Leading watchmaker Titan Industries Limited today announced to invest about Rs 100 crore for opening 50 premium watch outlets Helios in next five years to attain a sales target of Rs 400 crore.
"We have plans to open 50 outlets of Helios, which may involve an investment of close to Rs 100 crore in next five years," Company's Vice President (Retail) Ajoy Chawla told reporters after unveiling firm's second such outlet here.
In the first phase, the company will open 15 stores in top 10 cities within a year in line with its plans to have pan-India presence. "We are looking to open Helios outlets in Mumbai, Delhi, Hyderabad, Kolkata, Chennai, Pune, Ahmedabad etc in next 12 months," he said.
Titan Industries had come up with its first Helios store in Bangalore one and a half years back.
Although, Chawla refused to share details of revenue collected from the premium watch stores at present, he said the company targets sales of Rs 400 crore in a span of five years.
Stating that the company would also explore options of opening stores through the franchise route, Chawla said it would like to have outlets of size ranging between 1,500 square feet to 2,000 square feet.
The size of the premium watch (starting from minimum Rs 5,000) market is around Rs 500 crore and has the potential to grow further, he said.
"Last year, the market for premium and luxury watches took a hit due to slowdown. But this market has the potential to grow 30 per cent per annum in next five years in view of the growing purchasing power of people, who are highly brand conscious," he asserted.
Helios houses 34 fashion and premium global watch brands including Emporio Armani, Burberry, FCUK, Movadao, Fossil, Guess, Casio, Seiko, Titan etc.
Titan Industries is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation.
Source:Press Trust of India / Chandigarh June 22, 2010, 18:03 IST
Tags:Helios Franchise, Titan, Ajoy Chawla, Helios Outlets, franchise route,premium watch franchise, luxury watch franchise, global watch brands,Titan Franchise,Best Franchise, Latest Franchise.
This Blog has been posted by Sparkleminds, A Franchise Consulting Company Based At Bangalore, India, Offering Complete Franchise Solutions Nationally and Internationally for more than a decade now.Visit www.sparkleminds.com for more details.
Showing posts with label Titan. Show all posts
Showing posts with label Titan. Show all posts
Thursday, June 24, 2010
Thursday, June 3, 2010
Tanishq to add 15 Franchise Stores To Its Existing 115.
KOLKATA: Tanishq, the jewellery brand of Titan Industries, does not see soaring gold prices as a major concern for its retail business, a top company official said today.
“The gold price is no big concern for us,” Titan Managing Director, Mr Bhaskar Bhat said here on the price of the precious metal, which was hovering close to Rs 19,000 per ten grams.
“We have registered volume growth of gold jewellery by 11 per cent in the previous year,” Bhat said, without giving any projection for the current fiscal.
Mr Bhat said the company was planning to add another 15 stores during the year. The company has 115 stores across the country. Meanwhile, Titan is trying to promote a better workplace for the gold artisans of its outsourcing partners to improve productiv ity and bring down costs.
“In the concept of Mr Perfect Workplace, we provide a healthy workplace with air-conditioning, compared to the pitiful conditions in which artisans work traditionally. Free Rs 50,000 mediclaim is also offered to workers,” Mr Bhat said.
The concept will attract talent to the trade, a Tanishq official said. There are 22 outsourcing partners which feed 100 per cent of Tanishq’s gold jewellery requirement. - PTI
Source:Hindu Business Line:PTI.
Tags:Tanishq Franchise,Perfect Workplace, jewellery franchise,gold franchise, jewelry franchise, jewellery business, diamond franchise, jewelery franchising, gold franchising.Bhaskar Bhat, Titan,
“The gold price is no big concern for us,” Titan Managing Director, Mr Bhaskar Bhat said here on the price of the precious metal, which was hovering close to Rs 19,000 per ten grams.
“We have registered volume growth of gold jewellery by 11 per cent in the previous year,” Bhat said, without giving any projection for the current fiscal.
Mr Bhat said the company was planning to add another 15 stores during the year. The company has 115 stores across the country. Meanwhile, Titan is trying to promote a better workplace for the gold artisans of its outsourcing partners to improve productiv ity and bring down costs.
“In the concept of Mr Perfect Workplace, we provide a healthy workplace with air-conditioning, compared to the pitiful conditions in which artisans work traditionally. Free Rs 50,000 mediclaim is also offered to workers,” Mr Bhat said.
The concept will attract talent to the trade, a Tanishq official said. There are 22 outsourcing partners which feed 100 per cent of Tanishq’s gold jewellery requirement. - PTI
Source:Hindu Business Line:PTI.
Tags:Tanishq Franchise,Perfect Workplace, jewellery franchise,gold franchise, jewelry franchise, jewellery business, diamond franchise, jewelery franchising, gold franchising.Bhaskar Bhat, Titan,
Tuesday, January 5, 2010
Fastrack to Cross 50 Exclusive Stores by April 2010
Fastrack, a fashion accessories brand from Titan Industries Ltd, is mulling to take the number of its exclusive stores to 50 across the country by April 2010, majority of them through franchise model.
According to Fastrack vice president and head Ronnie Talati, most of the outlets would be operated on franchise model with an investment of Rs 40-50 lakh, and a floor space of 400-500 sq ft.
“Since the launch of our first exclusive Fastrack store in Pune, the brand has received tremendous response in Vizag, Chennai, Bangalore, Bhubaneshwar, Thane and Nashik with Fastrack stores. With the launch of new stores at Begumpet and Himayatnagar in Hyderabad, we now have 13 Fastrack exclusive stores and seven kiosks,” Talati added.
The perspective plan envisages setting up of 50 stores in the country by April 2010 and then expands this further to a chain of over 100 outlets by next year. “We have set up a few of these stores as demonstration points and receive enquires for new stores. In fact, several of the dealers of Titan stores are keen to set up Fastrack stores,” Talati told reporters on the launch of two new stores in Hyderabad.
“Finding a right place to set up a store is a key challenge for us. Once we do so, we are able to roll it out soon. The choice of location of a store is also dependent on how fast we can secure a property. With the slowdown in the real estate market, we see opportunities. However, finding a store of 400 to 600 ft in larger malls takes time,” said Talati.
The brand, whose mainstay is watches and sunglasses, forayed into accessories like belts, hats and bags this year and expects to reach a sales figure of Rs 360 crore with a growth rate of 25 per cent over last year.
“With the expansion of products in the Fastrack stores, covering accessories, most stores are breaking even within the very first year of operation as against our initial estimates of two years. The sales revenues from accessories would contribute 15-20 per cent to our revenues over the next five years," said Talati.
The brand would roll out more designs and models of various accessories like bags, belts, and leatherettes every month, Talati said, adding that they have no intention of bringing foreign brands to India.
According to Fastrack vice president and head Ronnie Talati, most of the outlets would be operated on franchise model with an investment of Rs 40-50 lakh, and a floor space of 400-500 sq ft.
“Since the launch of our first exclusive Fastrack store in Pune, the brand has received tremendous response in Vizag, Chennai, Bangalore, Bhubaneshwar, Thane and Nashik with Fastrack stores. With the launch of new stores at Begumpet and Himayatnagar in Hyderabad, we now have 13 Fastrack exclusive stores and seven kiosks,” Talati added.
The perspective plan envisages setting up of 50 stores in the country by April 2010 and then expands this further to a chain of over 100 outlets by next year. “We have set up a few of these stores as demonstration points and receive enquires for new stores. In fact, several of the dealers of Titan stores are keen to set up Fastrack stores,” Talati told reporters on the launch of two new stores in Hyderabad.
“Finding a right place to set up a store is a key challenge for us. Once we do so, we are able to roll it out soon. The choice of location of a store is also dependent on how fast we can secure a property. With the slowdown in the real estate market, we see opportunities. However, finding a store of 400 to 600 ft in larger malls takes time,” said Talati.
The brand, whose mainstay is watches and sunglasses, forayed into accessories like belts, hats and bags this year and expects to reach a sales figure of Rs 360 crore with a growth rate of 25 per cent over last year.
“With the expansion of products in the Fastrack stores, covering accessories, most stores are breaking even within the very first year of operation as against our initial estimates of two years. The sales revenues from accessories would contribute 15-20 per cent to our revenues over the next five years," said Talati.
The brand would roll out more designs and models of various accessories like bags, belts, and leatherettes every month, Talati said, adding that they have no intention of bringing foreign brands to India.
Subscribe to:
Posts (Atom)