Financial Daily from THE HINDU group of publications
Wednesday, Feb 01, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 01, 2006 |
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Marketing
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Channels and Franchises Titan in talks with global brands for distribution in India Ajita Shashidhar
Mumbai , Jan. 31 TITAN Industries is in talks with a number of international watch brands for an exclusive licensing agreement to market and distribute them in India. Though Mr Bijou Kurien, COO, Titan Industries, said it was too premature to reveal the names of the brands with which the company was in talks with, he said they were mostly fashion brands in the price segment of Rs 5,000 and Rs 15,000. "These international brands should hit the stores by April this year," he said. The company already has a sub-licensing agreement with Tommy Hilfiger to market its watches in India. Mr Kurien, who spoke to Business Line, on the sidelines of the recently concluded Images Fashion Forum, said the company is also looking at further spreading its wings to the international markets. "We are looking at setting up stores in Russia, South Africa and Indonesia this year." Titan is already present in 30 international markets, such as Singapore, Thailand, Malaysia, Mauritius, Spain, Portugal and Greece. On the retail front, apart from adding 60 stores (which would be a mix of World of Titan, Timezone and Sonata stores), the company is also planning to look at new formats, such as setting up 20 Fastrack kiosks in malls across the country. "These kiosks are targeted to draw attention of young consumers who usually walk into malls for window shopping. This segment normally doesn't walk into a shop but walk around the mall." The company recently experimented with an only women's watch store, Raga Store, at the Eva Mall (a women's only mall) in Bangalore. Mr Kurien said if the concept works, the company would look at opening more such stores in the coming fiscal.
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