Titan Industries expects 25 percent growth in watches sales

Kolkata, March 3 (IANS) Jewellery-to-watch maker Titan Industries expects a growth of 25 percent in watches sales in 2010-11 financial year, up from a 17 percent growth expected in 2009-10, a top company official said here Wednesday.

The company expects a revenue of Rs.3,300-3,500 crore from jewellery, Rs.1,100 crore from watches and Rs.150 crore from other operations, namely precision engineering in 2009-10, the company’s managing director Bhaskar Bhat said here at a press conference.

‘Our revenue growth from watches would be higher next year than what we expect this year as we keep on introducing more products in the premium segments,’ he said, inaugurating a Titan showroom here.

The jewellery division is expected to post a growth of 30 percent this fiscal and 30-35 percent next fiscal.

He said the average price of its just-introduced Purple range is close to double of its Titan range of watches.

‘We will continue to focus on our value-for money Sonata range, but the higher range of watches is where most of our revenues are coming from,’ Bhat said.

Talking about export market, Bhat said Titan is exploring South Africa to sell its Titan range.

At present, the company sells watches to the Middle East, and to Singapore, Thailand and Vietnam under its Indian brands as well as some locally developed brands.

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