- 21 Sep 2022
- ICICIdirect Research
TITAN TO ENHANCE FOCUS ON SMART EYEWEAR, CONTINUE TO AGGRESSIVELY EXPAND RETAIL FOOTPRINT
TITAN - 3356 Change: -0.60 (-0.02 %)News:
As per media reports, Titan’s eyewear division, Titan Eyeplus, is sharpening its focus on the smart eyewear category with the youth segment in mind to increase market share. Also, the company is planning to aggressively expand its retail footprint over the next few quarters.
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The company is positioning its Fastrack brand to address the youth segment. The company believes that Smart sunglasses is probably the next big opportunity. Titan has already received a positive response from the few thousand units that have been launched. The company is also planning to set up its ownh eyewear stores in Dubai and the Gulf Cooperation Council regions. The aim is to have about two stores in Dubai in FY23. Titan’s eyewear category has 824 exclusive outlets, which is expected to increase to 850 by month-end. The company is planning to reach its target of having 1,000 stores the by the end of this fiscal. The launch of new products and aggressive retail footprint expansion will enable the company to garner higher wallet share of the customer and provide thrust to the revenues from the eyewear segment.
Impact:
Positive.