Timex Group India Ltd (TGIL), part of the American watchmaking conglomerate Timex Group, has recorded its most successful quarter to date. With the company marking its 170th year, TGIL reported an all-time high revenue of ₹172 crores for Q2 FY25, a milestone attributed to strong growth across its flagship Timex brand and the expansion of its fashion and luxury segments. This quarter’s 37% year-over-year revenue increase further cements TGIL’s status in the premium and luxury watch sector.
Beyond revenue, TGIL’s Q2 FY25 figures also underscore its profitability and operational prowess: Profit Before Tax (PBT) soared by 62%, and EBITDA jumped by 51%, both of which indicate robust financial health and operational momentum.
Channel Performance Highlights:
- E-commerce: TGIL saw an 88% growth in e-commerce, leading channel performance.
- Luxury Segment: The luxury watch market remains buoyant, with 63% growth over last year.
- Trade Channel: The trade channel also continued to thrive, achieving a 25% increase year-over-year.
Brand Performance Highlights:
- Timex: The flagship brand posted a 47% revenue growth, driving the overall company performance.
- Guess: This brand achieved an impressive 59% growth in Q2 FY25.
- Versace: Versace watches recorded 56% growth, solidifying its presence in the luxury watch category.
Deepak Chhabra, Managing Director, Timex India attributed these strong results to TGIL’s strategy of “brand premiumisation, channel expansion, and consumer-focused marketing.”
He added, “Timex remains a key growth driver, but we are witnessing exceptional performance in our fashion and luxury segments, with brands like Guess, Versace, Philipp Plein, and Nautica excelling. With our expanded product lineup and strategic retail moves, we are confident this growth trend will continue.”
Product Portfolio Expansion
This quarter, TGIL introduced innovative and exclusive timepieces:
- Pan Am: A vintage-inspired collection within Timex that combines nostalgia with contemporary design.
- Jacquie Aiche Limited Edition: A luxury collaboration that brings exclusivity and craftsmanship to the Indian market.
- Ghostly: A creative release under the Timex global portfolio, adding diversity to TGIL’s offerings.
- Guess Limited Editions: Celebrating Guess’s 40th anniversary with special commemorative models.
Marketing & Consumer Engagement
TGIL reinforced its consumer connection this quarter through the “Waste More Time (WMT)” campaign featuring brand ambassador Ananya Panday, generating strong engagement among younger audiences. Additionally, Philipp Plein leveraged Bollywood star Babil Khan for increased visibility, attracting attention both online and offline.
As TGIL continues its premiumisation efforts, the company plans to deepen its retail footprint, broaden its product portfolio, and seize on India’s rising demand for luxury and premium watches.
ABOUT TIMEX GROUP INDIA LTD:
Timex Group India Ltd (TGIL) designs, manufactures, and markets innovative timepieces, and is part of Timex Group, a privately held company headquartered in Middlebury, Connecticut with multiple operating units and over 3,000 employees worldwide. Apart from Timex, one of the leading watch brands in India, TGIL has a vast range of licensed brands like Versace, Guess, Guess Collection, Philip Plein, Plein Sport, Ferragamo, Nautica, Ted Baker, Adidas, and UCB watches. It retails via over 5000 offline trade stores and key online marketplaces. TGIL also operates over 40 exclusive franchise stores under the umbrella of Just Watches and Timex World.
