Titan Industries, a Tata group company, has lined up retail plans after raising Rs 127 crore through partly convertible debentures issued in August 2005. The retail expansion initiative would be extended across the brand formats of Titan viz. World of Titan and Sonata. The company also plans to set up a new retail format for its branded accessories besides setting up stores for its womens range of watches, Titan Raga.
The company, which now has 185 World of Titan showrooms, plans to add another 25 this financial year. Similarly, it intends to introduce 36 Sonata stores this year, which will take its total number of outlets to 45.
Also, the branded watch manufacturer is eyeing the branded accessories market. It currently sells watches and eyewear under the Fast Track brand name, and will roll out exclusive Fast Track kiosks and stores in the next six months.
The company expects to sell around 20 lakh watches this year; it is eyeing a sales target of Rs, 1,500 crore for both watches and jewellery by the end of March 2006. It sold around 16 lakh watches last financial year. |
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| Posted : 9/17/2005 |
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