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Fastrack Brand extension success
FASTRACK PARENT BRAND : TITAN
Presented by Ashwini Mohan
About Fastrack
• Launched as a sub-brand of Titan in 1997 to address the youth segment for wrist watches.
• Target segment initially identified as college-goers perceived to not work .It was later shifted to young executives as well.
• Mid-price range• Target again changed to college-going youth in
2000, product known as “wrist wear”
• Brand extended to Eye-wear in 2004• Brand extended to “youth accessories” - and
wrist wear ,eye wear , bags, belts and wallets in 2007.
• Independent retail stores opened under Fastrack name.
• Titan identified that Cellphones, deodorants, sports shoes, sunglasses and handbags were the most popular accessories for the youth.
• Decided on eye wear as Fastrack was addressing the same consumer for both watches and sunglasses because both products are about style and not function
• The eyewear market in India at the time was skewed premium segment had players like Rayban, and low end segment was unbranded.
• Fastrack decided to fill it, launching its branded sunglasses at a middle price level: Rs695- 1,895 a pair
Revenues
• Before 2004 – Stagnated revenues around 20 cr p.a
• Category extension into eye gear – Revenue jumped to 75 cr p.a
• Category extension into bags,belts,wallets,etc : Revenues growing at more than 50 percent.
• Expected to be a 500 cr business by the end of 2012
New range : Teevirus watches
• Teevirus – Born out of t-shirts. • A range of eyewear , sunglasses priced at an
extremely affordable range.• Priced below 1000 Rs. • Fastrack tries to change the perception about
just one watch or sunglasses , Teevirus asks you to own a collection of these trendy and young pieces that scream-’rebellion’