Hyderabad, April 24:
Timex Group India, subsidiary of the US-based global watch maker Timex Group, is sharpening its focus on the health and wellness category that keeps a watch over the health of its owner.
Having recently introduced a few models from its global portfolio, Timex is betting big on this segment that is on the verge of opening up in India.
After the launch of its timepiece product that can monitor heart rate, the company a few months ago launched another product that can count calories.
“Today, the younger generation in India has become health conscious, increasingly going to gyms and spas. We feel this is the right time to launch this category of watches that goes beyond time keeping,” Mr V.D. Wadhwa, Managing Director of Timex India, said.
He was in the city to launch the company's 100th Indian Time Factory store in Hyderabad and unveil its new Intelligent Quartz range of watches.
The company plans to introduce more models from its global portfolio of health and wellness category of time pieces. “We launched eight of the 70-odd models we have under this category in our global portfolio. We will launch new models in the course of time in India,” he told media persons here.
The new models will be equipped to monitor heart rate and count calories with better accuracy. “In India, the share of this category of watches is still miniscule. But in the US, 30 per cent of our revenues come from this category. We expect the Indian market for these models to pick up to those levels in the next two to three years,” Mr Wadhwa said.
Timex India, which clocked sales of Rs 170 crore in 2010-11, expects a 20 per cent growth in the just concluded 2011-12 fiscal.