Timex to add more to its tally

Looking at increasing its retail presence, Timex India has announced plans of doubling its retail stores over the next 18 months to around 120 and plans to launch at least two lifestyle products early next year. With 68 outlets at present, Timex will spend about Rs 6 crore to add another 52 stores by March 2011. Of these, around 20 will be added in the current fiscal itself taking the total to 88 outlets. Timex, which unveiled a collection of six watches under the Statement Series recently, will launch at least two more lifestyle products in January next year. The US-based watch maker, with global brands like Nautica and Ferragamo, has an assembly unit for Timex watches Himachal Pradesh where it makes about 1.6 million watches annually.