Titan's prescription eyewear retail outlet, Titan Eye+, is now on expansion spree after crossing the initial hurdles. It recently has launched its fourteenth store in Kozhikode, Kerala, bringing the count nationwide to 14. The company has aggressive plan for expansion and looking forward to beef up its retail footprint to 300 outlets in the next three years. According to Bhaskar Bhat, Managing Director of Titan Industries, the company is focusing on 40 selected towns as a part of their expansion plan. The products available in the store include a large selection of spectacle frames, lenses, and a wide variety of eye care products. The company hopes this expansion plan will enable them to achieve an annual turnover of Rs.450 crore ($125 million) over a period of next five years. In order to enhance the service they offer, the company has appointed Sankara Nethralaya for the training of its personnel. Lately it is observed that the corporate houses are making entry in the highly unorganized market of prescription eyewear. Its present market size is Rs.1800 crore, growing at the rate of 15% per annum. Recently, a Dutch optical behemoth, Pearle Europe, has entered the Indian market through 50:50 joint venture with Reliance Retail to set up a chain of optical stores throughout India.
