By Aarushi Singh
India's
iconic watch seller Titan will go to
the United States tagging along with the E-Commerce retailer Amazon offering 500 models, some of
them exclusive. Under the partnership, Amazon through its
'Global Selling Programme' will enable Titan take its vast range of watches to
millions of global customers across ethnicities on Amazon.com in the US and eventually across other Amazon
marketplaces.
Announcing the partnership on 8th august,
Titan CEO for watches and accessories Ravikanth said this would be maiden foray
into the US market with Titan already present in over 30 countries, mostly in
the Asian and African continent with exports contributing to ten per cent of
the top line.Titan’s collaboration with Amazon will now help them foray into
the US market and reach out to Amazon’s wide and loyal consumer base
internationally he said.
“We are very excited to take Titan to US
and soon to all market places and Titan will be using our flagship product
'Fulfillment by Amazon' so that Titan can sell all their products to our FC
(Fulfillment Center) and it is available for one day or two day shipping in
US," Amazon India Director & GM- Seller Services Gopal Pillai told
reporters here. He said Amazon would also look at expanding the partnership to
other markets like U.K., Germany and other European Union countries, as also
Japan.
Titan said as the first step it would enter
the U.S. market with about 500 handpicked models from its Titan and Fastrack
brand of watches, with the price range of USD 30 to USD 300.
Stating that there has been no formal
discussion on exclusivity with Amazon, the company officials said Titan has no
stand alone brick and mortar store in the US.
Noting that e-commerce is the fastest
growing channel for Titan and US is a very matured market, he said "we
have also been receiving enough signals in the last few years of people in US,
not just NRI's wanting to buy Titan." Titan has over 200 million customers and
7,000 retail stores spread over 30 plus different countries. Titan
officials also said it has plans to sell accessories and jewelries over a
period of time, once they study the market.
Launched in India in May 2015, Amazon's
Global Selling Programme facilitates easy, simple and convenient access for all
Indian sellers - including entrepreneurs, SMEs, manufacturers as well as large
brands - to sell their products to consumers across the globe. Amazon said its Global Selling Programme is
getting a lot of momentum, having started the programme two years ago with few
hundred sellers; today it has more than 23,000 sellers listing 65 million
products in 10 different market places.
No comments:
Post a Comment