Titan Industries is understood to be working extensively on a product roadmap that would pitch it directly against established Indian leather retailers in the organised segment.
According to people close to Titan Industries, the Bangalore-headquartered entity is carrying out in-depth market research to extend the ‘Titan’ brand into leather accessories such as clutches, belts and trifolds for women.
Though the company refused to specify the price points it would target, since it caters to the mid-premium and premium segments, it is likely the company would price its leather accessories in that range. This would pitch it against brands such as Hidesign and Baggit, which have multi-city presence.
Titan plans to venture into the leather accessories segment with smaller stock-keeping units (SKUs), and later explore stepping into larger SKUs such as regular handbags for women, laptop cases. This move to extend the brand to lifestyle accessories for women comes barely a few months after it launched leather accessories such as wallets and belts for men in select cities across south India. These products are now being readied for sale for presence in Mumbai and Delhi.
Ajoy Chawla, vice-president and global business head (Titan & Retail), Titan Industries, said the men’s range of leather accessories were priced at Rs 800-1,800 and, therefore, these compete with Fossil, Tommy Hilfiger and Hidesign. “We have not yet created women’s belts and trifolds, but we are closely looking at that segment,” he told Business Standard.
So far, Titan Industries has debuted 30 SKUs in the men’s leather accessories segment. Industry analysts said the company might look at creating a division for lifestyle accessories. Titan Industries, however, said it had no such plans.