<span class="htext1">Innovating brands:</span> Fastrack

The brand has managed to come out from under Titan's shadow to become an accepted youth accessory brand.

Fastrack positioned as 'Cool watches by Titan' was launched by the watch manufacturer in 1997, as casual watches for the young male executive in the age group of 23-30. Fastrack was the fastest-growing brand of watches within Titan Industries. Fastrack has built the brand from being understated-casual to a funky-in-your-face one that is affordable as well.

The year it branched away from Titan, Fastrack ended the year by selling 1,50,000 watches and 58,000 sunglasses that gave it a combined turnover of Rs 29 crore. In 2005-06, the Fastrack sunglasses came out with its first national campaign and in the same year Fastrack watches were re-launched. In financial year 2007, the brand sold 10 lakh watches and around 4 lakh sunglasses, with a combined turnover of Rs 176 crore. The next year, it sold 14 lakh watches and 5 lakh sunglasses and touched a turnover of Rs 250 crore. It is incidentally the largest brand of sunglasses in the country.

This year, Fastrack increased its consumer touch points with the launch of new categories like bags, belts, wallets and wristbands. Though Fastrack is positioned uniquely in its segment (youth fashion brand for watches and sunglasses), there is no large direct competition. Other watch brands catering to the same target group are Timex, Esprit and Swatch.

In the eye gear category, the company has competition from the Spykar and Provogue range of sunglasses. It is, incidentally, the largest brand of sunglasses in the country. Items in the range are typically priced between Rs 1,200 and Rs 1,800.

Fastrack has, over the years, introduced watches with different themes and designs, like the Army collection, which had innovations such as a dog-tag watch. Similarly, for sunglasses, Fastrack was the first national eyewear brand to use a brand ambassador in a multi-media campaign.