CorporateTitan plans 22 new 'World of Titan' stores by March 2010
Titan Industries Ltd (TIL), the major producer and retailer of watches and jewellery industry, is planning to open 22 new stores of its ‘World of Titan’ retail chain of outlets in major cities across the country by the end of current FY 2009-10. Moreover, the company has just opened its 2nd store in Nashik.
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The Watch Division of the company has set 20 per cent sales growth target for the current financial year 2009-10.
The watch Division had registered sales turn over of Rs. 1,200 crore in FY 2008-09 and achieved sales of Rs. 780 crore in fist half of the current FY 2009-10. Out of watch Division’s total sales, 45 per cent sales come from South India, while 25 per cent from Western India regions.
With the opening of new store in Nashik, the company has now 283 stores of ‘World of Titan’ spread over 122 cities across the country. In organized domestic market, the Watch Division of Titan Industry has 64 per cent market share.
“We are planning to have total 305 stores of ‘World of Titan’ by opening 22 new stores March 2010.” Krishnan Ramanathan, National Retail Manager, World of Titan, Titan Industries Ltd, told Business Standard.
Titan products include over 1,200 watches from Titan, Nebula, Rega, Sonata, Fastrack, Tommy Hilfiger and Xylys.