Youth accessories brand Fastrack, which has reached the 100th-store mark, announced a new retail initiative for its next phase of expansion.
The watch-to-bags-to-sunglasses brand from Titan Industries Ltd will use the hub-and-spoke model to strengthen its presence across the country. While the hub (the larger store) would house all the brand categories, the smaller stores (150-200 sq. ft) located around the large store would be single category stores. “As we grow the number of categories, we want to have more touch points with our consumers,” explained Mr Ronnie Talati, Vice-President and Business Head, Fastrack and New Brands. During the next fiscal, about 25 per cent of the brand's turnover is expected to come from Fastrack retail outlets. Apart from brand outlets, Fastrack products are also available at World of Titan stores, Titan Eye Plus and multi-brand outlets.
New categories that the brand is eyeing to enter are motorcycle helmets and bicycles. Fastrack's strategy is to foray into a large unorganised segment, grow that category further and become a leader there, he added.
All Fastrack stores follow a uniform branding strategy across the country. The stores are all connected through an Internet radio. “Going forward we may also have a Fastrack radio station,” Mr Talati said.
Fastrack is currently a Rs 600-crore brand for Titan with plans to grow the revenues by 30 per cent in fiscal 2012-13, by which time the number of outlets would grow to 280, Mr Talati said.