Titan aims Rs.4.5 bn from eyewear venture (Lead)

April 28th, 2008 - 11:43 pm ICT by admin  

Kozhikode, April 28 (IANS) Titan Industries Ltd aims at an annual business of around Rs.4.5 billion ($112.5 million) fiveyears from now, from its recently launched eyewear venture, said company managing director Bhaskar Bhat here Monday. He was talking to reporters after announcing the launch of Titan Eye+ (Titan Eye Plus), the company’s first specialised eyewear showroom in Kerala and the fourteenth in the country.

Titan, a joint venture between the Tata Group and Tamil Nadu Industrial Development Corp (TIDCO), commenced operations in 1987 under the name Titan Watches Ltd. Later, the company diversified its operations into jewellery business and recently into the eyewear sector.

Bhat said Titan was planning 300 eyewear showrooms in three years. “At present we have selected 40 towns. In 90 days we will open showrooms in these towns,” he added.

The stores offer lens and frames of Titan and other brands. For optical lenses, Titan has a tie-up with lens manufacturer Essilor.The Titan Eye+ recently entered into a pact with Sankara Nethralaya, a leading Chennai-based eye hospital, for training its retail and clinic staff.

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