After watches, jewellery and eyewear, Titan Company Ltd today announced its foray into the Rs 400 crore organised helmet market under its Fastrack brand, priced between Rs 1,495 and Rs 3,495.
"India has one of the highest number of 2-wheelers in the world. With unorganised players currently driving the helmet business, the category has a large potential in the market," Titan Company Ltd MD Bhaskar Bhat told reporters here.
The organised helmet market is estimated at approximately Rs 400 crore, accounting for 45 per cent of the retail market.
He said, "Using our in-house design and marketing expertise and wide retail footprint we took a step to enter the helmet sector."
"The category is currently unorganised and under served - with our superior quality product, we aim to ensure safety and comfort for two wheeler riders," he added.
The collection was revealed today during a fashion show by designer Prasad Bidapa.
Speaking at the event, Titan Company Ltd vice president & CMO - Watches & Accessories Division Ronnie Talati said: "We are getting the helmets manufactured in India, we have tied up with an Italian company called AGV, one of the largest helmet manufactures in the world; ...We are tied up to make our helmets to our design and we control marketing, we control design and safety standards."
On Fastrack brand, he said, "Now as a brand of watches and accessories, Fastrack from a turnover of Rs 30 crore in 1998 - today the brand has a turnover of Rs 770 crore."