Titan gains market in Vietnam

Tuesday, 31 August 2010

Vietnam is proving to be a successful market for Indian watchmaker Titan. It is the third largest brand in terms of volume in this market (estimated to be 70,000 this year), behind Citizen and Casio. Titan entered Vietnam about a year-and-a-half ago. The country has a large population, a rapidly rising economy, and growing brand consciousness. The watch market is dominated by fakes and cheap imports (only 25 per cent is organized).

In Vietnam, Titan is present across 125 multibrand outlets, shop-in-shops in departmental stores and co-operative stores and woos consumers through exchange offers, attractive retail displays and in-store advertising, television commercials and hoardings. Since Vietnamese, like Indians, are value-conscious and do not like to throw away things, the Titan exchange offer last year was an instant success – there was a 100 per cent spurt in sales. This year too sales have grown by 70 per cent over last year. Titan is present in 26 countries across Asia.

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