Titan partners with Amazon to enter US watch market

Titan Co. Ltd has partnered with Amazon.com Inc. to enter the US watch market, a departure from its typical strategy of entering new markets through the traditional brick-and-mortar retail route.
  • The two companies will look at gradually expanding the scope of their collaboration to other markets like European Union & Japan.
  • Under the partnership, Amazon will sell Titan watches through its ‘Global selling Programme’ that allows local merchants from India to sell in other countries.
  • Titan will also launch its range of Fastrack accessories & look at adding other products from its portfolio.
  • E-commerce which is the fastest growing retail channel for Titan, its watches & accessories can expect a contribution of 15-20% from US watch industry which is about $11-12 billion.
  • Titan has chosen 500 models from its eponymous watch brand & its Fastrack youth segment brand for Amazon in the US, priced at $30-$300.
  • Titan which sells its watches in more than 30 countries, with a significant presence in the Middle East has an overall contribution under 10% from exports to sales.
  • E-commerce is growing very rapidly as a retail channel even in some countries where Titan has had a presence for decades.
Source: http://bit.ly/2wEzUqW

 

Leave a Comment

Your email address will not be published.