After watches, Titan now plans to market accessories such as leather belts and wallets. “We are currently test-marketing these products in Bangalore,” said Ms Suparna Mitra, Global Marketing Head, Titan Industries.

Though the company already has accessories such as belts, wallets, bags and sunglasses under its Fastrack brand, they are more targeted at youth, but “what we are exploring under the Titan brand will fall in the smart casual segment targeted at consumers in the age group of 25-30 who want to portray a certain image,” she said.

She said the pilot project has been very encouraging and that the company hopes to scale it up in the next couple of months after fine-tuning the offerings to align with market requirements.

Capital expenditure

Earlier, speaking to Business Line on the sidelines of the 10{+t}{+h} All India Management Students Convention, organised here by the Madras Management Association, Mr Bhaskar Bhat, Managing Director of Titan Industries, said the company has earmarked a capital expenditure of Rs 238 crore for the current financial year.

“It will predominantly be spent on creating better IT infrastructure within the company and its manufacturing facilities and marketing.”

Besides, the company is also exploring possibilities of taking the brand Titan to Indonesia. Titan watches are being exported to South Africa, which contributes 10 per cent of the company's overall watch business. In the domestic market, it plans to expand its premium multi-brand watch retail store brand Helios to 40 outlets by the end of the current financial year from the current 14.

It targets mostly Tier I cities for this model.

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