Titan to launch more global brands in India
26 Mar 2007
Mumbai: Tata group-controlled Titan Industries is planning to introduce more international brands in India after seeing the success of the Tommy Hilfiger brand launched earlier.
Officials said Tommy Hilfiger has grown at more than 60 pc year on year. The company said it would bring in two to three more licensed brands into India in the next two to three years including at least one in the next one year.
Media reports had earlier suggested that the company was in talks with Hugo Boss for a possible entry into India through the franchise route.
The growing market for the company has prompted Titan to start a new manufacturing facility in India and outsourcing of watches from neighbouring countries as well as increasing its retail presence by around 50 pc in the coming fiscal.
The company will be opening a new facility in Rourkee with a manufacturing capacity of 2-3 million watches with an investment of Rs 10 crore that will be functional by late 2007.
Titan has also opened a sourcing office in Hong Kong for outsourcing of watches from China, Korea and other such countries and have made significant progress in that regard with nearly 20 pc of the production being sourced from these countries.
Titan has also expanded its range in the sports wear category by introducing the Aviator series of watches. The new series, inspired from World War II fighter aircraft is targeted at the up-market, global Indian and has been priced between Rs4,000 and Rs7,000.