Titan to launch outlets in Indonesia

Due to rising raw material costs, Titan has increased prices of its watch brands by 5 to 20

per cent from October 1, 2011. The company also plans to launch Titan watches in Indonesia this year and add 40 more Helios stores. Prices of the brands from Sonata to Nebula have been raised by 5 to 20 per cent due to ever-increasing gold rates since most of these watches have gold plated components and brands like Nebula have 18 carat gold along with precious stones in them.

The company is also looking at expanding its multi-brand retail chain, Helios with 40 new additions to its store count by this year. The high-end watch store was launched two years back and currently there are 14 Helios stores in Tier I cities. Out of these stores, about 20 per cent will be owned by the company and the remaining will be managed by franchisees.

Titan also plans to take its watch brands to Indonesia this year. With the launch in South Africa last year, the company now exports watches to 28 countries. Overseas sales contribute around Rs 100 crores to the watch division. It will invest Rs 238 crores this year as capital expenditure in all three divisions -- jewellery, watches and precision equipment.