The brand Titan is being extended outside the watch segment for the first time. The country's largest watchmaker, Titan Industries, is extending the house brand into premium sunglasses with the introduction of Titan Shades. And as one of the leading domestic consumer brands, Titan is pitching its sunglasses foray almost in direct contest with Ray Ban.
“The premise for the extension is to provide an evolved Titan customer with lifestyle accessories. We are looking at the 25-45 year age bracket,” Ronnie Talati, business head of Lifestyle Accessories & Licensed Brands, told ET. The product-line is priced between Rs 2,500- 5,900.
Incidentally, the company is already present in the sunglasses category with the youth brand Fastrack, which is targeted at the 15-25 year-old group, and priced in the Rs 700-2,000 range.
Fastrack EyeGear contributed Rs 20 crore in the company's topline pegged at Rs 1,481 crore last year. “While Fastrack has a funky positioning, Titan sunglasses is a more serious play. The centre of the price gravity will be in the region as that of Ray Ban in India - around Rs 3,500,” said Mr Talati.
Titan Shades is expected to contribute Rs 20 crore by the end of the ongoing financial year FY07, and is expected to touch Rs 50 crore by FY08.
Titan Shades will be pushed through multiple distribution channels like World Of Titan exclusive showrooms, multi-brand outlets and large department store chains like Shoppers' Stop and Lifestyle.
Titan seems buoyant about the sunglasses business with the category reporting robust growth, as Fastrack sales, for instance, is vaulting at nearly 100% year-on-year.
Titan's new foray will have a national footprint shortly. “In the case of Fastrack EyeGear, there is a skew towards the top eight metros. But we expect Titan Shades to have a better mix as there is a demand for premium sunglasses amongst the slightly older customers in the upcountry market,” said Mr Talati.