Titan to expand by 2011

Titan Industries Ltd, an Indian based retailer for watches and jewellery plans to open 80 to 100 retail outlets across India by 2011. A large part of this expansion will be through franchising. The company is expecting to grow its total revenue by about 25 per cent in the next fiscal year and accordingly the company will open new retail outlets.

The company presently supports 518 stores across the nation that sells watches under various brand names like the premium Titan and the economy brand Sonata. Titan industries also have two jewellery retail stores Tanishq and GoldPlus. The expansion plans of the Titan retail outlets throughout India will include the expansion of its various brands such as World of Titan, Tanishq, GoldPlus, Fastrack and Titan Eye+.

Besides this, the company is also planning to raise its watch manufacturing capacity by three million to meet the rising demand. As per an official, the company is spending around 100 million rupees on setting up a new watch manufacturing unit in the northern state of Uttarakhand to meet the rising demand of the consumers.