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E-tailing giant Amazon today announced its partnership with India's iconic lifestyle brand Titan to help them foray into the US market.
Under the partnership, Amazon through its 'GlobalSelling Programme' will enable Titan take its vast range ofwatches to millions of global customers across ethnicities onAmazon.Com in the US and eventually across other Amazon marketplaces.
"We are very excited to take Titan to US and soon to all market places and Titan will be using our flagshipproduct 'Fulfillment by Amazon' so that Titan can sell alltheir products to our FC (Fulfillment Center) and it isavailable for one day or two day shipping in US," Amazon IndiaDirector & GM- Seller Services Gopal Pillai told reportershere.
He said Amazon would also look at expanding the partnership to other markets like U.K., Germany and other European Union countries, as also Japan.
Titan said as the first step it would enter theU.S. market with about 500 handpicked models from its Titan and Fastrack brand of watches, with the price range of USD 30 to USD 300.
Stating that there has been no formal discussion on exclusivity with Amazon, the company officials said Titan has no stand alone brick and mortar store in the US.
Claiming that one Titan watch is sold somewhere under the sun every three seconds,Titan Company Limited CEO-Watches and Accessories S Ravikant said the U.S. Is a big market and "we are taking our first step."
Noting that e-commerce is the fastest growing channel for Titan and US is a very matured market, he said "we have also been receiving enough signals in the last few years of people in US, not just NRI's wanting to buy Titan."
Titan has over 200 million customers and 7,000 retail stores spread over 30 plus different countries.
Titan officials also said it has plans to sell accessories and also jewelries over a period of time, once they study the market.
Launched in India in May 2015, Amazon's Global Selling Programme facilitates easy, simple and convenient access for all Indian sellers - including entrepreneurs, SMEs, manufacturers as well as large brands - to sell their productsto consumers across the globe.
Amazon said its Global Selling Programme is gettinga lot of momentum, having started the programme two years agowith few hundred sellers; today it has more then 23,000sellers listing 65 million products in 10 different marketplaces.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)