Diversified consumer product conglomerate, Titan Industries, has plans to add around 108 outlets in its key verticals of jewellery, watches and eye-gear to reach the total strength of retail outlets of 700 by end the of this financial year. The company had reached a total outlet strength of 592 by end of the second quarter of the current financial year.
“We do have a capital expenditure plan of around Rs 169 crore for the current financial year. We have already expended around Rs 100 crore and the rest will be utilised to reach a target of 700 in the remaining part of this financial year,” said Bhaskar Bhat, Managing Director of Titan Industries, on the sidelines of unveiling a ‘Goldplus-Nano’ campaign here.
As per the new branding exercise, the company will design a Nano car with gold jewellery, which will travel in the tier-III and tier-IV cities of the country to allure customers towards the gold plus brand. Gold plus jewellery brand is a special segment under Tanishq, targeting middle class consumers in small cities.
“While we plan to add another 20 outlets in the coming year under Tanishq, five outlets will be added in the gold plus category,” he said.
