Titan Eyeplus, Titan Company’s optical retail brand, is planning to add 100 stores across the country in this financial year, half of which will be new and the remaining refurbished ones.

“These are low-key expansions compared with what we did last year. Last year, we had set up 100 new stores. We will be also expanding our lens lab by opening two more,” Bhaskar Bhat, Managing Director at Titan Company, told BusinessLine in an interaction.

“The 50 new stores would be in new towns,” Bhat said..

The company has a total of 514 Titan Eyeplus stores in the country, of which 43 are in Mumbai. Titan Eyeplus has a customer footfall of about 2.4 million per annum.

“We are looking to increase the footfall by about five times to 10 million in the next four and a half years.”

Lens labs

Titan, which has five lens labs, intends to open two more, one in Patna and Chennai. It now has lens lab in Bengaluru, Mumbai, Kolkata, Chennai and New Delhi.

“This will help us reduce turnaround time significantly, which is very important for this business,” Bhat said.

The company had invested in frame manufacturing last year, and now has a capacity to produce 1 million per annum.

“Eye-wear and eye-care are yet to reach many parts of the country. The market is growing and there is a lot of potential for growth, and we are looking to increase penetration,” he said at the opening of the 43rd Titan Eyeplus in Mumbai.

Titan Eyeplus stores have more than 1,000 products including frames, sunglasses and global brands. Titan has about 1,520 retail chains as of June 30, 2018.

The company would also be expanding its Taneira brand, under which it was aiming to revive the conventional saree.

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