Titan into multiband retail stores
About Titan Industries:
Titan Industries is the world's fifth largest wrist watch manufacturer and India's leading producer of watches under the Titan, Fastrack, Sonata, Nebula, RAGA, Regalia, Octane & Xylys brand names. It is a joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation (TIDCO). Its product portfolio includes watches, accessories and jewellery, in both contemporary and traditional designs. It exports watches to about 32 countries around the world with manufacturing facilities in Hosur, Dehradun, Goa and manufactures precious jewellery under the Tanishq brand name, making it India's only national jewellery brand. It is a subsidiary of the Tata Group.
HELIOS- Titan:
HELIOS, the high end multi-brand watches chain will house over 35 premium international watch brands like Versace, Seiko, Movado, Hugo Boss, Citizen, Fossil, Titan, Xylys, DKNY, Nina Ricci, Roberto Cavalli, Esprit, Tommy Hilfiger etc.
Facts:
Helios derives its name from Greek Mythology, wherein the Sun God was personified as Helios. The Sun is also the oldest form of telling time. The same name was given to the son of one of the Titan’s in Greek Mythology. An Apt name for this new venture from Titan industries Ltd.
“Through HELIOS, we have set an international standard in multi-brand watch retailing in India. The opportunity and need for premium multi-brand watch retailing in India is growing at a healthy pace with rapidly changing demographic patterns. This new retailing venture from Titan Industries Ltd will help to substantially expand the premium watch market in India by bringing together international brands and the global Indian customer in a sophisticated shopping environment, heralding a new era in the watch industry in India.”
Mr. Bhaskar Bhat, MD, Titan Industries
Investment of about Rs 100 crore for opening 50 premium watch outlets Helios in next five years to attain a sales target of Rs 400 crore.
Vice President (Retail) Ajoy Chawla Titan Industries
The watch industry is on the growth path, the most likely things core among which are like once the brands get their selling directly to the customers with the elimination of middlemen, the cost will automatically come down as the middlemen costs get eliminated. The watch industry in India is estimated at Rs 25 billion. While the overall market is growing at 5 per cent per annum, the premium to luxury market is growing rapidly at an astonishing rate of 35 per cent.
If we have a look at the turnover this brand has experience you won’t believe in the numbers, Titan industries has reported turnover of Rs1252.82 crore and net profit of Rs 81.28 crore for the quarter ended June 2010.
Taking into consideration the above stats and facts as regards the turnover and the future plans of Titan, the success path that lies ahead for Titan seems to have enormous returns.
Facts form the past for Helios
HELIOS was the Titan god of the sun. He was also the guardian of oaths and the god of gift of sight. Helios dwelt in a golden palace located in the River Okeanos at the eastern ends of the earth. From there he emerged each dawn driving a chariot drawn by four, fiery winged steeds and crowned with the aureole of the sun.