“The company has since inception been exploring opportunities in personal lifestyle categories. One such category is special occasion ethnicwear for women which will now be piloted for understanding consumer attitudes and preferences,” Titan said in a filing with the stock exchanges.
“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 said.
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.
Last fiscal, Titan’s net sales decreased to Rs 11,176.9 crore from Rs 11,791.04 crore in 2014-15. Net profit too dropped to Rs 705.85 crore from Rs 823.07 crore in the year ended March 31, 2015. (RKS)
ALCHEMPro News Desk – India
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