The international portfolio currently generates around 10 per cent
of the revenue in the watches division for the Bengaluru-headquartered company.
Titan
is eyeing an expansion in its international range offering by launching at
least three collections in the category this year. The company has already
launched one collection called ‘Anne Klein Considered’ in the price range of Rs
9,500 to Rs 15,000.
The international portfolio currently generates around 10 per cent of the
revenue in the watch’s division for the Bengaluru-headquartered company, which
is looking to grow by adding new collections to its range.
“The growth in the
international brands segment is very healthy and we are hoping to continue
that,” said Suparna Mitra, CEO, Watches and Wearables Division, at Titan.
For the last three
years, the segment has witnessed a CAGR of 25 per cent.
Titan currently
has an exclusive licence for four international brands including Tommy
Hilfiger, Kenneth Kohl, Anne Klein, and Police in India. “The continued investment
in creating a portfolio of licensed brands which complement own brands will
continue to attract evolving and new customer segments,” said the company.
Its latest
environment friendly Anne Klein watches
will be available in 70 stores across India including Helios, World of Titan,
Shoppers Stop and Lifestyle. The timepieces will also be available on ecommerce
websites including Amazon and Flipkart.
The watches and
wearables segment were in the slow lane for Titan with revenue in May and June
at 5 per cent and marginally over 20 per cent compared to the corresponding
months of the previous year.
“Our number one
priority in the division now is to get back to pre-Covid level sales as fast as
possible which will not happen immediately but that is what we are geared up
for,” said Mitra.
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