The Hindu Business Line : Titan to set up facility in Himachal; launches sunglasses

TITAN Industries today said that it is aiming to achieve over 19 per cent growth in sales turnover this year at Rs 1,150 crore, fuelled by its jewellery business (under the Tanishq brand).

To take advantage of the excise benefits offered in Himachal Pradesh, Titan has decided to set up a watch manufacturing unit in the State.

Titan has earmarked a Rs 14-crore investment in the current fiscal, Mr Bijou Kurien, COO, Titan Industries, said. The new unit will have a production capacity of two million watches per annum.

At present, Titan has manufacturing/assembly units located in Hosur (Karnataka), Ooty (Tamil Nadu) and Dehradun (Uttaranchal).

Titan today also launched sunglasses under the FasTrack brand in the price range of Rs 695 - Rs 1,995.

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