US watchmaker Timex Group has acquired Indian premium timepiece label Just Watches from Priority Marketing for an undisclosed sum.
Under the agreement, Timex India will take over all the physical stores of Just Watches and its e-commerce site. The company said the acquisition will help establish a deeper direct connection and support them in their online purchase process.
“This is in line with our future growth plans and hence brings a perfect synergy between the coming together of the two brands,” said Deepak Chhabra, MD at Timex India. “Through this business move, at Timex, we are geared up to increase our consumer base countrywide.”
Founded by Shailesh and Manisha Sangani in 2009 with the first store opened in New Delhi, Just Watches retails some 40 brands across more than 70 physical stores, according to the brand website.
Timex India has more than 35 exclusive franchised stores under the name Timex World. The company recently sponsored IPL defending Champion, The Gujarat Titans team.
Timex Group operates through more than 5000 offline trade stores and key online portals, producing watches under several global brands, including Guess, Versace, Nautica, Furla and Ted Baker.
Further reading, Shein is to return to India in partnership with Reliance Retail.
