Sonata, the mass market brand from Tata Group’s watch portfolio, has become the first branded player to break the Rs 250 price barrier with the launch of four watches under its ‘Super Fibre’ range. The new watches have been priced at Rs 225, but are currently available at a discount of 20 per cent till February 14, along with other watches in the Super Fibre range.
Around 1 lakh watch units of the sub-Rs 250 range have been placed in the market at present. Sonata is eyeing 1 million watch units in the next 18 months. The entire Sonata range is available in the price band of Rs 275 to Rs 1,475, with the average pricing being Rs 800. On the other hand, the average pricing for the Super Fibre collection is Rs 450.
A 360-degree campaign to promote the Super Fibre range took off on January 12, 2012. It is primarily a TV-led campaign with support from radio, print, OOH, and digital. The current campaign will continue till February 14. A TVC featuring brand ambassador MS Dhoni is currently on air to promote the Super Fibre range.
According to Bhaskar Bhat, Managing Director, Titan Industries, “Our estimate is that around 16 million watches are sold at price points below Rs 250. However, a significant proportion of this number is unbranded and of low quality with no guarantee. By launching watches in this segment, we are the first brand to break this price barrier, with no other product from the organised sector at this cost, simultaneously opening up a completely new market for the company.”
The Super Fibre range is being pushed through no less than 8,000 multi-brand outlets. Along with the usual channels of distribution, Sonata is also going the non-traditional way by placing the Super Fibre watches in gift stores, apparel/ retail outlets, mobile phone shops, as well as large format stores such as Big Bazaar.
Speaking on the TG for the Super Fibre range, Bhaskar said that it was “targeted at the youth who are go-getters and are impatient to get out there and make a mark. This is also reflected in the philosophy that we adopted over a year back - ‘Wait No More’, aptly personified by our brand ambassador MS Dhoni”. Sonata sold around 6 million watches last year, a 45 per cent share of the total sales volume.
Titan Industries became the fifth largest watch seller in the world last year, overtaking Seiko, selling close to 13.5 million watches last year collectively under all their brands. Harish Bhat, Chief Operating Officer (Watches), Titan Industries, shared, “This year, the overall sales volume target is 16 million watches, with a two-year mark of over 20 million watches, which would place Titan at the 4th spot.”