By redefining the eyewear retailing business in India, Titan Eye+ is all set to create ripples nationwide by opening 50 more outlets by next year.
SUBSEQUENT to watches, sunglasses and jewellery, Titan Industries Limited forayed into eyewear business under the title Titan Eye+ in March, 2007. The move was an initiative to re-define the industry and straddle the marketplace with exacting quality standards, unparalleled in India's eyewear industry.
Presently, Titan Eye+ offers an extensive range of stylish and contemporary eyewear through exclusive eyewear stores across the country. Benchmarked against the best in the world, Titan Eye+ offers international quality standards and practices, coupled with various aspects such as transparency in pricing of frames, lenses, sunglasses and a wide range of brands.
The company's association with Shankara Netralaya aims to ensure 'Zero error eye testing' to all customers through a state-of-the-art optometry clinic. Titan Industries historically has ventured into all its business through franchise model. All its businesses have successfully grown and become market leaders by rendering tangible benefits to customers across all sections.
A promising deal!
By revolutionising the eyewear industry from a basic utility to an aspirational fashion accessory, Titan Eye+ has taken the first move advantage by introducing collection-based frames. The brand operates through a multi-brand outlet. As far as brand's promotion is concerned, Titan Eye+ spends heavily on advertisement through various brand campaigns.
Presently, the brand has 185 stores functional across 62 cities. Talking about its growth this year, S Ravi Kant, COO, Eyewear Division, Titan Industries Ltd, says: “We have grown from 50 stores to over 100 franchise retail stores within this fiscal. Our existing franchisees have keenly taken up multiple stores with over 10 franchisees managing the multiple stores.” The brand also plans to open over 50 outlets by next year.
Investment: Rs 30-50 lakh
Area: 550-800 sq.ft
ROI: 15 pc
Break-even: 1 year
Number of outlets opened in 2011: 90