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Titan to open 300 outlets in three years

24th November, 2008

The Economic Times

Titan to open 300 outlets in three years
The Economic Times
24 Nov 2008, 1639 hrs IST, PTI
COIMBATORE: Titan Industries has plans to open 300 retail stores for its 'Titan Eye' in the coming three years across the country, a senior company official said on Monday.
Talking to reporters after inaugurating the first 'Titan Eye' store in the city, the fifth in Tamil Nadu and 40th in India, V Govindaraj, Vice President, Integrated Retail Services, Titan Industries, said the company would add another 20 exclusive optical showrooms in the current fiscal.
As the current Indian prescription eyewear market was ''sizeable'' with nearly 30 per cent of the population requiring vision correction, the company was eyeing a substantial market, with rs.50 crore in 2009-10 and rs.300 crore to rs.500 crore in the third year, Govindaraj said.
Titan industries, a joint venture between Tata group and Tamil Nadu Industrial Development Corporation (TIDCO) has reported a turnover of rs.3041 crore for the year ended 2007-08, he said, adding that Titan Eye has recently entered into a technical pact with Sankara Nethralaya for training of retail and clinic staff.
The company was also running Titan Watches and Tanishq brand of jewellery, besides a precision engineering unit for supplying spares to aerospace and automobile industries, he said. With a market size of rs.1500 crore to rs.2000 crore, the company expected to capture a substantial eyewear market share in the near future, Govindaraj said.


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