Titan Industries Revealed Limited Franchise Opportunity
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After watches, India’s Titan is planning to take its jewellery retail business to international markets by end of its next financial year.
Firstly, the Bengaluru-headquartered company is looking at franchising forays into the Asian market, says Titan Company MD Bhaskar Bhat.
“The watches business has a minuscule presence in the international markets,” he says. “The big change will come when our jewellery becomes international.”
Given that jewellery is a low-margin business unlike watches, the company will not make large investments to enter these geographies, but instead opt for a low-cost franchise model. “These stores will be launched on a partnership basis,” says Bhat.
Jewellery accounts for around 75 per cent of Titan, which also sells watches, eyewear, fragrance and even sarees. It will be the company’s second bid to enter the global markets in the jewellery segment. By focusing on Asia, the company wants to test the model before taking it to other geographies.
Questions & Answers
Q.When does Titan Industries plan to expand its jewellery retail business internationally?
When does Titan Industries plan to expand its jewellery retail business internationally?
The company aims to take its jewellery retail business to international markets by the end of its next financial year. This follows its previous expansion efforts in the watch segment.
Q.How will Titan Industries enter international jewellery markets?
How will Titan Industries enter international jewellery markets?
The company will use a low-cost franchise model, launching stores on a partnership basis. This strategy avoids large investments, suitable for the low-margin jewellery business.
Q.Which markets will Titan Industries target first for its international jewellery expansion?
Which markets will Titan Industries target first for its international jewellery expansion?
Titan Industries will first focus its franchising efforts on the Asian market. This approach is intended to test the model before expanding into other regions globally.
Q.What proportion of Titan's business does jewellery currently represent?
What proportion of Titan's business does jewellery currently represent?
Jewellery accounts for approximately 75 per cent of Titan's total business operations. The company also sells watches, eyewear, fragrance, and sarees as part of its diverse portfolio.
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