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Titan to expand retail ops, add watch capacity

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Titan Industries Ltd, India’s top watch and jewellery retailer, expects to add 80 to 100 retail stores in the next fiscal to its existing 518 and increase watch manufacturing capacity by 3 million units annually on robust demand, a top official told Reuters.

“Expansion will go hand in hand with retail sales. We expect to grow topline by about 25 percent (in FY10 on year) and in accordance with that we will open retail stores,” Managing Director Bhaskar Bhat said on Wednesday.

Titan sells watches under a range of brands including the premium Titan and the economy brand Sonata.

It has two jewllery retail chains-Tanishq and Goldplus.

Source: Reuters

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