Mr. Chawla, Business Head said,
We would like to open 2-3 more stores in Malaysia more kiosks in Bangkok depending upon the success and acceptability of the current two. 4-5 stores in Bangladesh and a store in Colombo, Sri Lanka. Overall we believe retail is a way forward for several of these countries.
Titan is considering building a distribution network in Pakistan though it has to first get the confidence of brand liking by the local consumers. They are also exploring to open shop in Singapore. They are facing intense competition in far east markets due to Swiss and Japanese watches having already captured most of the market. There are also “retail chains” which are very well accepted. Chinese brands per se have have not made any impact in these markets.
Hopefully, the Tatas will come up with some innovative designs, product localizations and strive to be an Indian MNC in watches.