Titan, the country’s leading watch company, is launching a new brand in the high-end category this week. A senior company executive said the price range of the new brand will be between Rs 10,000 and Rs 35,000.
At present, the Rs 250 crore high-end watch market in the country has brands like Rado, Longines, Tissot and Tag Heuer’s low-end watches. This category is estimated to be growing at 25 per cent every year.
Titan’s existing brands are Sonata (Rs 395 upwards), Fastrack (sporty watches) and Titan. Then there are the sub-brands like Raga (for women), the premium Nebula range and the expensive Crown collection. It also markets Tommy Hilfiger watches in India under a licensing agreement with the international brand.
The Titan branded watches are priced up to Rs 8,000. The solid gold Nebula watches are priced in the Rs 12,000-60,000 range. The Crown collection is priced in the Rs 3-28 lakh range. However, these are jewellery-based watches sold only through direct marketing and exhibitions.
The company is looking at launching a new brand of well-designed watches with values that would appeal to buyers of international brands.