Timex eyes 30% growth next fiscal, launches analog smartwatch

US-based watch firm Timex expects its new analog smartwatch to be a game changer for the company as it targets up to 30% sales growth in the next fiscal.

The company on Tuesday launched Metropolitan+ exclusively on Amazon.in priced at Rs 9,995. After two months, the product will also be sold at the company's over 3,000 points of sales and Timex's 80 exclusive showrooms.

"We are looking at 25-30% growth in the next fiscal... We have launched four smartwatches since last year and this product will be a strong game-changer for Timex. Our new analog smartwatch Metropolitan+ has great features and comes at an attractive price," Timex Head for Sales and Marketing Anupam Mathur told PTI.

The company, which had reported a turnover of Rs 135 crore in the previous fiscal, is looking at closing the current fiscal with sales of Rs 160 crore, Mathur said.

Elaborating on the company's plan to expand its sales network, he said: "We are looking at increasing our exclusive store count to 100 by end of 2016 and also add more smaller retailer to sell our watches."

The Metropolitan+ uses Bluetooth technology to connect with phone and track all day activity steps, distance and calories. It claims to have a battery power of 1.5 years (18 months).