Mumbai, Jul 16: Tatas lifestyle-oriented company Titan today rolled out the national launch of its eye wear business, 'Titan Eye plus' by opening five outlets in this teeming metropolis.
Titan Industries Managing Director Bhaskar Bhat told newsmen at the national rollout that the eye wear business aimed to become a Rs 300 crore business after three years with over 200 outlets across the country, offering both titan branded eye wears and also celebrated brands from across the world. The Company would adopt a franchise model to spread its wings in the eye wear business, and would own 15 per cent of the outlets only. investment in each outlet was expected to be around Rs 30 lakhs, he added. Titan had already launched titanEye plus in bangalore, Hyderabad, Chennai and Nagpur.
Mr Bhat said Titan, celebrating its 21st year, would emerge a billion dollar company this year. Last year, its turnover was Rs 3041 crore.
Mr Ravi Kant, Chief Operating Officer of Eyewear Division, said currently the industry, which was mostly in the unorganised sector was growing at the rate of 15 to 20 per cent and nearly 30 per cent of the population require vision correction. Currently, only 80 million people wear glasses as against the requirement of 300 million. He said Titan eye plus would cater end to end eyewear requirements.