By BL Bengaluru Bureau Comments READ LATER Lifestyle accessories major, Titan Company Ltd , plans to exit the belts and wallets category, which was launched over a decade ago, by next year. The company, which primarily operates in the jewellery, watches and eyewear categories, has also diversified into wearables, Indian dress wear, fragrances and fashion accessories with the launch of brands like Skinn, IRTH, Taneira, Bags by Fastrack and Titan Belts and Watches. Manish Gupta, CEO, Fragrance and Fashion accessories division at Titan Company Ltd, said, “Titan Belts and Wallets are available in all large format stores like lifestyle and shoppers stop.
In these stores, we enjoy a share of about 40 per cent. Our whole purpose of being in this category is to exist in our own stores like Titan World and Fastrack. But we have huge space constraints there.
And it’s also not a core category of ours. It’s a great place to be in; we have done a fantastic job in the past 10 years. But from commercial viability and relevance point of view from our Excel Branded Outlets (EBOs), we are exiting the category.
” According to the company, the market size of perfumes in India is around ₹2,500 crore and Titan fragrances holds about 10 to 12 per cent of this market share. Furthermore, its current revenue is around ₹200 crore from this segment, with a customer base of 2 million consumers. By FY27, Titan’s fragrances category aims to become a ₹500 crore brand - Skinn and Fastrack frag.
