US watchmaker Timex is launching brands

specially designed and developed for the Indian market as the company

looks to cash in on strong double digit growth witnessed in the country,

which is its second largest market after the US.

After launching a special range conceptualised by popular designer

Tarun Tahiliani last year, the company has come up with another brand

-- Helix -- targetting youth.

"Helix watches, priced between Rs 1,400 and Rs 2,500, have been

developed for the Indian market," Timex Group India Managing Director

V D Wadhwa told PTI.

Commenting on the significance of Indian market he said: "India

is the second largest market for Timex globally after the US, with

2.4 million watches sold here every year".

He did not share the global revenues as the Timex Group is privately

held but said the US market contributes about 60 per cent to the

total turnover, followed by India, Canada and the UK.

Wadhwa said the parent company is supporting the initiatives

being taken in India to fuel the growth of business here.

"Until 2009, we have been primarily a single brand company in

India with Timex. But now the portfolio has a host of brands catering

to a wide range of consumers," he said, adding the Indian specific

brands could find their way to other global markets in future.

"The (Helix) brand name has been registered in 60 countries,

which means that it will be launched in markets outside India as

well," Wadhwa said without specifying the timeline for launching

it internationally.

Similarly, the Tarun Tahiliani collection is seeing interest

from markets such as the US, the UK and Middle East.

"We intend to launch the brand outside India in the next 12

months," he added.

In India Timex currently sells watches under brands such as

Timex, Marc Ecko, Tarun Tahiliani, Versace, Helix and Salvatore Ferragamo.

"To support the growth of our business here, we are focusing

on enhancing our brand portfolio and expanding distribution across

platforms like multi-brand outlets, organised retail and exclusive

shops," Wadhwa said.

He said currently Timex watches are sold at 80 franchise run

outlets called 'Timex Time Factory' and the company has plans to

double the number in the next three years.

On the manufacturing front, he said Timex will soon expand the

capacity at its unit located at Baddi in Himachal Pradesh by 30 per

cent from 2.5 million pieces every year, with an investment of about

Rs 50 lakh.