Titan’s watch earnings to zoom

Driven by new designs and network expansion, Titan Industries is expecting the

turnover from its watches division to hit Rs 3,500 crores by 2014-15. That’s a three-fold hike from its current turnover. Titan is the world's fifth largest watch manufacturer and manufactures 12 million watches every year. The company also expects its eyewear division to break even by 2012-13. Titan is also looking to expand its eyewear and accessories business with 177 stores by getting into new sub- categories. The eyewear range consists of Fastrack eyewear and sunglasses, as well as prescription eyewear. Besides with the rise in gold prices and anticipated potential impact on its volumes, in the medium term Titan aims to work around the price points by offering lower caratage jewellery (18c, 14c etc) to create purchasing opportunities.

For Tanishq Jewellery, Titan will concentrate on opening large format stores for better inventory turns and breaking even in less than two years. The company has over 300 exclusive World of Titan showrooms and over 650 after-sales-service centers. Titan Industries is also the largest jewelry retailer in India with over 120 Tanishq boutiques and Zoya stores, over 29 Gold Plus stores and over 150 Titan Eye+ stores. The company aims to get into new verticals every second year and this year it plans to enter into two new categories -- silver watches and helmets.