With an influx of Rs15 crores, Timex Watches Ltd, one of the largest watch brands of the US is positioning a world-class facility in Baddi in Himachal Pradesh to begin manufacturing by March 2007.
Initially, it will have a capacity of 1.5 to 2 million watches, subsequently it will be raised and the existing facility at Parwanoo would be merged with the Baddi.
Timex recorded a growth rate of 50 percent in the last quarter and is planning to open 40 outlets by the end of this year to tap the growing demand.
Company further plans to open another 120 stores by next year and at least eight out of them would be located in Punjab, Haryana and Chandigarh.
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