Titan Watches, part of Indian conglomerate Tata Group, is set to embark on another round of expansion in the UAE, with plans to open 10 new exclusive outlets over the next 16-20 month period.
The leading Indian watchmaker – fifth largest globally – is also gearing up to foray into the eye wear market in the Gulf country, with plans to launch its range of sunglasses in Dubai soon.
The latest round of expansion will see the Tata arm opening as many five exclusive retail outlets in the UAE in the next 4-month period and another five by 2024, besides expanding its network in other GCC markets such as Oman and Kuwait.
The company also has plans to aggressively expand its presence in the e-commerce segment, with more tie-ups and product offerings.
The aggressive retail push through a mix of new exclusive outlet launches, expansion of points of sales and stepping up of e-commerce trade is part of Titan’s strategy to brand to grow its Middle East business at a compound annual growth rate of 35 percent from now until 2024, said Aditya Kejriwal, business head for watches and accessories in the International Business Division of Titan Company.
Of the new showroom openings planned for this year, the first will be opened in Abu Dhabi’s popular Khalidiyah mall on Wednesday, followed by another one in the UAE capital a few weeks later.
The Tata arm also will open three new retail outlets in Dubai and Sharjah over the next four-month period, which will take its total number of exclusive showrooms in the UAE to 20.
“The Abu Dhabi market will be among the focus markets for us from now on, as we have registered resounding success with our existing two exclusive retail outlets in the emirate,” Kejriwal said.
Kejriwal said the new expansion plans also followed the growing acceptance of its products by the Emirati and other expat communities in the UAE and the wider GCC market.
As part of its GCC expansion, the Tata arm has entered into partnerships with Khimji Ramdas LLC in Oman and the Al Batel group in Kuwait to market its products through their vast network.
As for its e-commerce expansion plans, the company has been working with Jumia to increase its presence across Africa.
It already has a major e-commerce presence across the GCC through Amazon.ae, Noon and Namshi.
Titan is gearing up for its next round of expansion in the Gulf region, even as its jewellery arm Tanishq is scripting an equally aggressive growth plan in the Middle East market.
“Kuruvilla Markose, CEO-International Business Division of Titan, earlier told Arabian Business that GCC expansion was on the horizon for Tanishq and that the company was exploring strategic locations in Qatar and Oman for foraying into these markets.
“If all goes as planned we can expect to go regional in Q2, 2023,” Markose said earlier.
Markose also said Titan had plans to set up an international hub in Dubai to cater to the Middle East and other regions around the world.
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