The Hindu Business Line : Titan eyes 15-20% growth in watch sales

Bangalore, Aug. 17 Titan Industries is eyeing a 15-20 per cent growth in watch sales this financial year. In 2008-09, the company’s watch segment sales were around Rs 908 crore.

Titan will continue with its retail expansion plans as usual, said Mr Harish Bhat, COO, Watches, Titan Industries.

Titan expects to open 40 ‘World of Titan’ showrooms this year; 14-15 stores are operational. It will also launch 400 new watches across 15 new collections this year, he said. Already 150-200 models have been launched this year.

Exchange offer

Fuelling the optimism is Titan’s ongoing exchange offer that promises a 20 per cent discount on Titan watches in exchange for old watches. The offer has led to a trebling in sales, said Mr Bhat.

In the initial 15 days of the offer, the company sold nearly two lakh watches. The average value of watches sold so far during the offer is around Rs 3,000.

Related Stories:
Titan to set up ‘exclusive sales counters’ for Sonata
Titan offers 25% discount
Titan has no plans to go slow on investments

More Stories on : Outlook | Watches & Accessories

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