Titan plans 25 more showrooms this year

Titan Industries Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation, is planning to set up around 25 more 'World of Titan' showrooms across the country this year.

This apart, it is planning to introduce a new international brand in the Indian market.

Speaking to Business Standard, Bhuwan Gaurav, national retail operations manager, Titan Industries, said, "We currently have 185 'World of Titan' showrooms across the country. This year, we will be adding 20-25 more showrooms, each involving an investment of Rs 15 lakh-Rs 20 lakh only on the interiors."

Gaurav was in Hyderabad for the inauguration of Titan's seventh exclusive showroom in the city. So far, the company has 17 such showrooms in Andhra Pradesh. While refusing to divulge any specific numbers, Gaurav said that it had been a very good year for the company due to the increasing consumer spend in the country.

"We are seeing a double digit growth across our showrooms," he added. Titan will be opening another showroom in Hyderabad shortly.

Apart from having its own brands like Titan and Sonata in the market, the company also markets Tommy Hilfiger watches in the country. "We are looking at more licensing arrangements and may bring an international brand of watches in the Indian market soon," Gaurav said.

Titan Industries also sells its products via multi-brand outlets. At present, the contribution of revenues from exclusive showrooms and multi-brand outlets is in the ratio of 50:50.

However, according to Gaurav, the company sees the ratio getting skewed in favour of exclusive showrooms, in the near future. Titan Industries is also contemplating introducing over 400 new designs this year as compared to around 200 last year.