TIMEX GROUP: TIMEX GROUP SWISS LUXURY DIVISION ANNOUNCES APPOINTMENT OF MADALUXE LUXURY GROUP AS EXCLUSIVE USA DISTRIBUTOR OF DESIGNER LABEL TIMEPIECES (VERSACE, SALVATORE FERRAGAMO and VERSUS VERSACE)
January 27, 2017
Plans for Aggressive Marketing Support and Sales Expansion
New York. January 12th, 2017. Timex Group Swiss Luxury Division (part of the Timex Group) announced today that it has appointed MadaLuxe Group as the exclusive US distributor for its luxury brand name watches including Versace, Salvatore Ferragamo, and Versus Versace timepieces.
Timex Group Swiss Luxury Division (www.vertime.com) currently 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 Timex Group Swiss Luxury Division are Versace Watches and Salvatore Ferragamo Timepieces, both based in Switzerland. Together, these two iconic brand names represent the group’s unique position in the marketplace, delivering the best of Italian style and design with the technological know-how of Swiss watch-making tradition. 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.
Paolo Marai, President and CEO of the Timex Group Luxury Division said "We are thrilled to appoint the MadaLuxe Group as our exclusive distributor in the United States, and are confident that the team at MadaLuxe will represent a unique opportunity to strengthen our position in the USA market allowing us a further step in our growth plans."
Mr. Marai, who oversees the Timex luxury Division worldwide, stated that the Division has experienced strong growth since 2004 delivering fashionable styles and the assurance that every watch is backed by the "Swiss Made" label. All products are subjected to rigorous tests and strict controls which are synonymous with production precision and high quality across all the brand names it sells. 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.
Sandy Sholl, CEO of MadaLuxe Group, 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". MadaLuxe Group currently 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, said "Adding the Versace, Salvatore Ferragamo, and Versus Versace timepiece brands to our current portfolio of fashion and luxury clients is a natural assignment for our organization and will leverage our long-standing relationships with many of the world’s most prestigious retailers and e-commerce stores."
Freede indicated that MadaLuxe plans to 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.
About MadaLuxe Group: The MadaLuxe Group (www.madaluxegroup.com) is a global leader in the luxury fashion marketplace. Over the past 30 years it has become North America’s largest distributor of luxury fashion and accessories, working closely with the world’s most esteemed and preeminent design houses. Today MadaLuxe designs, produces, buys, sells, markets and distributes apparel, accessories and home goods from the world’s most sought after luxury and contemporary brands. The company is also an active equity investor, operator and licensee of some of the most influential lifestyle brands across the globe. The group is focused on continuing to diversify its portfolio to encompass every fashion category from contemporary to couture, while aggressively launching new groundbreaking strategic partnerships.