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Timex Buys France's Opex

Timex Buys France's Opex

Timex Corp., the largest-selling brand in America, recently bought Opex, a French fashion watch brand. Under Timex, the brand will be a wholly owned subsidiary, independent in its choice of design and of retailers, say reports by Opex and by the French Watch, Clock, Jewellery and Silverware Center in Paris.Opex was created in 1991 by chief executive officer Denis Capron and management associate Florence Laterrade. It posted a 1999 turnover of about $5.7 million (40 million FRF). Some 30% of that came from exports. The brand, which retails for about $100, is well represented in Japan, Taiwan, and Western Europe and has been in several U.S. stores for about a year.

Opex will be distributed in the United States, Canada, and Australia by Callanen International, a Timex subsidiary that specializes in manufacturing licensed brands for Timex (including Guess, Nautica, and Timberland).

An Opex showroom was scheduled to open on Fifth Avenue in New York in August.

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