Titan Industries Ltd (Titan), one of the leading lifestyle brands with interests in watches, jewellery and eyeware, has set a $1 billion revenue target by the end of this fiscal, said Bhaskar Bhat, managing director, Titan Industries. This will be achieved through new products, more outlets in all three verticals and improved marketing exercises, he added.
Speaking to FE here on Monday, he said, ?We are looking at a 30% growth in topline as well as bottomline in the current fiscal.? For the year-ended March 31, 2008, Titan reported a turnover of Rs 3,041 crore with a net profit of Rs 150 crore, he said.
He said that both the watch and jewellery divisions are doing extremely well. ?The jewellery division contributes two-third of the overall sales while the rest comes from watch division. We hope eyeware sales turnover to treble from Rs 12 crore to Rs 50 crore in the current fiscal,? he said.
He said, ?We have opened an exclusive ?Tanishq? boutique in Chicago last month on a experimental basis and plan to open one more in New Jersey.? Titan will also start distributing watches in Pakistan, he added. Currently, global operations contribute less than 5% to Titan?s total sales.
