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Titan's Sonata plans outsourcing gambit
Sonata, the mass watch brand from Titan Industries, is looking to outsource manufacturing and assembling activities partially, may be next year, if economics and quality issues work in its favour.
Apart from focussing on `steel for the urban youth', Sonata is also sensing potential in the rural market. 'Seventy per cent of India does not own a watch, especially in the rural areas. This may be a long haul but rural India might open up a huge market. The ideal price point to tap this segment would be Rs 200, although it may not be possible cost wise,' said Mr Srinivasan.
The company is looking to finish the current fiscal with a turnover of Rs 225 crore (Rs 190 crore). It is also hoping to increase share in the mass category from 27 per cent to 40 per cent in 3-4 years.
Sonata contributes 35-40 per cent to Titan Industries' watch division sales.
