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Titan launches new exclusive store

Posted on Nov 20, 10:07AM | IBNS

Watchmaker Titan Industries Ltd. Monday launched its 18th exclusive store in Kolkata at City Center, Salt Lake, taking the number of exclusive stores in India to 340 and 57 in the East.

Managing Director of Titan Industries Ltd., Bhaskar Bhat said, "We have designed this store, keeping in mind our emphasis on showcasing our products and collections in the most vibrant manner and providing an enriched retail experience to our customers in Kolkata."

The store, which spreads over an area of 800 sq.ft., not only has the different brands of Titan like Titan, Xylys, Fastrack and Zoop but also offers accessories like eye-wears, bags, belts, wallets, etc.

"We had a turnover of about 2 billion US dollar or Rs.10,000 crore last year. Our watch and accessories growth have been 25pc while jewellery accounts for about 75pc of growth (27pc growth from diamond jewellery alone), with a sales income of Rs.8838.38 crore for the year 2011-12 , registering an overall growth of 35.5pc over last year," informed Bhat.

"Our market share is very consistent since volume wise our share is about 9pc and value wise it is 12-13pc ," he added.

The brand that has an investment plan of Rs.200 crore for the present year and is expecting Rs.11,000 crore sales income this year with about 5 million consumers, and 700 authorized service centers across the country, officials said.

The company has about 186 accessories stores and 116 Fastrack stores, informed officials.

Elaborating on further diversification plans, Bhat said,"We are looking into the unorganized sector like helmets, shoes, fragrance, etc. We have also planned to organize the high end watches section."

"We are also starting online business by unifying the total brand, and the website is about to launch in January, 2013. Though online sales are not that high but our main purpose is to use the site for promotions," said he.