The firm added that this appointment is based on the recommendation of the nomination and remuneration committee.
Deepak Chhabra has been serving as the managing director (MD) of Timex Group India for the past 3 years. With over two decades of diverse and insightful leadership experience in the fields of retail, brand management, strategic business planning, P&L management, sales, and merchandising, he is spearheading Timex Group's business transformation and strategic growth strategy in India.
Before Timex, Deepak Chhabra worked with Tupperware India as MD, where he led the brand's business transformation from being just a direct selling company to a harmonized multi-channel strategy and introduced retail, e-tail, and e-commerce to increase consumer access, which helped the brand achieve a higher market share; also, the transformation from a kitchenware to a complete homeware brand and from largely plastics to a material-agnostic brand.
Deepak also worked with Crocs India as MD for 3 years before moving to Tupperware, where he was instrumental in ramping up business and vastly improving the brand's reach and relevance.
Timex Group India's principal activities are the manufacturing and trading of watches and the rendering of related after-sales service. The company also provides information and technology support services to the group companies.
The company's standalone net profit of Rs 1.94 crore in Q3 FY25 as against a net loss of Rs 1.49 crore posted in Q3 FY24. Total income jumped 27.3% year on year to Rs 119.94 crore in Q3 FY25.