Fastrack Info
Fast track company profile
Fast track company profile
Fastrack is a wrist watch brand under Titan Industries which is the fifth largest watch manufacturer in the world. Titan is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation. Fastrack was launched in 1998 and its wrist watches were mainly youth oriented. After launching Fastrack sunglasses it became the largest sunglasses seller in India.
The company has various ranges of bags, wallets and belts etc. It has opened its separate stores which mostly attracts the young generation.
Industry profile
Luxary goods industry Luxury goods are products and services that are not considered essential and are associated with affluence. The concept of luxury has been present in various forms since the beginning of civilization. Its role was just as important in ancient western and eastern empires as it is in modern societies.[1] With the clear differences between social classes in earlier civilizations, the consumption of luxury was originally limited to the elite classes.
In economics, a luxury good is a good for which demand increases more than proportionally as income rises, and is a contrast to a "necessity good", for which demand increases proportionally less than income. Luxury goods are often synonymous with superior goods.
Luxury goods are said to have high income elasticity of demand: as people become wealthier, they will buy more and more of the luxury good. This also means, however, that should there be a decline in income its demand will drop. Income elasticity of demand is not constant with respect to income, and may change sign at different levels of income. That is to say, a luxury good may become a normal good or even an inferior good at different income levels, e.g. a wealthy person stops buying increasing numbers of luxury cars for his automobile collection to start collecting airplanes (at such an income level, the luxury car would become an inferior good).
Fast track company profile
Fastrack is a wrist watch brand under Titan Industries which is the fifth largest watch manufacturer in the world. Titan is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation. Fastrack was launched in 1998 and its wrist watches were mainly youth oriented. After launching Fastrack sunglasses it became the largest sunglasses seller in India.
The company has various ranges of bags, wallets and belts etc. It has opened its separate stores which mostly attracts the young generation.
Industry profile
Luxary goods industry Luxury goods are products and services that are not considered essential and are associated with affluence. The concept of luxury has been present in various forms since the beginning of civilization. Its role was just as important in ancient western and eastern empires as it is in modern societies.[1] With the clear differences between social classes in earlier civilizations, the consumption of luxury was originally limited to the elite classes.
In economics, a luxury good is a good for which demand increases more than proportionally as income rises, and is a contrast to a "necessity good", for which demand increases proportionally less than income. Luxury goods are often synonymous with superior goods.
Luxury goods are said to have high income elasticity of demand: as people become wealthier, they will buy more and more of the luxury good. This also means, however, that should there be a decline in income its demand will drop. Income elasticity of demand is not constant with respect to income, and may change sign at different levels of income. That is to say, a luxury good may become a normal good or even an inferior good at different income levels, e.g. a wealthy person stops buying increasing numbers of luxury cars for his automobile collection to start collecting airplanes (at such an income level, the luxury car would become an inferior good).