Indian luxury watchmaker Titan Watches is setting its sights on the eyewear sector as part of its rapid expansion in the GCC.
The company will launch 10 outlets in the UAE within the next two years.
The first store- the third in the capital- will open in Abu Dhabi’s Khalidiyah Mall on Wednesday. Another store will open in the UAE capital later this year.
“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,” said Aditya Kejriwal, business head for watches and accessories in the international business division of Titan Watches.
The new expansion plans result from the surging demand in the GCC market at large and among the Emirati and other expat communities in the UAE in particular, said Mr Kejriwal.
Besides the UAE, Tata Group’s Titan Watches is eyeing expansion in other regional markets, including Oman and Kuwait.
In addition to brick-and-mortar stores, Titan Watches will also focus on e-commerce, operating through Amazon, Noon and Namshi.
“The resounding success we have seen in our two existing stores in Madinat Zayed and Mazyad mall in the last 18 months gave us the impetus to focus on Abu Dhabi as a key market. We’ve carefully observed consumer behavior and preferences and tailor-made the offering in the new store to cater to these distinct and discerning buyers in the capital,” said Mr Kejriwal.
He said that the company’s focus on this key market in the region can result in the brand growing at a compound annual growth rate of 35 per cent between now and 2024.
“The fashion-conscious customers in the UAE are certainly inspirational to a lifestyle brand like ours so we’re always looking to push the envelope and showcase our international design ethos, superior craftsmanship and innovation to a wider audience”, he added.