Titan Industries plans to set up 8-10 'concept stores' for both watches and jewellery in the country with an investment of Rs 15-20 crore per store. While a few of the stores would be run on a franchisee basis, others would be company-owned. "We are starting to roll out a new retail identity for our watches and jewellery segment," said Mr C K Venkataraman, chief operating officer, Titan Industries. The company opened its second concept store in the capital. These stores are being launched after a customer study on jewellery retailing in India and overseas.
The annual growth of the jewellery segment of the company is around 60 per cent and for the watches segment, around 30 per cent. The company is targeting a turnover of Rs 2,000 crore this year. It clocked a turnover of Rs 1,481 crore last fiscal. The jewellery segment accounted for 52 per cent of the total turnover last fiscal.