Calcutta, May 27: Titan Industries plans to relaunch its Dash range of children’s watches. The brand was phased out last year.
“The launch will take place next year. This fiscal we will concentrate on building our volumes in the Rs 4,000-10,000 price segment. We will introduce seven to eight collections with 350 models across all segments. We have set a sales target of 40,000 units this year for the recently launched Aviator series,” said K.S. Ghai, head, national sales, Titan brand.
The watch division of Titan Industries has three brands — Titan, Sonata and Fastrack.
The Rs 4,000-10,000 segment contributes 25 per cent to the company’s turnover of Rs 400 crore. This share is expected to go up to 30-35 per cent with the latest launches. While the Rs 2,000 crore Indian watch industry is growing at 6 to 7 per cent, this segment has a growth rate of around 25 per cent.
“We are working on interesting designs like the Aviator series based on the World War II fighter planes. The others will be introduced in the next three to six months,” Ghai said.
The company plans to invest over Rs 50 crore this fiscal to promote the Titan watches. The company sold 90 lakh watches last fiscal under the Titan brand, accounting for 27 lakh units in sales.
The Raga brand grew by 46 per cent. “The current ratio of sales of men’s watches to women’s is 65:35. This is expected to become 60:40 by the end of this fiscal,” Ghai said.
Titan also plans to add 50 exclusive outlets this fiscal to the existing 211. Titan Industries Limited reported a turnover of Rs 2,136 crore last fiscal. The watch division contributed Rs 784 crore and the Tanishq jewellery brand Rs 1,292 crore.
Titan expects a business growth of 20 per cent. It has a market share of 60 per cent in the east. The region contributes 21 per cent to the brand’s revenues.