Timex to open 20 franchised stores in tier I and tier II cities

Timex Group, an Indian based watch maker company is planning to launch 20 franchised stores across the nation in the next fiscal year in tier I and II cities like Guntur, Kakinada, Asansol, Hazaribagh and few more to expand its footprint. The company is also planning to expand its presence in cities like Delhi-NCR region, Pune, Hyderabad, Ludhiana, Ahmedabad, Bengaluru, Chennai, Kolkata and Mumbai.

Presently, the company is operating 70 stores across India, both in kiosks and exclusive brand outlets EBO (The Time Factory format). The company requires an investment of Rs 10 to 15 lakh and an area of 120 sq. ft for Timex kiosk. While for The Time Factory, a franchisee requires an area of 450 to 650 sq.ft and an investment of around Rs 20 lakh.

Timex Group is expecting a growth of 10 per cent in the current fiscal year as against three per cent growth in 2009-10.