Titan Eyeplus plans overseas and digital foray

Titan Eyeplus, an eyewear retail chain, is planning overseas foray, initially to Sri Lanka and Bangladesh, besides exploring to tap the digital platform to expand its footprint.
"We are thinking of expanding overseas. Initially, in the neighbouring countries like Bangladesh and Sri Lanka which are somewhat similar to Indian market," Titan Company Eyewear division CEO Ronnie Talati said here today.
He, however, did not specify by when the eyewear company will foray in these markets.
Talati was in the city to launch the 100th eyeplus store in eastern India at Dum Dum in the city.
Part of Titan Company, Titan Eyeplus manages 400 retail stores across the country and along with expanding more physical stores it hopes to introduce digital platform channel.

Talati said online is being planned and a detailed digital strategy will be unveiled in the near future.

"We are now focussing on moving in to tier II, III and smaller cities and towns in terms of expanding physical stores in the north east, Jharkhand, Odhisa and Bihar," Titan regional head Rajeswari Srinivasan said.
Talati said brick and mortar will continue to be the most import channel for the company.
Meanwhile, Titan has set up a satellite lens processing unit at Madhyamgram in West Bengal's North 24 Parganas district at a cost of Rs 5 crore and is planning to set up two in North and West region to shorten logistics time to deliver lens.

The main lens manufacturing plant is at Bengaluru.
About financials, Talati said Q3 was bad but the market seems to have improved in January and is expected to do well.
In April-December 2015, Eyeplus did a business of Rs 400 crore, up by 17 per cent over corresponding period.