Titan Eye +

Titan is strongly focusing on the newly launched Titan Eye+ prescription brand by opening close to 80 stores by end of fiscal year 2008. In addition, the company is also planning to open their second international store in New Jersey by December. The first international store of the company’s jewellery brand Tanishq was inaugurated in Chicago in the first quarter of the current fiscal year. “We have opened 29 new stores of World of Titan, Tanishq, Titan Eye+ and Gold Plus stores. We are planning to open 70 to 80 additional Titan Eye+ stores across 40 towns in the country by March 2009,” said Bhaskar Bhat, managing director, Titan. The new Titan Eye+ stores are based on the franchise model. Titan watches were also launched in Pakistan this quarter. In general, the company spends 6 per cent of its total revenue on advertising and marketing. This year, Titan has allotted Rs 200 crore in marketing communication.
In addition, Titan has also recently launched a high-end watch called Nebula Zeus under its premium brand Nebula. The watches are available in three styles and priced at Rs 110,000. Nebula Zeus is available exclusively at select World of Titan stores in major metros only. The company would launch more high-end watches in the same category this year, added Bhat.
Titan’s income from the watch segment has increased to Rs 171.89 crore in the first quarter of this fiscal year from Rs 168.83 crore in the yearago period. The company’s jewellery category grew to Rs 615.72 crore in the past quarter from Rs 466.41 crore during the same quarter last year.
Titan Industries was established in 1984 as a joint venture between the Tata group and the Tamil Nadu Industrial Development Corp. The company brought about a paradigm shift in the Indian watch market, offering quartz technology with international styling, manufactured in a state-of-theart factory at Hosur, Tamil Nadu.In 1995, the company diversified into jewellery under the brand — Tanishq to capitalise on a fragmented market operating with no brands in urban cities. In 2005, the company launched its second jewellery brand, Gold Plus.