National, 18th May 2023: Timex Group, a globally renowned & leading watchmaker, expands its consumer reach in the country by acquiring Just Watches, a reputed Mumbai headquartered Premium Watch Retail brand. With the vision of continuously enhancing the consumer shopping experience by being available where consumer shops and serving them a meaningful range of brands to choose from, this acquisition will provide single stop shop for their consumers for all their watch needs.
Currently operating through 5000 + offline trade stores and key online portals, Timex is one of the biggest brands in the country with an ever-increasing consumer base. Timex has been a category disruptor for almost 170 years globally with very strong collections to offers like Marlin, Waterbury, Q & Fria. Timex Group also has a very strong licensed brand portfolio that caters to a very wide array of consumer needs like Guess, GC, Versace, Nautica, Adidas Originals, Furla, Ted Baker, etc. This makes Timex Group’s product portfolio a match made in heaven for the consumers for whom watches are their style statement.
Just Watches acquisition fits perfectly in Timex’s mission to stay close to its consumer. More than a decade old, Just Watches has been a favourite destination for watch lovers for years. It has successfully delivered an excellent retailing ambiance, constant innovation, and service to its strong consumer base over all these years. Supported by its online shopping platform, Just Watches has been able to truly provide its consumers with an omnichannel shopping experience.
With this deal, Timex India will be taking over all the physical stores of Just Watches and their e-commerce portal – Justwatches.com. Within its core, Timex believes in providing a curated experience for its customer base, which is in complete synergy with the ideology of Just Watches, thus making this acquisition a perfect fit between the two brands.
Through this acquisition, Timex shall be able to establish a deeper direct consumer connect & support them in their online purchase journey as Justwatches.com shall be offering to their consumer base all the brands from the Group including Timex. This move further provides an added edge to Timex India’s retail plans as it provides the loyal consumers of the brand with a plethora of options to select their desired choice of timepiece appealing to their styles.
Speaking on the acquisition, Mr. Deepak Chhabra, Managing Director, Timex India stated, “We are elated to announce our acquisition of Just Watches – this is in line with our future growth plans and hence brings a perfect synergy between the coming together of the two brands. We are confident that the acquisition will provide a wider choice of timepieces to our consumers. Through this business move, at Timex, we are geared up to increase our consumer base countrywide. At Timex, we are focused on becoming a household name that is loved by generations across – from the millennials to the Gen Zs.”
Timex India currently operates 35+ Exclusive Franchised stores under the brand name Timex World. The decision of this acquisition comes at a point wherein Timex India is looking to take their Retail presence & business growth in the country to the next level reinforcing them to be the trusted timekeepers of Indians.
Timex India recently also sponsored IPL defending Champions, The Gujarat Titans team, in its endeavor to reach out to wider consumer base.
