Fastrack, timewear and eyewear brand from the house of Titan, opened two new exclusive stores in New Delhi at Kamala Nagar and Satyaniketan today. With an average investment of Rs.35 lakh to 50 lakh, the exclusive stores are the first ones in Delhi and in the northern India. The stores cover an area of 500 sq.ft.
Harish Bhat, COO, Titan Industries said, “Fastrack as a youth fashion brand always aspires to be creative and innovative. The brand caters every need of today’s youth under one roof. Since the launch of its first store in Pune last year, today we have 16 exclusive stores across the country and we are happy that Fastrack has become an iconic youth brand, perhaps the first Indian one. At the cusp of completing our one year since our Pune store launch, it was important for us to be present in the national capital.”
According to Bhat, Fastrack’s expected turnover is Rs.1.5 crore per store. Currently, the brand has 14 stores across nine cities including Pune, Vizag, Chennai, Bangalore, Bhubaneswar, Thane, Nasik, Hyderabad and Bhopal. The further plans include launching 50 stores across the country by April 2010, concentrating on metro and state capitals. Most of the stores will be run by franchisees, informed Bhat.
Fastrack has also extended its portfolio beyond watches and sunglasses with the launch of bags, belts, wallets and wristbands. The new categories, which are being test-marketed in few markets, will later be launched pan India.
— IndiaRetailing Bureau