India's largest watch brand Titan is all set to enter the United States through a partnership with e-commerce giant Amazon. The Seattle-based e-commerce firm will take Titan to the US customers through its global selling program.
Titan currently has a market in 31 countries and while Amazon will help the brand enter the US for now, the e-commerce firm later plans to expand the Indian watch maker's market to Europe and Japan as well.
"Titan will sell through the FBA (Fulfilled By Amazon) programme which will enable the products for one and two day shipping across US. We will soon expand the selection to United Kingdom and Germany in Europe as well as Japan," ET Tech quoted Gopal Pillai, director and GM – Seller Services, Amazon India, as saying.
The Bengaluru-based firm intends to go slow as of now and will retail only the Titan and Fastrack brands. It may expand its product line to jewellery among other things at a later stage, depending on the success of its initial venture.
"We will launch 500 stock keeping units initially and the price positioning will be between $30-$300," S Ravi Kant, CEO of Watches and accessories at Titan, added.
Ravi Kant also spoke about Titan's decision to foray into the US market and said that the brand had decided to stay away as there were already numerous players in the market, but e-commerce bodes well for the firm. "It is a channel that already has built consumers, the entire responsibility of building traffic comes onto the brand. Hence participating in this channel is really the best way (to enter such a market)," he explained.
Apart from the US, Titan is also looking at entering other countries such as Mexico, Canada, Vietnam and Philippines.
As opposed to the 10 percent revenue that Titan earns from offshore markets, "we will look at a larger revenue share coming from international markets in the next 2-3 years. We should be able to grow our international revenues to at least 15% in the next 3 years," Ravi Kant added.
Meanwhile, Titan is not the first brand that has partnered with Amazon to expand its market to the US. Earlier, the e-commerce firm has tied up with Indian firms such as Amul, Fabindia and Himalaya to name a few.
