IndiaRetailBiz

Buoyed by excellent respose to its foray into prescription eyewear market, Tata group controlled Titan Industries, is looking at expanding the network of its Titan Eye+ speciality retail chain.

The country’s watch giant Titan, which is currently operating seven Titan Eye+ store across four cities (Bangalore-4, Chennai-1, Hyderabad-1 and Nagpur-1), is planning to open 100 stores in the next five years across the country.

Delhi, Chandigarh, Jaipur and Lucknow are among the North Indian cities where new Titan Eye + stores would be set up during this year.

Highly fragmented prescription eyewear market, which of late has begun attracting attention of organised retailers, is considered to be at around Rs. 1,800 crore, which is believed to be growing at a 15% per annum. Apart from prescription products, optical/ eyewear market also includes a wide range of optical products like frames, lenses, contact lenses, solutions and sunglasses.

Only about a week ago, Mukesh Ambani owned Reliance Retail has announced signing of a joint venture agreement with Pearle Europe of Netherland that will launch a retail chain of optical stores.