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Mr Harish Bhat

Our Bureau

Bangalore, Jan. 22 Titan Industries has entered the multi-brand watch market with the launch of Helios, a multi-brand watch store in Bangalore.

The 2,650-sq-ft Helios store will retail 36 watch brands (including brands of Titan) in the premium to luxury category in the price range of Rs 5,000 to Rs 75,000. Some of the brands are Swiss such as Raymond Weil, Ebel, Titan Xylus, mainstream premium brands such as Seiko, Citizen and Titan, and fashion brands such as DKNY, Fossil, Esprit, Emporio Armani, Tommy Hilfiger and Hugo Boss.

Depending on the success of the pilot effort, Titan looks to open 100 stores across the country in 3-5 years. Titan sees a huge opportunity in the premium to “affordable” luxury segment in the country. “The watch industry in India is estimated at Rs 2,500 crore. While the overall market is growing at 5 per cent per annum, the premium to luxury market is growing rapidly at an astonishing rate of 35 per cent,” says Mr Harish Bhat, COO, Watches, Titan Industries.

But is this a good time to start a new venture, given the downturn? Mr Bhat says, “These watches will be bought by the upper-middle to upper class people. They are fairly affluent people. And in testing times, they will look at a reliable name like Titan. Today, people are not buying into houses and automobiles. And watches are not linked to EMIs and interest rates. Watches bring in a feel-good effect. And people with disposable incomes want to choose carefully from a range of aspirational brands, which is why we decided to enter the multi-brand segment. And in markets like West Asia, multi-brand watch stores have really done well even in these times.”

Range is the key proposition of Helios and will display over 2,200 watches, adds Mr Bhat.

In Greek mythology, Helios is the sun god. He is the son of the Titans, Hyperion and Theia. And the sun in ancient times was used as a measure of time, the sun dial for instance.

More Stories on : Strategy | Watches & Accessories

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