How does Timex see India as a market for watches?
The Indian watch market is highly competitive and expected to grow at a double-digit CAGR over the next few years owing to the adoption of product innovation, newer use cases for watches and fashion trends, and the upcoming consumer segments like working females to broaden category target customer base. With the higher internet penetration and increasing adoption of e-commerce, online retailing is becoming a strong distribution channel. With clear signs of category premiumization, we can see vertical specialist MBOS are also emerging as an important channel for consumers.
A watch is now a fashion accessory that is a critical part of dressing up and adds a dash of style to your wardrobe. We are also seeing new consumption trends in the category. Brands introducing collections keeping in mind Indian cultural context and consumer in mind are helping create the culture of multiple watch ownership. In addition to that, while we are seeing category moving towards premiumization, the growth isn't driven by only Tier-1 cities, but Tier 2 and 3 cities as well.
Based on current and future market trends, Timex is actively pursuing opportunities to expand its business growth through the introduction of new products, the right positioning and being available where the consumer is. As a brand, we are committed to delighting our consumers at every interaction point.
Please tell us about your pricing strategy and position in the market.
この記事は Business Of Fashion の June 2023 版に掲載されています。
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この記事は Business Of Fashion の June 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
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