Titan eyes India and overseas expansion

Watch, jewellery and eyewear brand Titan Industries is eyeing

major retail expansion by launching stores in India as well as overseas destinations like Vietnam, Singapore, Malaysia, South Africa and Saudi Arabia. Titan is looking at launching 225 watch and accessories stores, 55 jewellery stores and 45 eyewear stores this fiscal, via franchise and company owned stores. The company is also planning to launch 50 new ‘World of Titan’, chain of retail outlets across the country by end of 2012-13. This would be over and above the company’s pan-India network of 337 stores spread over 129 cities.

The watch division of the company is expecting 24 per cent sales growth target for the current financial year riding on the success of brands under its umbrella like Titan, Fastrack and Sonata, which enjoy 70 per cent market share in the country. The company has achieved Rs 8,838.38 crores sales income from watch and jewellery divisions in 2011-12, registering growth of 35.5 per cent.

As a part of its product extension strategy, the company is also considering expanding its range by adding leather accessories such as clutches, belts and tri-folds for women to its existing product portfolio. The plan to enter leather accessories for women comes a few months after it launched leather accessories such as wallets and belts for men in select cities across south India.