Titan has declared to allocate a budget of Rs 100 cr for the opening of 50 premium watch outlets Helios in the next five years. This course of decision is basically to meet the sales target of Rs 400 cr.
"We have plans to open 50 outlets of Helios, which may involve an investment of close to Rs 100 crore in next five years," company's Vice President (Retail) Ajoy Chawla cited.
In the first round, the company would open 15 such outlets within a year across the country to enhance its presence. "We are looking to open Helios outlets in Mumbai, Delhi, Hyderabad, Kolkata, Chennai, Pune, Ahmedabad etc in next 12 months," he said.
The company would also explore options of opening stores through the franchise route, the outlets size would range between 1,500 sq. ft to 2,000 sq ft.
The market of the premium and luxury watches is around Rs 500 crore and has the potential to expand further, though it was hit hard due to recession last year. Helios houses 34 fashion and premium global watch brands including Emporio Armani, Burberry, FCUK, Movadao, Fossil, Guess, Casio, Seiko, and Titan etc.
Titan Industries is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation.