Titan Industries the first retail arm from the Tata group with operations spanning from Watches to Eyewear will miss the Billion Dollar sales mark by a whisker this FY – 2009. Mr. Bhaskar Bhat, MD in an exclusive to JP Morgan Analysts presents the business views of the company and the excerpts fro mthe same are as below.
The company has seen revival in demand for its watches and jewellery segment post June’08. It continues to maintain its previous guidance of 33% top-line growth. Specialty and lifestyle retailing will remain the core focus as organic growth opportunities in a nascent market such as India are large in several categories. It is aiming to add 750 stores over next 5 years and there are no immediate plans on the anvil for expanding international business.
Goldplus, Golden Harvest Scheme and Innovative collections such as Jodha Akbar to support double digit volume growth for jewellery business. Eyewear business prospects look encouraging and the company is looking to add 60 stores over next 1 year and 200 stores over next 3 years. The company has planned some exciting new launches in the watch segment such as a new children’s brand and automatic watches over next 6-9 months.
Retail Stores Expansion:
Tanishq – 113 current. Hope to end FY09 by 135
World of Titan – 243 retail outlets. 300 by the end of FY09
GoldPlus – 28 current. 35 to 40 by March-09
Titan Eye + – 25 current. End FY09 with 80-90 outlets