Watch major Titan is betting big on its sub-brands to drive growth in the coming years. While Raga, the women's range, has recently been repositioned and is expected to contribute close to 40 per cent to the brand turnover compared with 25 per cent last year, niche brands like Edge and Nebula too are positioned for growth.
Ajoy Chawla, business head (Titan), Titan Industries, said Edge, the slim watch, would grow by 100 per cent this financial year. "While it is growing on a small base, we expect it to do business of about Rs 50 crore this year," said Chawla. He expects it to grow at 50 per cent over the next few years to be a Rs 100-crore brand in three-four years.
Sales of Nebula, which is a gold and precious stones studded watch, too are expected to pick up with the wedding season. About 15 per cent of Titan's annual revenue is generated in this one month. Chawla said the company was aiming for 20-per cent growth in top line this year. So far. with new communication and product launches, the company is on track to achieve that, Chawla added.
"Over the next few years, our thrust areas will be Raga and our women's range, which we think has the potential to contribute up to 50 per cent of the brand turnover," said Chawla. From the time the new ad campaign featuring brand ambassador Rani Mukherji was launched in June, there has been a spurt in sales and is expected to be a Rs 150-crore brand by the end of the year.
Apart from these brands, the other watch brands from Titan Industries are Fastrack, which is targeted at the youth, Sonata, the value brand, and Xylys at the premium end. The company will also be expanding the distribution network for Xylys, which currently is available at about 50 outlets in the top few metros to another five cities.