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Buoyed by the success of Tommy Hilfiger brand, which it brought into India, Tata group-controlled Titan Industries plans to introduce another two to three international brands into India in the next two to three years.
The growing market for the company has prompted it to start a new manufacturing facility in India and outsourcing of watches from neighbouring countries as well as increasing its retail presence by around 50 per cent in the coming fiscal.
The company will soon be opening a new facility in Rourkee with a manufacturing capacity of 2 to 3 million watches with an investment of Rs 10 crore and will be functional by 2007 end.
It has also opened a sourcing office in Hong Kong for outsourcing of watches from China, Korea and other such countries and has made significant progress in that regard with nearly 20 per cent of the production being sourced from these countries.
The world of Titan's network has increased to 250 from 170 last year and has plans to increase that to 275 by the end of this fiscal. The company, which has a manufacturing facility in Hosur, Tamil Nadu and an assembly unit in Dehradun, produces about 10 million watches currently.
Meanwhile, Titan has expanded its range in the sports wear category by introducing the Aviator series of watches. The new series, inspired from World War II fighter aircraft is targeted at the up-market, global Indian and has been priced between Rs 4,000 and Rs 7,000.