30750 Investors following Titan Ind. Share this News with them.
0
Like this story, share it with millions of investors on M3
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.
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.
For now, it plans to ramp up sourcing of components from indigenous suppliers and manufacturers from Hong Kong (currently, the company outsources a small part of its component requirements).
Sonata has a manufacturing facility in Hosur (near Bangalore) and assembly capacities in Hosur, Ooty, Dehra Dun and Himachal Pradesh. Last year, it manufactured 4.3 million watches and looks to increase that to 5 millions this fiscal year, said Mr C. Srinivasan, Vice-President and SBU Head, Sonata.
Steel `n' style
As part of its marketing strategy, the company plans to project itself as a more vibrant brand in the mass brands segment, with a focus on urban markets. Of special interest is the steel watches segment, which Mr Srinivasan believes is a "growing category."