Titan Eyeplus is looking to expand its retail footprint in Tier-III, IV cities, even as it focuses on strengthening its own (spectacles) frame manufacturing and lens-making facilities.
Titan Eyeplus will supplement its lens-making facility at Bengaluru with smaller regional units.
Presently, two such smaller facilities have come up, one each in Noida and Kolkata, and a third at Mumbai is expected to be operational by July 2016.
Each smaller unit, called satellite lens manufacturing facility, will come up at a cost of Rs 4-5 crore and will have the capacity of manufacturing 400 pieces per day.
Titan’s own frames manufacturing facility will come up at Bengaluru at a cost of Rs 27-30 crore and will have an annual capacity of one million.
In 2016, the company will look to add 100 new stores.
Expansion will include foray into 50 new Tier-III and IV towns and also strengthening of the company’s presence in existing areas.