Internationally renowned designer watch brand Tommy Hilfiger may soon be sold in India by Titan Industries. The Bangalore-based Titan is set to enter into a strategic licensing arrangement to market Tommy Hilfiger watches in the country.
For Titan, this will be the second alliance with a foreign company, the first being a joint venture with Timex Corporation of the US. Titan parted ways with Timex a few years ago.
Bijou Kurien, chief operating officer (watches), Titan Industries, confirmed the development saying, "We are in talks with the company and plan to enter into a licensing arrangement for selling Tommy Hilfiger watches in the country. We feel that our product portfolio misses high-end fashion brands. Tommy Hilfiger fits in there. The deal will be finalised by next month." The arrangement is likely to be for five years.
Kurien added that the watches would be designed by Titan with approvals from Tommy Hilfiger. Priced between Rs 5,000 and Rs 10,000, Tommy Hilfiger will be positioned against DKNY, Calvin Klein and Espirit, among others.
Kurien also said the company was in talks with leading global luxury watch brands for maintenance and service pacts. Titan has around 600 service centres in India.
Mohan Murjani, a non-resident Indian, owns the rights for Tommy Hilfiger in India. The brand has a presence in apparels, accessories, fragrance, footwear and home furnishings. For apparels, it has entered into a marketing alliance with the Sanjay Lalbhai-controlled Arvind Brands.
In the past few years, many foreign watch brands have entered the Indian market either by setting up subsidiaries or forging distribution alliances with local companies.
The luxury watch market is estimated to be about 10 per cent of the total market for watches in India. The market for branded watches in the country is estimated at about 25 million.
The Swatch group with brands like Rado, Longines, CK, Tissot and Omega claims to have about 80 per cent share in the high-end market.
