The Rs 960-crore Titan Industries Ltd — a joint venture between the Tamil Nadu Industrial Development Corporation and the Tata Group of Companies — is now planning to promote its ‘FLIP’, under the umbrella brand ‘Titan’, through select 300 premium retail outlets, across the country, within a year. The 300 outlets through which Titan’s ‘FLIP’ Watches will be sold is going to be inclusive of ‘The World of Titan’ showrooms, as well.
At present, Titan has 144 multi-brand outlets called ‘Time Zones’, and, stocks 17,000 SKUs through a network of 6,000 dealers, and, 30 distributors, across the country.
According to Bijou Kurien, chief operating officer, Titan Industries Ltd: “As part of the new customer relationship management (CRM) initiatives at the retail-end, Titan Industries’ on-going loyalty programme called “Signet Club’ through ‘The World of Titan’ showrooms has taken off well. Through this loyalty programme, in order to introduce ‘FLIP’ Titan watches to the few top-end members of the club, Titan will address to them this specific collection which will meet their requirements, depending on their specific requirements.”
Further, Mr Kurien added that with the unveiling of ‘FLIP’ Titan watches, Titan hopes to grow the contribution of its loyalty programme to its overall sales turnover from 7.5 per cent to 10 per cent. For the purpose, the company is planning to add additional 50,000 new top-end members to its existing 1,75,000 members of the ‘Signet Club’, in the year 2004.
Prior to the move, Titan Industries has recently repositioned ‘Titan’ Watches in the Indian market by way of introducing an international range of watches priced between Rs 2,000 and Rs 7,000. The range of contemporary-styled watches is available in 55 designs, and, is targeted at the evolved Indian consumer who aspires for the latest in international trends. As for ‘FLIP’ Titan watches, the positioning and the target audience is upper premium segment priced between Rs 5,495 and Rs 6,495.
As for Titan watches, informed Mr Kurien: “In the year 2004, we are also looking at planning to implement exports of ‘FLIP’ Titan watches to countries such as Great Britain, Spain, Greece, Singapore, Malaysia, Thailand, Dubai, Oman and Saudi Arabia, in the year 2004. In addition, we are also planning to focus on expanding ‘The World of Titan’ showrooms from 162 to around 187 showrooms, within a year.”
In addition, Titan Industries is also now in the process of implementing exports of Titan watches to countries such as Vietnam, Indonesia, Russia, Canada and CIS countries, very soon. Since the early nineties, Titan has been spreading its wings overseas, and, has been exporting Titan watches to 40 countries around the world.
According to Mr Kurien, with the new initiatives, Titan Industries hopes to increase its sales turnover to Rs 1,150 crore, within a year.