Mumbai: Tata group company Titan Industries plans to augment its store network across India by adding nearly 40 Titan stores by March 2010, company’s COO Harish Bhat said.
“We plan to add 40 stores, of which half would be company-owned and the balance franchisee stores. For our ‘World of Titan´ stores, we have earmarked Rs 50-lakh per store,” Bhat told PTI here.
Titan has identified Chennai, Delhi, Kolkata, Salem, Pune and Madurai, among other locations for setting up its stores.
At present, the company has 260 stores. It plans to have a 275-strong network by end-March 2009. Of the existing 260 stores, 10 per cent are company-owned and 90 per cent are franchisee stores.
The global meltdown had not hit the company’s business, Bhat said.
“There are a few sectors such as automobiles, real estate and those selling high-value goods that have been affected by the on-going economic slowdown. But we should not paint all industries with the same brush--there is no recession-like effect on any of our categories,” Bhat said.