Titan Industries’ Titan Eye Plus eyes 30% revenue growth in current fiscal

Titan Industries’ flagship wing - Titan Eye Plus, an eyewear retail chain, is eyeing 30% revenue growth in the current fiscal and will also sharpen focus on the sunglasses category this summer. The company’s business in this category grew by 20% last year. The company in order to push sales from sunglasses is working on improving merchandise (product offerings) and re-doing the sunglasses section in the Titan Eye Plus stores. This summer it has added 70 new models under ‘Glares’ brand. The company also sells international brands like RayBan, Vogue, Espirit, Tommy Hilfiger, Mont Blanc and Bvlgari apart from selling its in-house brands like Fastrack and Glares. Further, the company will add up to 60 new stores this fiscal to the existing network of over 270 stores across India. Most of the new stores will be franchised. Also in order to improve faster delivery of finished products it is looking at setting up new manufacturing facility for lenses in North India by 2014. At present, all of Titan Eye Plus lenses are sourced from its manufacturing plant in Bangalore.