Leading watchmaker Timex Group India Ltd said it has been granted manufacturing and distribution rights for Guess and Gc branded watches in the country.
It has sealed a pact with Timex Nederland B. V. for the grant of manufacturing and distribution rights for the Indian market.
"The deal is a significant win for Timex Group India, given the Guess & Gc market share, reach and brand recognition in the fashion watch segment. The power of the Guess & Gc brands will be a great addition for Timex Group India," said the statement.
This partnership will allow Timex Group India to expand its business through the distribution of style-driven product assortments to its fashion-focused customer base.
Sharmila Sahai, Managing Director, Timex Group India said, "We are delighted to announce this partnership. Guess & Gc branded watches are known for providing quality timepieces for fashion-conscious consumers worldwide, and the recognition that these brands have in the Indian market is phenomenal."
She added that this strategic collaboration leverages the strength of the company's retail partner network and allows further expansion of its distribution footprint in the country. The new agreements are effective from January 2022, it added.
Timex Group designs manufacture and markets innovative timepieces around the world. It is a privately held company headquartered in Middlebury, Connecticut with multiple operating units and over 3 000 employees worldwide
Timex Group companies produce watches under a number of well-known brands, including Timex, Guess, Versace, Salvatore Ferragamo, Gc, Furla, Missoni, adidas, Nautica, and Ted Baker.