Titan and Bangladesh's Rhythm Group signed a joint venture agreement today aimed at expanding India's lifestyle company's reach into Bangladesh through watches, sunglasses, perfume, and its flagship jewellery brand, Tanishq.

The agreement was signed between Rhythm Group and Titan at the latter's headquarter in Bangalore.

CK Venkatraman, managing director of Titan, and Shohag Hossain, managing director of Rhythm Group, inked the deal on behalf of their respective sides in the presence of Titan's International Business Division CEO Kuruvilla Markose.

Under the agreement, a state-of-the-art manufacturing facility for Tanishq's exquisite jewellery will be established in the Meghna Economic Zone in Narayanganj, Bangladesh, said a release.

The jewellery produced in Bangladesh will not only meet local demand but also be exported to Tanishq's 450 outlets in India and other countries.