The optical retail chain of Titan Industries, Titan Eye Plus, is looking to double its store network from the current 210 to 420 in the next five years.
“We see retail outlets doubling in next five years where we will expand in both models, company-owned and franchise,” said Saumen Bhaumik, associate vice-president, Titan Industries.
“Despite the vulnerable purchasing sentiments, we expect to grow 20-25% in the next two-three years,” said Bhaumik. “We are also looking to open 30-40 stores by the end of the current fiscal.”
The company also plans to establish its second manufacturing unit in the country.
According to the industry estimates, prescription eyewear business is close to around Rs. 2,800 crore and is growing at an annual growth rate of 15-20%.