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Trusted watchmaker Timex Group India Ltd. has sealed agreements with Timex Nederland B.V (Sequel Division) for the grant of manufacturing and distribution rights of "Guess" & "Gc" branded watches for the territory of India.
The deal is a significant win for Timex Group India given 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 the Group. This partnership will allow the Group to expand their business through the distribution of style driven product assortments to their fashion focused customer base, further securing credibility among the fashion-conscious youth of India.
"We are happy to announce this relationship," Sharmila Sahai (Managing Director, Timex Group India Ltd.) remarked of the deal. "Guess and Gc watches are known for producing high-quality timepieces for fashion-conscious customers all over the world, and their popularity in India is spectacular. This strategic partnership capitalises on the strength of our retail partner network, allowing us to expand our distribution footprint across the country."
"Through this merger with our Group affiliate, we are thrilled to build a new collaboration for Guess & Gc Watches in India." In the ever-changing Indian market, we look forward to capitalising on the existing appeal and high brand recognition for both GUESS and Gc. This partnership strengthens our business position in India and provides for faster growth thanks to Timex Group India's professionalism and reach in serving important retail partners across the country," says Brett Gibson (President and Chief Commercial Officer, Sequel Division).
The new agreements are effective from January 2022 and aim to deepen the footprint and reach for both parties in the Indian market.
Source - IANS
