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Titan Industries Ltd plans to open 100 outlets under the ‘Helios' brand across India in the next three years to market nearly 30 brands of premium luxury wristwatches as one-stop destination for high-end customers of the fashion accessory, a company official said.
Nearly 40 of these outlets, which will market international brands of watches in the price range of Rs 5,000 to Rs 1 lakh, will be opened by the year-end. These will include luxury brands of Titan as well.
Nearly 1,500 watches of various brands will be on display at this multi-brands retail chain, the first in the organised sector in India.
Premium brands
The company, which opened its first such outlet in Bangalore two years ago and the sixth in India at Ahmedabad recently, will market premium brands, including Fossil, Guess and Seiko, the most popular global brands in the wristwatch segment in India, said Mr Harish Bhat, Chief Operating Officer-Watches, here. The staff at these outlets would be trained by the brand-owners periodically to update their knowledge of the products.
The market size of wrist watches in India is 47 million pieces annually, amounting to Rs 3,500 crore. But only 16-17 per cent of this is in the organised sector. The Titan brand accounted for a 65 per cent market share in the organised sector last year.
The market share of various brands in the luxury segment is only 5 per cent which has, however, seen a 30 per cent growth last year and is expected to double in the next five years, he said.
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