Fossil India, a wholly-owned subsidiary of US-based watch maker Fossil, is planning to ramp up its operations in the country by more than doubling its points of sale to 350 by 2010-11.
"Fossil is currently present in about 150 outlets across the country and we are now planning to increase it up to 350 points of sales in the next couple of years," Fossil India Pvt Ltd Country manager Vasant Nangia said.
The company, which ventured into the eyewear and leather accessories market recently, is targeting multi-branded outlets and lifestyle stores as its main area of growth in the country.
He, however, refused to disclose the company's investment plans.
"We are looking at three main routes of expansion. The first is key department stores (such as Lifestyle), secondly, speciality chains (such as Regal for leather accessories and Titan Eye Plus for eyewear), and the third is prestige independent retailers," Nangia said.
He said the metros and Tier I cities would be the main target areas for expansion.
Fossil India is currently present in lifestyle stores and multi branded outlets like Helios in Bangalore.
Asked about Fossil India's plans for venturing into exclusive retail outlets, Nangia said: "Considering the legal position with regard to retailing, no exclusive stores are being considered at the moment."
The company has earlier this year announced its foray into eyewear and men's leather accessories.
"We have a range of about 50 designs in men's leather accessories and about 120 designs in eyewear. New ranges would be introduced every season from the latest international offerings," he said.
He said that both leather accessories and eyewear are emerging as key fashion ingredients.
"The Indian market is poised for explosive growth in the fashion segment, as young people have more disposable income, and their awareness of global fashion is growing...we believe there is substantial growth potential in these two categories," Nangia added.
Regarding the ongoing economic downturn, he said: "We have had a great year despite the recessionary environment in watches, and initial response to Fossil eyewear and mens leather accessories has been overwhelming."
Globally, besides watches, eyewear and leather accessories, Fossil is also present in footwear, apparel and jewellery segments.
