Titan to open 100 outlets in India

April 13th, 2011 - 9:31 pm ICT by IANS  

Ahmedabad, April 13 (IANS) Titan Industries Ltd will open 100 outlets across India in the next three years for its exclusive “Helios” brand that will market about 30 top global brands of premium luxury watches, the company said Wednesday.

The company’s Chief Operating Officer Harish Bhat, who was here for the formal opening of the sixth Helios outlet in the country, said that about 40 Helios outlets would go operational by this year.

The first branded outlet in the country from the house of Tatas, Helios will stock renowned names like Movado, Fossil, Guess, Citizen and Seiko, besides their own brand Titan.

Bhat estimated the market size of wrist watches in India at 47 million pieces annually, accounting for a turnover of Rs.3,500 crore, with Titan accounting for 65 percent market share.

Bhat said the luxury segment accounted for only five percent of the market share but was growing at 30 percent a year and it was expected to double in five years.

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