SME Times News Bureau | 17 Dec, 2013
Leading retail chain Titan Industries Ltd Monday opened its
1,000 store here, becoming the first Indian firm to have a thousand outlets
across the country in seven formats.
"It has been a fascinating journey for us since 1988 when we opened our
first watch store in this tech city. It was a bold step then when consumer
products and retail market were unorganised and underserved," Titan
managing director Bhaskar Bhat told reporters on the occasion.
With a retail footprint in 177 cities across 26 states and a retail area of
13,95,712 sq ft, Titan has stores for watches under World of Titan, Helios and
Fastrack, jewellery under retail brands Tanishq, Zoya and GoldPlus and Eye Plus
for multi-brand eyewear.
"As our manufacturing expertise produced world-class products, we
envisioned an elevating experience for customers when buying. This is where we
saw an opportunity to start retailing through our stores, which worked well for
us," Bhat said.
In a retail journey spanning a quarter century, Titan has changed the retail
fabric of the country, he said.
"For us, retail is beyond stores, which has become our company's face to
consumers across country and a commitment to deliver service and experience
through human and technological intervention," Bhat noted.
Noting that technology changed the rules of the game, Bhat said laser engraving
service at watches store, Karatmeter at jewellery stores and visual map
developer at eyewear stores had given the company a competitive edge in the
retail space.
As a joint venture of the Tata group with the state-run Tamil Nadu Industrial
Development Corporation (Tidco), Titan recently entered the fragrances segment
with Skinn and forayed into making helmets under its Fastrack brand.
The company posted 15 percent growth in fiscal 2012-13 with net sales of
Rs.10,009 crore.