Titan to become a billion dollar company
Tata group’s Titan Industries is aiming to become a billion dollar company by the end of this fiscal year.
The company has also charted out store expansion programs for its jewelry, watches and eye wear divisions in India, besides planning to enter the US market with the Tanishq brand of jewelry in the US by next month.
Last year the company had a turnover of Rs 3000 crore and this fiscal it is looking at crossing Rs 4000 crore mark and become a billion dollar company. Last year the company’s jewelry division had clocked about Rs 2000 crore revenue, while that of the watches was at about Rs 1000 crore.
Commenting on the company’s expansion plan this fiscal, Titan Industries ltd Vice-President Retail and Marketing V Govind Raj said the Tanishq jewelry store would be increased to 150 from the current 110. On its international expansion plans he said that the company would be launching its Tanishq brand of jewelry in the US market early next month. The company currently has presence in about 30 countries across the world.
Titan is currently in talks with leading international watches brands to bring them to India. It currently sells Hugo Boss and Tommy Hilfiger in India.