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’