United Colors Of Benetton and Timex India are partnering to launch an exclusive collection of watches in the Indian market targeted towards men, women and kids.
Timex India will look out at the overall designing, manufacturing and distribution of the watches while Benetton will provide creative inputs as part of the deal. Set to launch in the second half of the financial year, the ‘Timewear’ collection will showcase the core brand ethos of both brands. The collection will comprise contemporary designs, and sustainable options, backed by high-quality manufacturing. The product portfolio for men, women and kids will span across four key categories of Signature, Sport, Iconic and most importantly Social, with an end to end sustainable collection.
Speaking on this strategic partnership, Mr Sundeep Chugh, MD & CEO Benetton India Pvt. Ltd, said,
“We are introducing product diversification to reach out to our consumer with new portfolio
experiences. Indian watch market currently stands at 101 Billion and is expected to grow at a CAGR
of 8-10% in the coming years. However, the category penetration is limited, allowing us to fill a market
gap with a heritage brand like ours. We hold a robust footprint in the apparel and accessories category in the country and this partnership will mark our foray into watches, strengthening our presence towards two of the fastest-growing consumer segments; youth and kids. We are thrilled to be partnering with Timex, a leading global brand of watchmakers, with a lineage of craftsmanship and thoughtful designs. We are confident of creating a disruptive product range through this collaboration, further elevating our
positioning as a lifestyle brand.”
The partnership which is exclusive to the Indian market is a strategic business move for both the brands to deepen the footprint and reach in the country.
Sharmila Sahai, Managing Director-Timex India commented, “With the evolving market dynamics, we
plan to reach out to our fashion consumers with a novel approach. Through this strategic collaboration
with global fashion brand United Colors of Benetton, Timex Group aims to strengthen its fashion-forward
customers base and widen our product assortments. This partnership will help us increase preference
amongst the youth segment across important markets – metros and tier I, II cities by bringing the best of
the craftsmanship, design-oriented, style innovative and reliable fashion watches. Staying true to its brand philosophy, Timex Group in partnership with Benetton will bring authentic fashion to a newer audience by focussing on millennial fashion in a big way.”
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