Timex Watches rebrands itself Timex Group

Globally, the Timex Group showcases a diverse portfolio of brands across the sports, fashion and luxury categories. Other than the Timex brand, the Times Group also markets Guess, Versace, Valentino and Ferragamo, Nautica and Marc Ecko under global licenses.

Timex also does business with Vincent Berard, the exclusive high-end, handcrafted mechanical time piece manufacturer acquired by the group.

Kapil Kapoor, senior vice president for the group in Asia, and managing director of Timex Group India Ltd, formally announced the change in the company''s identity to Timex Group India Ltd. According to Kapoor, the rechristening reflects "the company''s aggressive business growth and diversification plans."

Kapoor says that this re-naming is accompanied by a restructuring exercise that will see the company move closer to its ambition of becoming a leader in the lifestyle space in the country.

The restructuring of Timex''s businesses will see the company reorganise itself along three business verticals, Timex and fashion brands, luxury brands, and jewellery.

Salil Sadanandan, senior VP (marketing and sales) the incoming president of the core Timex and Fashion Brands business, with M K Bandopadhyay, senior VP (operations) taking over the reigns as chief operating officer and as head of the precision engineering division. Bandopadhyay will also supervise the manufacturing and supply chain initiatives of Timex.

The name change was formally approved by Timex Watches'' board of directors in April 2007, with the member approval coming during the company''s annual general meeting this September.