Tata Group company and leading watches retailer, Titan Industries, is targeting a sale of one crore watches and plans to scale up its retail outlets to 260 by the end of this fiscal, a top company official said.

"Last year, we sold over 8 million watches. Our target for FY 08 is to sell over 10 million watches and over the next three years, around 16-18-million watches," Titan's chief operating officer (watches) Harish Bhat told PTI here.

The company will also bolster its retail network and plans to have 260 outlets from the present 225 by this fiscal end, he said.

"We are aiming for a handsome two-digit level growth going forward. We envisage a 25-per cent growth per annum over the next three-year period," he said.

Titan, a joint venture between the Tata group and Tamil Nadu Industrial Development Corporation, presently enjoys a 70-per cent of watches market and clocked a turnover of Rs2,136 crore in last fiscal.

Presently, the company has a manufacturing capacity of 11 million watches per annum and plans to ramp up capacity as the sales grow, Bhat said.

The company aims to boost its sales during Diwali and other upcoming festivals by launching six new collections of watches along with a package of value-added offerings.

"The Diwali season is the busiest season and through our offerings, we hope to garner at least 30 per cent of our total sales revenue for the year during this period," Bhat said.