India:Timex will take no time in launching Intl luxury brands!

The Indian masses have gradually taken to the luxury brands and aiming to make the most of this volatile market, Timex plans to introduce premium brands like Ferragamo, Versace and Valentino in the country for expanding its retail presence.
Affirming its future plan, Mr Kapil Kapoor, Senior Vice President of Timex Group Asia Pacific told Fibre2fashion, “We are seeking to introduce these brands to the Indian market in the next one or two years time.”
Under its flagship brand ‘Timex’, the company makes watches for various segments like fashion, sports, outdoor and youth lines. Besides, it also manufactures, markets and distributes a host of other international brands like Guess, Opex Paris, Nautica and Marcecko.
What more can one ask for when the Government also lends its support for the endeavor. Mr Kapil Kappoor asserted, “In order to encourage the luxury segment in India, the Government is examining a reduction in the import duties and relaxing of the FDI cap on various brands which according to the Commerce Ministry will be raised from the present 51 to 100 percent on single brand retail.”
Timex also has plans to expand its prominence in the Indian market by increasing the number of its factory outlets from 59 to 120 by the end of this year.