Titan Company has incorporated its business in the Canadian market, a further step in plans it announced in 2022 to expand its international presence.
The Indian jeweler created Titan Company Canada, a wholly owned subsidiary, for an initial share capital price of CAD 5,000 ($3,571), it said Wednesday. Titan has billed the entity as one for “retail jewelry and other lifestyle businesses.”
Titan hinted it was ready to move into the Canadian market in August in a report on the outcome of its board meeting to review financial results. At the time, it said the board approved “the entry of the Tanishq business in Canada.”
In 2022, the jeweler noted it intended to open approximately 20 international stores within the following three years in the Gulf Cooperation Council (GCC) countries and North America. At the time, it was eyeing the Canadian locations of Toronto and Vancouver.
In the past four years, Titan has launched several boutiques in the United Arab Emirates (UAE) and in the US. Last year, it also acquired Dubai’s Damas Jewellery.
Image: A Tarnishq store in Visakhapatnam, India. (Shutterstock)
