TITAN Jewellery and watch segment to expand by $26 MN

TATA Group is planning to spend Rs.120 crore ($26 million) to boost the retailing operations of its watch division Titan Industries, which also oversees Tanishq, its jewellery business group over the next year. Tanishq is planning a foray into the US jewellery market in 2007.

According to reports C.K. Venkataraman, the chief operating officer of Titan Industries claimed that a new retail identity is being given to brands Titan and jewellery Tanishq for which larger format exclusive stores are being planned. About 10 stores would be opened by next year. The stores will average 2,000 sq ft, at an average investment of Rs.12 crore ($2.5 million) for each.