Titan Industries plans to introduce low-priced watches to further penetrate into the rural market, and at the same time introduce its highest priced watch at the high end even as it is looking for acquisition of brands to expand its market base. Titan's lowest priced watch is around Rs 250 while its highest priced watch goes with a price tag of around Rs 32,000.
Titan has an overall market share of around 50 per cent, with the top two brands in the country -- Titan and Sonata ranges -- under its fold.
The company has so far sold 65 lakh watches under its four brands -- Titan, Sonata, Dash and Fastrack. Titan expects to grow at the industry growth rate of around 10 per cent.
Around 10 per cent of its total sales comes from the international market. Titan brand is sold in around 39 countries apart from India. Sales turnover of the watch division of Titan Industries grew by 2.2 per cent to Rs 453.52 crore during 2000-01.