Timex Group India Reports Record-Breaking Growth in Luxury Watch Market

Timex Group India Ltd. (TGIL) announced record growth in Q2 FY25, celebrating 170 years with its highest-ever quarterly revenue of 172 crores. Driven by premium and luxury brand expansion, TGIL reported a 37% increase in revenue over the same quarter last year, with significant growth in online channel performance.

Delhi, India - In a landmark achievement, Timex Group India Ltd. (TGIL) reported unprecedented revenue growth in the second quarter of FY25, marking its 170th year in business. The company saw its highest-ever quarterly revenue, hitting 172 crores and marking a 37% increase compared to the previous year's same quarter.

The remarkable financial performance was highlighted by a 62% growth in Profit Before Tax (PBT) and a 51% increase in EBITDA, reflecting TGIL's operational efficiency. E-commerce played a pivotal role, with an 88% growth, while the luxury segment recorded a 63% increase, driven by rising demand for premium timepieces in India.

Flagship brand Timex led with a 47% revenue growth, while brands like Guess and Versace also posted impressive gains. Managing Director Deepak Chhabra attributed this success to the company's strategy of brand premiumization and channel expansion, reinforcing TGIL's stronghold in the luxury watch market. The company plans to continue its growth trajectory by expanding its product range and retail presence.

(With inputs from agencies.)