Titan launches 'Heritage Collection'

New Delhi, Sept 27 (UNI) With a view to cashing in on the festive season, Titan Industries Ltd today unveiled its 'Heritage Collection' of 13 watches priced at a range of Rs 3,750 - Rs 8,000.

The watches, present in nine distinct styles, will be available exclusively in the 'World of Titan' showrooms across the country.

''The collection, based on the historical monuments, target the mainstream customers as mid-market is very strong in the country,'' company's Managing Director Bhaskar Bhat told reporters here.

Mr Bhat said the company will increase the number of its stores up to 270 by the end of this financial year, from the existing 225.

''We will augment the number of outlets up to 270 by March next year and a majority of them will be franchisees,'' he said.

''We have launched the collection first in India and later on we will take it to overseas market,'' Mr Bhat said.

Currently, Titan holds more than 70 per cent market share of the Rs 1,400 crore organised watch segment in the country.

Mr Bhat said the company will open 150 outlets for Prescription Eyewear in the next three years and targets 10 per cent revenue from this segment by 2012.

Titan expects to sell 10 million watches by the end of this fiscal, nine million of them in the domestic market, Mr Bhat said.

It also targets a 50 per cent growth in its export revenue from watches by March 2008 against Rs 100 crore last year, he said.

Titan, having 1,200 watches on display, sells watches under the premium Titan brand and the low-cost Sonata brand.

UNI