Titan Industries (TIL), a leading producer and retailer
of watches and jewellery, is 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. Natarajan S, Head (sales and retail), Titan Industries told media at the opening of the second store at Cuttack that the company is planning to open 50 ‘World of Titan’ stores in 2012-13.
The watch division 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.
In Odisha, TIL has six World of Titan stores-three in Bhubaneswar, two in Cuttack and one in Rourkela. It is now looking at places like Jharsuguda, Sambalpur and Berhampur to expand retail footprint.
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. They 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. These products are now being readied for sale for presence in Mumbai and Delhi.