Titan Industries (TIL) may introduce its third stand-alone brand next year, which will be a high end offering from the house of Titan. This means Titan watch brand portfolio is likely to market its products under a new brand apart from Titan and Sonata.
While the brand Titan is over 12 years old in India, the Sonata brand was launched in 1998. The Titan umbrella brand offers many sub brands that have been designed to focus on specific consumer segments.
The company’s watch sales in the nine months ended December 31, 2000 grew from 36.90 lakh watches to 40.84 lakh watches, an increase of 11 per cent. At the end of the nine-month period, TIL achieved net sales of Rs 447.53 crore against Rs 397.80 crore in the corresponding period last year, a growth of 12.5 per cent. Net profit of the company during the period jumped to Rs 13.15 crore from Rs 6.90 crore for the same period.
The turnover of the jewellery division increased from Rs 99.19 crore to Rs 140.52 crore for the nine months ended December 31, 2000, an increase of over 41 per cent over the previous corresponding period.