Titan to launch pens, fragrances, shoes

Thursday, 29 September 2011

Shoes, pens, and perfumes from Titan. The top watch brand from the Tata Group is now looking to enter the luxury lifestyle category with new product lines. It expects to touch a turnover of $3 billion by 2014-15 after diversifying. Titan has become synonymous with watches, jewelry and eye wear in India. Titan, Xylys, Sonata, Tanishq and Fastrack are the brands owned by the Tata Group. Titan was established in 1984 as a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. The company has a world-class studio for designing watches and accessories. In 1995, the company diversified into jewelry under the brand Tanishq to capitalize on a fragmented market operating with no brands in cities. In 2005, the company launched its second jewelry brand, Gold Plus, to capitalize on opportunities in small towns and rural India.

For the year ended March 31, 2011, Titan Industries’ revenue touched Rs 6,521.64 crores. The company’s jewelry business under Tanishq is expected to be worth Rs 10,000 crores by 2014-15 and Rs 100 billion by 2014-15. The aim is to take the share of jewelry up from 5 to 10 per cent. From the watch division, the company hopes to earn Rs 3,500 crores by 2014-15. The eye wear division is expected to break even by 2012-13. The Titan brand architecture comprises several sub-brands: Titan Edge, Titan Raga, Nebula and several other collections like Wall Street, Heritage, Regalia, and the Aviator series.

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