Titan Company’s brand Fastrack expects Rs 1,000 crore revenues for current fiscal

Titan Company’s fashion brand- Fastrack, expects its turnover for the current fiscal to be around Rs 1,000 crore as against Rs 800 crore in the previous fiscal. The brand plans to add 70 newly-designed stores to its existing 157 stores. The company generally spends around five percent of the turnover on advertisements and brand building. The brand is also looking at entering into new categories and would add a new category in the next two years. The leading fashion brand has recently introduced a new range of accessories for the summer with trendy sunglasses and backpacks. Fastrack sunglasses are priced from Rs 1,195 to Rs 2,295, the collection comprises of Aviators, Wayfarers and Sporty wraps while the backpacks are priced from Rs 1,195 to Rs 4,395. Titan is India’s largest manufacturer of quartz watches and has a 60% market share in the Indian market. It is world’s sixth largest manufacturer of branded watches. It has a manufacturing and assembly unit at Hosur in Tamil Nadu.