Titan to foray into women's ethnic wear segment

Tata group firm Titan today said it will foray into women's ethnic wear segment on a pilot basis.
"The company has since inception been exploring opportunities in personal lifestyle categories. One such category is special occasion ethnic wear for women which will now be piloted for understanding consumer attitudes and preferences," Titan Company Ltd said in a BSE filing.
It further said: "The pilot, which may include setting up a few stores, is expected to last about 12 months at the end of which the company will take a decision on the future course of action."
At present, Titan has presence in several personal lifestyle categories including jewelery under Tanishq brand, eyewear under Titan Eye Plus brand and watches under Titan brand.

For financial year 2015-16, Titan reported net profit of Rs 705.85 crore compared with Rs 823.07 crore in the previous year. Titan's net sales in the year ended March 31, 2016, stood at Rs 11,176.9 crore as against Rs 11,791.04 crore in the previous fiscal year.