Titan eyes 25% jump in topline in FY11


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Watch and jewellery maker Titan Industries has lined up Rs 150 crore capex for the current fiscal to expand its retail network across all its formats even as it expects a healthy 25 per cent jump in its topline in FY11. Titan Industries currently has 600-odd retail outlets in the country across all formats such as Titan World, Tanishq, Fastrack and Eye+ among others. It plans to add another 100 stores by end-this fiscal.

The growth will be driven by good festive sales of around 30 per cent and continued robust performance in its watch and jewellery business besides growth in exports. Titan, which exports its watches to South Africa, is now looking at entering new geographies in Asia, mostly south- East Asian countries such as Malaysia, Vietnam and Singapore. Currently, exports comprise only 8 per cent of the total revenues. It expects that (exports from watches) to grow to 12 per cent by FY13.

Source : News Reports

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