Titan Industries, that opened its first Helios outlet in western India today with its store in Ahmedabad, plans to come up with 100 such outlets across the country within the next three years. Helios is the company’s premium multi-brand watch retail store.
The company at present runs five Helios outlets in Bangalore, Delhi, Chandigarh. "We are expecting each of the Helios stores to clock a turnover of Rs 5 crore within a year of its operations," said Harish Bhat, chief operating officer-watches, Titan Industries . Over a period of five years, Titan Industries is eying a turnover of around Rs 500 crore from its Helios outlets.
The first Helios store came up at Bangalore around two years back. "It has clocked a 50 per cent growth last fiscal", Bhat added. The total market for watches in the country is around 47 million watches per year, valued at around Rs 3,500 crore. "Of this, the organised watch market is around 16-17 million watches per annum, and the premium segment at present comprises less than 5 per cent of the organised market.", he informed adding that the premium watch segment is clocking a compounded annual growth rate of 30 per cent. At this rate the market is estimated to grow three-fold within the next five years.
At the same time, the number of upper-middle class families in the country is likely to grow four times in the next five years. Titan, hence, sees huge opportunity in the premium watch segment.
It has tied up with 30 international and Indian brands including Movado, Roamer, Emporio, Armani, Fossil, Guess, Tommy Hilfiger, FCUK, Casio, Seiko, Citizen among others. The Helios outlets would also sell the premium range watches from Titan, like the Xylys brand.
Source : Business Standard