BusinessWire India
Mumbai (Maharashtra) [India], May 7: Timex Group India Ltd (TGIL), one of India's leading watchmakers, part of the US-headquartered iconic Timex Group, has announced exciting results for Q4 and the full fiscal year 2024-25. In Q4 FY25, TGIL registered a remarkable increase of 46%, reflecting significant growth over the same quarter in the previous year. EBITDA grew at a strong double-digit rate of 35%, while Profit Before Tax (PBT) surged by 41%, underscoring the company's operational efficiency and profitability focus.
Building on a series of strong quarters, the company delivered its historic, best-ever annual performance, with total income reaching Rs. 540 crore, marking a high double-digit growth of 28%. The TGIL growth is underpinned by consistent revenue growth, enhanced profitability, the focused strategy of premiumization, aggressive channel expansion, and strategic brand-building initiatives.
Q4 FY24-25 Brand Performance:
* Timex, the core brand, posted robust growth of 44% in the quarter
* Guess sustained steady growth of 25% over the quarter
* Gc recorded higher double-digit growth of 66% over the quarter
* Philipp Plein recorded a spectacular triple-digit growth of 156%
* TMX, the value-segment offering, reported strong traction with 49% growth
Q4 FY24-25 Channel Performance:
* Trade: maintained strong growth at 39%
* E-commerce continues to be a strong contributor with a growth of 29%
* On the back of rising consumer affinity for premium segments, the luxury business continued its momentum with double-digit growth of 11%
* OEM division witnessed a strong performance with 251% growth
* Defense business doubled in comparison to last year
Expressing his delight Mr. Deepak Chhabra, Managing Director of Timex India said, "This has been a truly outstanding quarter and year for Timex Group India Ltd, with a record-breaking growth. I am filled with immense pride and gratitude as we celebrate our quarterly and annual performance. This year, we have not only broken records but set new benchmarks for the future. We are committed to building on this momentum and amplifying brand presence across the length and breadth of the country, and touchpoints right from quick commerce to retail outlets. Consumers' love and loyalty for Timex is inspiring and keeps us going."
FY24- 25 Brand Performance:
* Timex grew by strong 27%
* Guess Watches continued the momentum with 28% growth
* Versace registered a strong 29% growth
* Philipp Plein, the latest fashion luxury brand at TGIL, marked triple-digit growth at 281%
* TMX delivered steady 34% growth
* Other brands also maintained consistent performance throughout the year
The company's channel-first approach delivered exceptional results in the year, with heightened productivity in trade stores, robust e-commerce expansion, and a solid Direct-to-Consumer footprint through shop.timexindia.com and Justwatches.com. As an impetus to build a much stronger and robust new financial year, the brand has strategic plans to venture in Quick Commerce with key partners such as Flipkart Minutes, Myntra Now, and Swiggy Instamart, while progressing toward other potential partnerships with Blinkit and Zepto, strengthening its on-demand availability, and making Timex products more accessible at consumers' fingertips.
As Timex celebrated 170 years of global legacy, the brand's India operations continued to deepen consumer engagement through premium global collections, limited-edition collaborations, and innovative and relatable storytelling with the Waste More Time Campaign. Collaborations with prominent names like Jacquie Aiche, James Brand, Raised by Wolves, Fortnite, and The New Yorker resonate strongly with India's style-forward audience, while the Giorgio Galli S2Ti collection underscored the brand's watchmaking leadership. Throughout the year, TGIL also accelerated growth by expanding its online and offline retail footprint, deeper penetration in quick commerce, and high-impact marketing initiatives, including the IPL association, India Beach Fashion Week partnership, and the Elle fashion gala collaboration. These efforts helped drive strong traction across core and luxury segments, further amplifying the brand's aspirational positioning.
Looking ahead, Timex Group India remains committed to driving innovation, deepening market reach, further enhancing consumer shopping experience, and strengthening its premium positioning in India's evolving watch market.
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