Titan Industries (TIL) plans to tap the rural and semi-urban markets with its Sonata brand of watches, company officials said while launching new designs of its ‘Super Fibre’ range recently.
“Nearly 80 per cent market is for watches below Rs 500 while the rest is for higher range including the luxury segment. Sonata brand primarily operates in the price range Rs 395 to Rs 1,300, which we think has the largest potential,” area sales manager (Sonata) TIL Elangovan Mudaliyar told reporters.
“Since the urban market is more or less saturated even for the Sonata range, we plan to tap the rural and semi-urban markets. Our sales target is of 10 million watches in the next three years,” Mudaliyar said.
Talking about its ‘Super Fibre’ range of watches, Mudaliyar stated that this model is primarily targeted to the youth between the age group of 16-25 years.
“The watches are priced in the range of Rs 275 to Rs 550, which come with one year replacement warranty and are water resistant,” he added.
Mudaliyar said that last year sales for Sonata watches in Gujarat grew by 4 per cent while the sales of luxury watches by TIL went down by couple of percentages.
Team India skipper MS Dhoni is the brand ambassador for Sonata and a new advertisement featuring him will be used of marketing the ‘Super Fibre’ range, he said.
Source: Business Standard