturing and distribution. With this, Benetton has forayed into the watches phase that’s at present dominated by Tata Group-owned Titan Firm within the nation.

In accordance with Benetton, the collaborative assortment is slated to be launched within the second quarter of this monetary 12 months. The portfolio will comprise sporty to sustainable watches for youth and children.

The Indian watch market is estimated at Rs 100 billion and is anticipated to develop at a compound annual development fee (CAGR) of 8-10% within the coming years.

“The class penetration is nevertheless restricted, permitting us to fill a market hole. We maintain a sturdy footprint in attire and equipment class and this partnership will mark our foray into watches, strengthening our presence in the direction of two of the quickest rising client segments; youth and children,” stated Sundeep Chugh, managing director of Benetton India.

The partnership, which is unique to the Indian market, is anticipated to be a strategic enterprise transfer for each Benetton and Timex to deepen footprint and attain within the nation.

Sharmila Sahai, managing director of Timex India stated, “This partnership will assist us enhance choice amongst the youth phase throughout vital markets – metros and tier I, II cities.”

Timex Group, a privately-held firm headquartered in Middlebury, Connecticut, manufactures watches beneath a number of manufacturers together with Timex, Nautica, Guess, Salvatore Ferragamo, Versace, Ted Baker and Furla.