Titan to expand Tanishq stores' footprint in the Middle East and N America

Expects 15-20 per cent higher sales in this festive season

With an eye on the Indian diaspora, jewellery major Titan has outlined a store expansion plan. The company will add 20-30 Tanishq stores over the next two to three years in the Middle East and North America, C K Venkataraman, MD, Titan, said during the launch of a campaign on Thursday.

Titan expects its sales to be higher by 15-20 per cent this festive season compared to last year, Venkataraman said during the launch of its initiative "Titan Shaurya".

This will be the first festive quarter without Covid-19 related restrictions since 2019.

The "Titan Shaurya" initiative has been launched to make all Titan products across all brands accessible to Indian armed forces personnel.

More than 10,000 products across the country with a retail footprint of 2,000 stores will be accessible to the armed forces ranging from watches, jewellery, eyewear, perfumes and sarees. To avail the offer, the personnel or their dependents need to furnish the original canteen stores department (CSD) smart card at the time of purchase across any Titan retail outlet in the country.

"The upcoming festive season is expected to be very good. In fact, I've been told that the overall industry is also looking towards an exciting quarter," Venkataraman said.

The company expects the growth momentum to continue for a long time in the eyewear business. "The eyewear category is limitless and our market share is low. So the growth momentum is going to continue for a very long time," Venkataraman added further.

In the wearables business, he also expects growth to be at an exponential rate as it has an early mover advantage in the space.

Titan already enjoys a high market share in the watches business, and Venkataraman said that the company is pushing for growth in the segment and expects growth to improve.

During the launch event, he also unveiled the first look of special edition watches inspired by armed forces. The company is planning to launch this exclusive collection by March 2023 across online and on-ground retail stores in India.