The Rs 956-crore Titan Industries Limited is planning to make a foray in the premium watch segment. Manoj Tadepalli, Head, Marketing, Titan Industries, said the premium range of watches will be launched under a different brand name by the middle of next year. However, a new collection of gold watches under the brand name ‘Nebula’, in the price range of Rs 4,500 to Rs 8,000, will be launched by the end of this year.
The company is looking at sub-branding seriously for its new launches, Tadepalli said. The sub-branding initiative both for the general and premium range would target consumers in a focused manner, he added.
In keeping with this strategy, the company on Wednesday launched a new collection, ‘Raga 9 to 5’, targeted at working women, in the price range of Rs 1,650 to Rs 5,500. Titan expects to sell around 70,000 units of ‘Raga 9 to 5’ watches by the end of this fiscal. Similarly, ‘Sonata’, another sub-brand in the Rs 500 to Rs 1,000 range, would target consumers across all sections.
Giving details about the Raga’s advertising plan, he said the electronic media would form a major part of the campaign that will hit media in the coming few days. The TVC developed by O&M will focus on working women. Print ads would be carried in women’s magazines like Femina, Cosmopolitan and Women’s Era. Around Rs 5 crore is being spent on the advertising. However, the total advertising account for all watch brands and the eye gear ‘Fast Track’ is Rs 50 crore, Tadepalli disclosed.