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Tata Group firm Titan Company plans to open 60 new 'Titan Eye Plus' outlets during the current fiscal as part of an aggressive expansion strategy for the prescription eyewear products and sunglasses.
Besides, it is also looking at increasing distribution of its in-house brands -- Fastrack and Glares -- this year.
"We have decided to have an equal focus on prescription eyewear products and sunglasses. We feel sunglasses category has a huge potential. We plan to expand aggressively and open 60 new outlets this year," Titan Company Eyewear Division CEO Ravi Kant told PTI.
At present, there are over 300 Titan Eye Plus outlets in the country.
To expand its footprint across the country, the company will open stores for the first time in 20 towns, Kant said.
Originally a watch manufacturer and retailer, Titan has expanded into jewellery and eyewear markets over the years, while it also retails personal accessories such as bags, belts, wallets and perfumes.
Elaborating on plans for sunglasses category, Kant said: "While Fastrack is the most distributed sunglasses brand with 5,000 points of sales, at present, 'Glares' is only sold through Titan Eye Plus stores.
"We are looking at selling 'Glares' in multi-brand retail stores such as Shoppers Stop. This will happen in the next 2-3 months."
When asked if the company may open standalone stores for sunglasses in future, Kant said: "There's a possibility and we have thought about it."
The company also plans to begin selling 'Glares' in Sri Lanka this year, he added.
