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Titan to look for newer retail formats

Titan to look for newer retail formats

Author | Source: Business Line | Saturday, Jan 21,2006 8:59 AM

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Titan to look for newer retail formats

TITAN Industries Ltd would be exploring newer retail formats for the sale of its watches. Apart from opening outlets in malls and the high streets, the company is also looking to give its stores a "new visual identity".

"We are looking to revamp our retail identity," Mr Ajoy H. Chawla, Business Head, Titan Industries Ltd, said. The company is planning to open more flagship stores in the country, which would exclusively retail Titan watches. "Currently, we have a flagship store in Delhi but hope to open others in at least the top six towns in this year," Mr Chawla said.

Apart from opening outlets in malls and the high streets, the company is also looking to give its stores a "new visual identity".

Titan recently launched its Wall Street Collection, which is targeted at 22 to 35- year-old "corporate young people". It has been spending around Rs 40 crore on marketing and retailing of both Titan and its Fastrack brands.

The company's RAGA collection, Mr Chawla said, would witness more marketing activities and campaigns, this year. "We also have a new collection lined up under the brand," Mr Chawla added.

In its Sonata range, the company plans to offer sub-Rs 300 watches to make its way into the huge semi-urban and rural markets in the country.

Summarising the company's strategies for the year, Mr Chawla said, "We want to be the drivers of the category and get people to become multiple owners of watches and at the same time not lose out on across other categories."

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