Titan to open 200 stores by 2010-11; eyes 25-30% market share

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New Delhi, Aug 28 (UNI) With a view to emerging as the leader in the estimated Rs 1,500 crore Indian eyewear market, Titan Industries, a Tata group company plans to open 200 showrooms across the country by 2010-11 with a special focus on Tier II and III cities.

The company, at present, has 28 exclusive Titan Eye Plus outlets in nine cities and plans to add another 172 stores during the next over two-and-a-half years with a view to emerge as the leader in the estimated Rs 1,500 crore Indian eyewear market.

''We have just opened three showrooms in Delhi, taking the total number of showrooms to 28 across nine major cities. Our plan is to set up another 172 showrooms by end of 2010-11 and spread to more than 40 cities,'' Titan Industries Chief Operating Officer (Eyewear Business) S Ravi Kant said.

The company is looking for a turnover of around Rs 500 crore by 2010-11.

He said around 85 per cent of these new showrooms will be of franchise model, while the rest would be company owned.

Of the company's 28 existing stores, eight of them are company owned while the rest 20 are franchises.

The company ventured into retail eyewear business in 2007.

''The Rs 1,500 crore Indian market is witnessing a growth of around 15 per cent annually and we want to emerge as the market leader with at least 25-30 per cent share,'' he said.

Titan Eye Plus has presence in major metros of Mumbai, Delhi, Kolkata, Hyderabad and Bangalore.

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