Titan Industries, the Rs 1,500 crore watch and jewellery major, has announced its plans to get into prescription eyewear business. | |
| Titan is already into the sunglasses business through its Fastrack brand that taps the youth. The company has also recently initiated a foray into the premium sunglasses segment under the Titan Shades brand. |
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| According to company officials, the market mapping has already done for the foray. "We are in the process of getting shareholders' approval for expansion plans. However, we are yet to decide on the quantum of investment and branding strategy," the official noted. |
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| Titan in the recent past has been successfully foraying into accessories businesses. "Fastrack is an amazing success and the foray into prescription eyewear is a logical expansion," he added. |
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| The company recently extended the Titan brand into a product category beyond watches with the pilot-launch of Titan Shades, a premium range of sunglasses. In the mid price segment (Rs 700 - Rs 2000), Titan's youth brand Fastrack EyeGear, is a dominant player. |
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| The upper-end of the market is currently in the domain of international brands with limited product offerings in India. |
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| "There is currently a strong need in the Indian market for a brand that offers a vast array of products that are more evolved and serious in terms of styling and details,"Said a Titan official. |
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| Consumers today are more style conscious and aware of international design trends. |
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| With large disposable incomes becoming the norm in most parts of India, the consumers want brands that offer them a wide choice of products." |
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