Watch maker Titan Industries is planning to open 50 more stores of its ‘World of Titan’ retail outlets, besides 50 standalone stores of the recently launched chain ‘Fastrack’ during this fiscal.
“We have big plans to expand our retail network during 2009-10, which would include 50 stores each of World of Titan and Fastrack,” Titan Industries Regional Retail Manager (North) Sanjay Guglani said on the sidelines of an event.
He, however, refused to say anything about the company’s investment plans.
“We currently have 284 exclusive stores of World of Titan, while the Fastrack chain was launched recently. We have two Fastrack outlets, one each in Pune and Bangalore, and the chain is dedicated to our Fastrack brand — one of the three watch brands from our portfolio,” Guglani said.
He said the proposed stores would come up across India, including Tier I and II cities.
Asked about the impact of ongoing economic slowdown on the company’s performance, Guglani said: “We cater to all the segments across the board and so although there has been a slight impact on footfalls, our volumes have not been hurt.”
Titan offers a range of around 2,000 models in the price band of Rs 350 to Rs 1 lakh under its Titan, Sonata and Fastrack brands.
Titan also has license and distribution rights for two global brands — Tommy Hilfiger and Hugo Boss.
The company would also continue to launch new models and collections.
“New launches are a regular feature of our company. We bring out at least one new collection every month, on average,” Guglani said, but refused to specify any details.
Titan had earlier this year launched ‘Zoop’ — a special range of watches for kids. Besides, the company had also come out with the ‘Octane’ collection of multi-purpose watches.
Source: DNA
