Titan Industries is planning a Rs 100-crore capital expenditure during the current financial year.
Most of it will be spent on expanding the retail footprint of the company’s brands Tanishq, Titan, Fastrack and Titan Eye+, said Mr Bhaskar Bhat, Managing Director.
On Wednesday, the company launched its first large format store for its jewellery retail brand Tanishq in Chennai. The showroom is spread over 20,000 sq.ft and has stocks of jewellery worth Rs 40 crore.
Tanishq has a national footprint with 117 exclusive boutiques in 78 cities. Out of these, 95 stores are franchisee-run.
Announcing the launch of the company-run large format store, Mr Bhat said Tanishq plans to open three more such stores in major cities. Tanishq accounts for more than two-thirds of the company’s turnover of Rs 3,832 crore.
Titan Industries is a watch, jewellery, eyewear and precision engineering company, jointly promoted by Tamil Nadu Industrial Development Corporation and the Tata group.
Source: The Hindu Business Line
