Timex Group India, which launched its 100th outlet here today, will add 40 more stores by the end of the current fiscal.
"The target is to open 40 more 'Time Factory' stores during the next 12 months. With the addition of these new outlets, the count will go up to 140 stores," Timex Group India Managing Director VD Wadhwa told reporters.
The 'Time Factory' is a one-stop destination watch store for mid-priced and premium international brands.
The company, a subsidiary of the US-based global watch maker Timex Group, opened 32 such stores in India during 2011, he said.
The company had a turnover of Rs 175 crore in fiscal 2010-11, Wadhwa said, adding that "The financial result for 2011-12 is being finalised and it is likely to be announced by May."
"Time Factory stores contributed 20% to our revenue," he said.
Wadhwa said 30% of sales in United States came from health and wellness category, which includes watches equipped with heart rate monitor and those that can count calories.
Sales from India in this category are likely to pick-up in the coming years, he added.
In India, Timex sells watches under brands such as Timex, Marc Ecko, Nautica, Tarun Tahiliani, Versace, Helix and Salvatore Ferragamo.
