Timex is trying to change its perception as simply an outdoorsy brand — it was to be regarded as a brand serious about improving your sports performance. Timex Group India has launched a new range of watches in India dubbed Heart Rate Monitor (HRM) watches. The watches are specially designed for the fitness-conscious and sports enthusiasts. This is probably the first time ever that such an innovation has been tried out for the Indian consumer. The watches are priced at Rs 3,995.
What makes these watches unique is the feature that can track the calories burned during an exercise routine and the heartbeat of the wearer. The watch provides an accurate heart rate in two formats namely, beats per minute (a unit to express the number of heart beats per unit of time) and per cent of max (it will tell you the percentage of maximum heart beat) and workout information. “The timepiece has features like water resistance up to 50 meters and an Indiglo night light; it has month/date display and a two-year average battery life,” says VD Wadhwa, managing director, Timex Group.
Talking about the new range, Wadhwa says these timepieces have been developed to help marathon runners achieve their best timing. “The best part about these watches is that no chest strap is required and the heartbeats are displayed on the watch with a simple fingertip touch. We have already received a great response,” he adds. To draw the attention of the sport enthusiasts, the company had launched HRM watches coinciding with the Airtel half marathon held in India late last year. The watch was promoted heavily during that event and is now being regularly advertised in lifestyle supplements.
Over the years, Timex has encouraged running and has been associated with marathon running in particular. The brand has been the global sponsor for triathlon competitions worldwide. The brand has taken the initiative forward in India by associating with all the three Gold Label marathons (the Standard Chartered Mumbai Marathon, Bangalore 10K Marathon and Airtel Delhi Half Marathon) as the official timing partner. (To receive the International Association of Athletics Federations’ Gold Label, a race has to meet 14 requirements, such as race organisation, the number of elite athletes participating, media coverage and safety among others.)
In the last two years, Timex has extended its portfolio to seven brands in India, which now includes the mother brand Timex, Salvatore Ferragamo, Marc Ecko, Versace, Nautica, Tarun Tahiliani and Helix. According to the company estimates, Tarun Tahiliani, Versace and Helix have been the most successful recent launches. The company estimates the overall size of the watch market in India at Rs 2,600 crore. Timex group has 21 per cent market share in the Rs 1,000-5,000 price band. The other players in the segment are Titan and Casio.
In the year 2010, Timex group recorded the turnover of Rs 175 crore. The company plans to aggressively expand its retail base across the country in the coming year. It currently has 4,000 points of sale including 88 Time Factory stores in India. The group also plans to launch a host of international brands within the premium and luxury segments in the country.
