|Paolo Marai, president and CEO of the Timex Group Swiss Luxury Division|
Timex Group Swiss Luxury Division (part of the Timex Group) has appointed MadaLuxe Group as the exclusive US distributor for its luxury brand name watches, which include Versace, Salvatore Ferragamo, and Versus Versace timepieces.
Timex Group Swiss Luxury Division markets designer label brand name watches in more than 65 countries worldwide through department stores, independent specialty retailers and boutiques, as well as primary digital e-commerce retail outlets. At the core of the division are Versace and Salvatore Ferragamo watches, both based in Switzerland. Together, these two iconic brand names represent the group’s unique position in the marketplace, delivering Italian style and design with traditional Swiss watch-making. The Group also distributes Versus Versace and other contemporary fashion brands targeting younger consumers with modern collections that feature current fashion looks and seasonal trends.
Marai, who oversees the Timex luxury Division worldwide, stated that the division has experienced strong growth since 2004 delivering fashionable styles and assurances that every watch is backed by the “Swiss Made” label. The growth of the division has been driven by increased distribution and sales in the Middle East and Asia, as well as a solid performance in Europe and the USA over the last several years, he said.
“The relationship with the Timex Group Swiss Luxury Division is an exciting opportunity for us, and we are honored to represent such iconic luxury timepieces and recognized brands,” said Sandy Sholl, CEO of MadaLuxe Group.
MadaLuxe Group distributes men’s and women’s luxury brands from the most notable European fashion houses. This is the group’s first assignment in the watch category and reflects its ongoing expansion into the luxury brand sector.
Adam Freede, president of MadaLuxe Group, indicated that it will aggressively support the brand portfolio in the United States by focusing on a marketing-communication strategy that positions the brands as the most distinctive yet affordable luxury fashion timepieces available.
Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet, the Forbes website and on Instagram @JewelryNewsNetwork