Fastrack is now moving into a new category of bags, belts, wallets and wristbands. Fastrack shot to fame with its range of wrist gear and sunglasses.
Titan Industries, the company behind the brand, is also launching exclusive Fastrack stores with the first one slated to open in Pune tomorrow.
Titan plans 50 Fastrack stores across 25 cities by April 2010, in mostly metros and university-cities like Mysore and Baroda. The company is concentrating on tier-two and three cities where the effect of the meltdown has been low due to their income being tied up with agriculture.
''With the accessories market growing 15-18 per cent year-on-year, and the branded segment in particular seeing a growth of more than 25 per cent, we saw an opportunity for Fastrack to expand its portfolio,'' says Bhaskar Bhat, managing director, Titan Industries Ltd.
He added that the stores would be a mix of company-owned and franchisee model, with each one involving an investment of Rs 35-40 lakh.
Advertising agency Lowe will handle the communication for the new categories of Fastrack.