Timex Group India Ltd Reports the Best-Ever Quarter in its History with 37% Revenue Growth
25.10.2024 - 08:35:31
Business Wire India
Q2 FY25 Brand Performance
Commenting on the quarter’s performance,said, “Our focused strategy of brand premiumization, channel expansion, and consumer-centric marketing has enabled us to deliver historic revenue numbers this quarter. Timex remains a key driver, but we are also seeing tremendous momentum across our fashion and luxury segments, with brands like Guess, Versace, Philipp Plein, and Nautica performing exceptionally well. With our expanded product portfolio and strategic retail initiatives, we are confident in our ability to maintain this growth trajectory for years ahead.”
Product Portfolio Expansion
In line with its commitment to offering consumers innovative and exclusive timepieces, TGIL expanded its product portfolio this quarter with
Marketing and Consumer Engagement
Marketing focus continued this quarter, with the Waste More Time (WMT) campaign featuring brand ambassador Ananya Panday. The campaign, which has seen consistent engagement across social media platforms, further strengthened Timex’s connection with younger consumers. As Timex Group India Ltd. continues its premiumization journey, the company is poised for continued growth in the upcoming quarters. Brands like Philipp Plein garnered consumer engagement and visibility leading to good reception across online and offline channels led by celebrity activation with Bollywood star Babil Khan. TGIL’s focus will remain on strengthening its retail presence, expanding its diverse product range, and capitalizing on growing consumer demand for premium and luxury timepieces.
About Timex Group India Ltd
Timex Group India Ltd (TGIL) designs, manufactures, and markets innovative timepieces, and is part of Timex Group which is 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.
Timex Group India Ltd (TGIL), part of the renowned American watchmaking giant, reported unprecedented growth for the second quarter of FY25. The company celebrating its 170 years reported its highest-ever quarter revenue of 172 crores driven by aggressive growth in brand Timex and significant expansion across the fashion and luxury brands.
With 37% revenue growth over the previous year’s same quarter, this quarter saw major growth in TGIL’s product portfolio and an aggressive push across both online and offline channels, further solidifying its position in the premium and luxury watch market. PBT (Profit Before Tax) grew by 62%, showcasing the company's strong financial performance, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a significant growth of 51%, underlying TGIL's operational efficiency and market momentum.
Q2 FY25 Channel Performance
With 37% revenue growth over the previous year’s same quarter, this quarter saw major growth in TGIL’s product portfolio and an aggressive push across both online and offline channels, further solidifying its position in the premium and luxury watch market. PBT (Profit Before Tax) grew by 62%, showcasing the company's strong financial performance, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a significant growth of 51%, underlying TGIL's operational efficiency and market momentum.
Q2 FY25 Channel Performance
- E-commerce channel led the charge with a growth of 88% vs the previous year’s same quarter.
- The luxury segment recorded a substantial growth of 63% over the same period last year, showcasing the rising demand for premium timepieces in India
- Trade channel, saw 25% growth, continuing its upward trajectory from the previous year.
Q2 FY25 Brand Performance
- Timex, the flagship brand of TGIL, continued to drive growth on a higher base of the previous year and posted a strong performance with 47% revenue growth.
- Guess witnessed a solid growth of 59% in Q2 FY25.
- Versace, a key luxury brand in the TGIL portfolio, experienced remarkable growth of 56%, reaffirming its stronghold in the luxury segment.
Commenting on the quarter’s performance,said, “Our focused strategy of brand premiumization, channel expansion, and consumer-centric marketing has enabled us to deliver historic revenue numbers this quarter. Timex remains a key driver, but we are also seeing tremendous momentum across our fashion and luxury segments, with brands like Guess, Versace, Philipp Plein, and Nautica performing exceptionally well. With our expanded product portfolio and strategic retail initiatives, we are confident in our ability to maintain this growth trajectory for years ahead.”
Product Portfolio Expansion
In line with its commitment to offering consumers innovative and exclusive timepieces, TGIL expanded its product portfolio this quarter with
- Pan Am, an exciting new addition to the Timex portfolio, offering nostalgic yet modern timepieces
- Jacquie Aiche Limited Edition, a luxury watch collaboration, introduced a touch of exclusivity and craftsmanship to the Indian market.
- Ghostly, a creative and innovative release under the Timex global franchise, further strengthened the company’s position as a leader in quality watchmaking.
- Guess watches celebrate their 40th anniversary with special limited-edition watches.
Marketing and Consumer Engagement
Marketing focus continued this quarter, with the Waste More Time (WMT) campaign featuring brand ambassador Ananya Panday. The campaign, which has seen consistent engagement across social media platforms, further strengthened Timex’s connection with younger consumers. As Timex Group India Ltd. continues its premiumization journey, the company is poised for continued growth in the upcoming quarters. Brands like Philipp Plein garnered consumer engagement and visibility leading to good reception across online and offline channels led by celebrity activation with Bollywood star Babil Khan. TGIL’s focus will remain on strengthening its retail presence, expanding its diverse product range, and capitalizing on growing consumer demand for premium and luxury timepieces.
About Timex Group India Ltd
Timex Group India Ltd (TGIL) designs, manufactures, and markets innovative timepieces, and is part of Timex Group which is 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.
