A Tata group company, Titan Company Ltd. has announced that it will venture into women’s ethnic wear segment on a pilot basis. Initially, the company would try to understand consumer attitudes and preferences. It would also set up few stores during the one-year pilot period. Titan already has presence in several personal lifestyle categories.
“The company has since inception been exploring opportunities in personal lifestyle categories. One such category is special occasion ethnic wear for women which will now be piloted for understanding consumer attitudes and preferences,” Titan said.
“The pilot, which may include setting up a few stores, is expected to last about 12 months at the end of which the company will take a decision on the future course of action,” the company added.
Titan is currently present in several personal lifestyle categories. These include watches under Titan brand, eyewear under Titan Eye Plus brand and jewellery under Tanishq brand.
For financial year 2015-16, Titan reported net profit of Rs.705.85 crore compared with Rs.823.07 crore in the previous year. Titan’s net sales in the year ended March 31, stood at Rs.11,176.9 crore as against Rs.11,791.04 crore in the previous fiscal year.
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