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Rediff.com  » Business » Titan, Rohit Bal to design luxury watches

Titan, Rohit Bal to design luxury watches

Source: PTI
Last updated on: October 16, 2003 17:39 IST
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Seeking to leverage each other's brand strength, watch manufacturer Titan on Thursday joined hands with leading designer Rohit Bal to come out with a range of luxury watch collection targeting the top segment.

Titan said the "Nebula Rohit Bal" collection, created in 18 K gold and embellished with diamonds and other precious stones, would be priced between Rs 50,000 and Rs 100,000, and launched in April next year.

Titan Industries Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation, reported a turn-over of Rs 797.90 crore (Rs 7.98 billion) for the year ended 2002-03.

At a press conference in Bangalore, Titan's chief operating officer Bijou Kurien said under the association, two collections with eight to 10 products would be introduced every year and they would be jointly marketed by Titan and Rohit Bal Design stores across the country.

Bal indicated that the collection would be promoted as a product designed to be part of an Indian wedding trousseau.

Kurien said luxury watch market, though currently at a nascent stage, was growing rapidly and the company was keen to capitalise on that. Sales of watches with a retail price tag of Rs 5,000 and above are estimated to be Rs 150 crore (Rs 1.5 billion) a year.

He said Titan was aiming for a 25 per cent growth in the current fiscal, adding, the first six months (Apr-Sep 2003) indicated that it was exactly tracking the projection.
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