Timex Group India Limited receives LOI for Guess and GC brand of watches

Timex Group India Limited is in receipt of a letter of intent from Timex Nederland B.V., an intermediate Holding Company, through its Zug Branch which is carrying on the business of Sequel Division as worldwide licensee for Guess and GC brand of watches; for the grant of manufacturing, distribution and licensing rights in respect of Guess and GC brand of watches (the Products) for the territory of India. This will be effective January 1, 2022 subject to entering into legally binding definitive documents for the grant of such manufacturing, distribution and licensing rights for the Products.

Shares of TIMEX GROUP INDIA LTD. was last trading in BSE at Rs. 75.35 as compared to the previous close of Rs. 74.55. The total number of shares traded during the day was 236196 in over 881 trades.

The stock hit an intraday high of Rs. 78.25 and intraday low of 72.75. The net turnover during the day was Rs. 18155824.00.

Source : Equity Bulls

Keywords

TIMEXGROUPINDIALTD INE064A01026 Guess GC WatchesBrand