Timex in India
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : BSTR053
Case Length : 13 Pages
Period : 1990 - 2003
Organization : TATA Timex Corp
Pub Date : 2003
Teaching Note :Not Available
Countries : India
Industry : Watches
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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EXCERPTS
Restructuring Initiatives: At The Strategic Level
One of the first major tasks undertaken by Timex as part of the restructuring was the setting up of a strong distribution and service network. By August 2000, Timex succeeded in setting up an impressive distribution network of over 4,500 retail outlets and 31 showrooms (a few set up by Timex and a few on a franchise basis) in metros and other cities across the country, especially southern India.
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Commenting on this, Pratap P. (Pratap) Marketing Manager, Timex Watches Ltd., said "We had to set up our own sales and distribution chain, open branch offices, appoint CFAs, find showrooms and even mobilize manpower." While the above network was being built, Timex also turned to institutional selling in a major way in 1999, following which it received bulk orders from companies, the defense sector and public sector institutions in late 1999 and early 2000. The company customized its watches by engraving the logo and name of the buyer company on the dial and on special packing. In mid-2000, Timex announced that it would gradually reduce its number of models from 600 to 400, and discontinue products that did not find many buyers and had a limited sales off take...
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Restructuring Initiatives: On The Product Front
The second major initiative undertaken by Titan to restructure its operations in India involved the launch of new products. In late 2000, the company launched a new range under the name 'Dress,' priced Rs 3,000 and upwards. Dress included a designer range as well, which was tailored to suit the tastes of Indian customers.
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In mid-2000, as part of its strategy to position itself as a fashion brand, Timex launched 'i-Control,' a new range of fashion watches, priced between Rs 1,600 and Rs 1,900. The i-Control range comprised over 13 watch models including features such as a 50-lap/split memory (ability to store 50 features), chronograph, water resistance to a depth of 100 meters, 24-hour countdown timer and 12/24 hour time and alarm. The fact that i-Control
was launched in India in within three months of its launch in the US
(where it was an instant hit) revealed the strategic importance being
given to Indian operations after the breakup of the JV with Titan. Timex
made a conscious effort to launch products that met the needs of the
younger generation at prices that they could easily afford... |
Excerpts Contd... >>
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