Fastrack plans to have 50 stores in India by April 2010

HYDERABA: Fastrack, a fashion accessories brand from Titan Industries Ltd is mulling to take the number of its exclusive stores to 50 across the country by April 2010, from 13 at present.

According to Fastrack Vice President and Head Ronnie Talati, most of the outlets would be operated on franchisee model with an investment of Rs 40-50 lakh, and a floor space of 400-500 sft.

The brand, whose mainstay is watches and sunglasses, forayed into accessories like belts, hats and bags this year and expects to reach a sales figure of Rs 360 crore with a growth rate of 25 per cent over last year.

"The sales revenues from accessories would contribute 15-20 per cent to our revenues over the next five years," Talati told reporters on the launch of two new stores here.

The brand would roll out more designs and models of various accessories like bags, belts, and leatherettes every month, Talati said, adding that they have no intention of bringing foreign brands to India.

The company has sold 1.5 million watches and half a million sunglasses this year, he said.

Titan has been selling Tommy Hilfiger and Hugo Boss range of watches in India.