Titan entering eyewear market with lenses and spectacles

31 March 2007

Mumbai: Titan Industries will enter the prescription eyewear segment and open around 150 outlets in the next 3-4 years. The company will launch eyewear, including spectacles and lenses, under its new brand `Titan Eye+' as well sell its `Fastrack' range of sunglasses and other global brands.

Titan Eye+ stores will also provide services like eye check-ups and style consultancy. This will be the company's third business after watches and jewellery.

The stores will also sell sunglasses under its homebrand Fastrack and a host of other global brands like Vogue, Esprit, Gucci, Dior, Prada, Adidas, Police, and contact lens under the company's own brand and other established brands like Bausch & Lomb, J&J, Silklens. The stores will sell both prescription and cosmetic lenses.

The first Titan Eye+ store will open in Bangalore next week and, by the end of April, the company will have five stores in Bangalore and Nagpur.

Titan, which is investing Rs15-20 crore initially in this venture, has tied up with Essilor and Nikon for lenses and with several international vendors for spectacle frames.

The company expects revenues of Rs15 crore from the business in the first year itself and projects contribution from the eyewear business at 15 per cent of Titan's total turnover in five years.