Titan Industries, the Rs 725-crore (Rs 7.25 billion) manufacturer of branded watches, plans to diversify into the production of coloured sun glasses and leather accessories besides boosting exports, TIL managing director Bhaskar Bhat said in Kolkata Saturday.
Speaking to newsmen at the launch of the company's 145th exclusive retail outlet in the country, Bhat said TIL plans to launch both the products in Bangalore and Mumbai on a trial basis.
On the basis of the brief trial run, Titan branded Sun Glasses and a wide variety of leather accessories will make their appearances in other major cities, too, by December next year, Bhat said.
He said the company has no plan to outsource the new products, but decided to exclusively manufacture them in TIL's own plants in Guntur and Ooty in Tamil Nadu.
Bhat said by March 2003, TIL's sales figure will cross the Rs 850-crore (Rs 8.5 billion) mark from Rs 725 crore (Rs 7.25 billion) last year.
UNI