Titan Industries, a corporate operating business in watches, jewellery and eyewear categories, has targeted a stronger retail expansion for the fiscal year 2011-12 of opening 250 stores, as compared to 150 stores planned for launch in 2010-11. The expansion will involve a mix of its watch and jewellery outfits in India.
It plans to expand the base of its jewellery retail chain Tanishq by around 20 stores, and add six to seven stores for its mass-market jewellery brand Goldplus. Goldplus brand is targeted at smaller towns in India, and at present there are 29 Goldplus retail stores. The new stores are planned in tier II and III towns. The company wants to increase the number of its Titan watche stores by around 30-40 outfits, and will lay emphasis on opening more numbers of its newer store formats - Helios, Eyeplus and Fastrack. It intends to take its high-end multi-brand watch chain - Helios from the current three stores to 40, an additional 60-70 Fastrack stores which retail casual range of watches and accessories.
Titan Industries had 646 stores under operation pan as of February-end, reports suggest.