Timex to open 130 stores by '07

With a focus on consolidating its retail presence, Timex Watches on Tuesday said it will introduce international brands FCUK and Opex in the Indian market in first quarter next year and would open 130 showrooms by the end of 2007.

"Our main focus at the moment for India is to build our retailing business. We will adopt the franchisee route to set up the 130 stores in the next two years," Kapil Kapoor, vice president, Timex Watches (Asia Pacific) said.

The outlets to be christened 'Time Factory' will have the entire range of Timex products and also the international brands FCUK and Opex, the French range for women, which Timex had acquired couple of years back.

"Test marketing has been done for FCUK, the launch in India will be done in the first quarter of next year," Kapoor said.

Elaborating on the India operations, Salil Sadanandan, vice president, marketing said, "We are adopting a three pronged approach - strengthening the retail base, products launch and scaling up ad spend, maybe doubling it next year from the 12-13 per cent that we spend of our revenues."

"We are looking at doubling our sales turnover in the next three years. Last fiscal it was Rs 83 crore (Rs 830 million)," he said.

The company would focus on the western and northern markets and plans to open an outlet next month in the capital.  The company had recently opened outlets in Bangalore, Chennai, Baroda, Hyderabad and Mumbai.