The Hindu Business Line : Titan to increase thrust on prescription eyewear

New Delhi, Aug. 28 After watches and jewellery, Titan is consolidating its presence in the prescription eyewear segment. Besides increasing its store presence across the country from nine to 200 by 2010, the company is also looking to introduce premium brands.

“We are in talks with an Italian brand for introducing a premium range in India. The range will be in Rs 5,000 plus bracket and we hope to attract consumer traffic in this segment as well,” Mr S. Ravi Kant, Chief Operating Officer – Eyewear business, told Business Line.

He said the Titan Eye+ stores will sell a host of frame from the company besides international range. It will also retail lenses, contact lenses and sunglasses.

The company has also tied up with several international vendors for the manufacture of spectacle frames and with Essilor and Kodak for lenses.

Titan sources lenses from the Indian manufacturing facility of the French plastic lenses major, Essilor, and processes them to market through its outlets. It has its own brand of sunglasses ‘Fastrack’.

Speaking on the Titan Eye+, Mr Ravi Kant said stores would have over 1,000 styles. The company has also roped in the services of Chennai-based eyecare hospital Sankara Nethralaya to impart training to its personnel. “The retail outlets will also provide a host of services such as eye check-ups and style consultancy,” he added.

On investments, he said the company will be investing around Rs 3,000 per sq ft. A typical Titan+ store will entail an area of 1,200-1,500 sq ft.

The total eyewear market in India is about Rs 1,500 crore of which only about 10 per cent is in the organised segment. The market is growing at a rate of 15 per cent per annum.

“We are hoping to capture about 20 per cent of the market in the next 3-5 years,” he added.

Glasses under the Titan Eye+ brand will start at Rs 400. The company is also creating a special brand for children called Titan Dash, glasses under which will start at Rs 395. Frames bearing the Titan brand will start at Rs 950. Dash had earlier existed as a watch brand for children. It will also sell frames under brands Elle, Vogue, Versace, Dior, Steppers, Hugo Boss, Armani,Levis, Esprit,Oxydo, Tommy Hilfiger, Dolce & Gabbana, Calvin Klein, Silhouette, Swarovski, Dunhill and Mont Blanc.