Titan Industries Limited plans to open 40 new outlets across the country within this fiscal and is eyeing a growth target of 25 per cent.
"We have plans to open 40 new showrooms of Titan watches across the country in this fiscal and we are definitely looking at opening of our outlets in the malls which are rapidly coming up," Titan Industries Limited, Business Head (Titan), Ajoy Chawla said in Ludhiana.
After having consolidated its position in the southern and western parts of the country, Titan now wishes to focus on northern region, which is still untapped.
"According to our plans, we will now emphasise on strengthening our market in the northern region. That is why we will open 15 new outlets only in the northern part of the country," he informed.
Presently, Titan has over 190 outlets in the country.
Titan Industries Limited, which is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation, has decided to achieve a growth level of 25 per cent in its turnover.
"The sales of Titan brand watches clocked a turnover of Rs 450 crore (Rs 4.5 billion) in the last fiscal and we would like to grow it by 25 per cent in this fiscal," said Chawla.
Titan Industries as a whole reported a turnover of Rs 1,481 crore (Rs 14.81 billion) in 2005-06.
Claiming to have 60 to 65 per cent market share in total watches business size, Titan Industries exports its watches to West Asia, Asia Pacific, SAARC countries etc.
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