Timex has appointed Paul Ruban as brand head and Vice President. Ruban joins Timex from Fossil Group where he was director – planning, APAC and EMEA. Ruban has more than 21 years experience in sales, product, merchandise planning, marketing and brand across diverse categories and brands.
The global watch brand announced just this week that it is back at the 17th edition of TATA IPL with a partnership with Punjab Kings that makes it the ‘official timekeeper of the Kings’. This association will see Timex branding on Punjab Kings with a very prominent logo placement on the trousers.
This partnership with Punjab Kings, is in line with the brand’s strategy to reach out to masses and ride the wave of excitement around cricket.
In a recent interview with Storyboard18, Timex Group President and CEO Tobias Reiss-Schmidt, had said the Indian market holds immense importance for the company, ranking as its second-largest revenue source after North America.
Schmidt said, “From a growth perspective, with a population that continually moves into the consuming class and watch penetration still below 15 percent, there is significant potential for expansion, especially considering that multiple watch ownership is below 5 percent. The market is expansive, growing faster than many others, with traditional watches experiencing an annual growth rate of around 10 percent.”
He added, “Having been a presence in India for over 35 years, our brand enjoys strong awareness, high appreciation for quality and value for money, and robust relationships with trade partners. The alignment of these factors positions us well for continued success in India, with expectations of a growth rate surpassing that of most other markets for the foreseeable future, as has been the case in recent years.”