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This article is about the consumer goods company from India. For other companies, see Titan (disambiguation)
Titan Company Limited is an Indian company that mainly manufactures fashion accessories such as jewellery, watches and eyewear. Part of the Tata Group and started as a joint venture with TIDCO, the company has its corporate headquarters in Electronic City, Bangalore,[5] and registered office in Hosur, Tamil Nadu.[6]
Titan Company commenced operations in under the name Titan Watches Limited. In , Titan diversified into jewellery with Tanishq and subsequently into eyewear with Titan Eyeplus. In , it launched its youth fashion accessories brand Fastrack.[7] Titan is the largest branded jewellery maker in India by value, with a 6% market share as of .[8][9] More than 80% of its total revenue comes from the jewellery segment. ( Tanishq , Mia , CaratLane & Zoya )[8] As of , it is also the fifth-largest watch manufacturer in the world.[10]
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Titan Company Limited was inaugurated on 26 July under the name Titan Watches Limited in Chennai.[11] A plant was set up to manufacture quartz analogue electronic watches in the State Industries Promotion Corporation of Tamil Nadu, Ltd. Industrial area at Hosur. In November , Titan Company and Casio signed a MoU proposing to manufacture 2 million digital and analog-digital watches.[12] In , a satellite case plant was set up in Dehradun, Uttarakhand at present with a manufacturing capacity of 500,000 watch cases annually.[11]
In September , the company changed its name to Titan Industries Ltd. as it ventured into other range of products other than watches.[13][14]
In , Titan launched its jewellery brand Tanishq.[15]
In , the company launched its watch and accessories brand, Fastrack, targeted at a younger audience in a bid to compete with Timex.[16]
In , Titan launched the kids&#; watch brand, Dash. The brand saw poor performance and was discontinued in .[17] In , the company agreed with Moet Hennessy Louis Vuitton Group, to service the latter's range of watches in India through its customer care centres.[18]
In , Fastrack was positioned as an independent accessory brand targeting the urban youth. To become a fashion brand, Fastrack launched sunglasses in the same year and launched bags, belts and wallets in .[19]
A Tanishq jewellery store in Hyderabad.Titan acquired Swiss watchmaker Favre-Leuba in for &#;2 million to enter the European market.[20][21] In , Titan entered the fragrances segment with the brand Skinn[22] and later that year, it ventured into the helmets' category under its brand Fastrack.[23] In the same year, it changed its name to Titan Company Ltd.[24] In , it entered into a joint venture with Montblanc to establish its retail stores in India.[25]
In , Titan opened prescription lens manufacturing facilities in Noida, Kolkata, and Mumbai to improve its order processing time.[26]
In , Titan entered the wearable devices market by introducing its smartwatch, Juxt, made through a collaboration with Hewlett-Packard.[27] In , the company launched a fitness tracker, named Gesture Band under its youth accessories brand, Fastrack.[28] In the same year, it invested $3 million in a Singapore based wearable tech company, CoveIoT.[29] In , the company added new fitness tracker bands. The company had a 7.4% market share in the wearable devices market as of .[30]
In , Titan merged its jewellery brand, Gold Plus targeted at customers in South India with Tanishq to establish the brand's presence in South.[31]
In November , Titan opened its first overseas Tanishq store in Dubai as well as an exclusive website for Dubai showcasing its collections.[32]
In , Titan sold its subsidiary Favre Leuba to Ethos.[33][34] In December , Titan acquired a 10% stake in American healthtech company CueZen for $3.5 million.[35]
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Watches and Wearables
Jewellery
Eyewear
Indian Dress Wear
Fragrances and Fashion Accessories
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Titan Engineering & Automation Limited is a wholly owned subsidiary of Titan. It was formerly known as Titan-Precision Engineering Division. The company now deals in machine building, automation and component manufacturing.[21]
Titan acquired a 62% stake in CaratLane for $50 million.[36]
In , Titan acquired another 27.18% stake in CaratLane Trading from the jewellery brand&#;s founder and his family for Rs 4,621 crore in cash, following which its stake in the company will increase to 98.28%.[37]
In , Titan entered a joint venture to sell products of the Swiss luxury brand Montblanc through its retail outlets. Titan's equity share in Montblanc India Retail Private Limited is 49% and Montblanc Services B.V. holds 51%.[38]
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Titan Company is awarded in many national and international forums for various activities and categories.
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Titan is one of the most popular watch manufacturers in India with a revenue of 21,204 crore rupees as of . This public company was established in and has expanded to be the fifth largest watch manufacturer in the whole world and is also the largest branded jewellery maker in India. More than 80% of its revenue comes from the latter.
The firm is a part of the Tata group and started its journey in a joint venture with TIDCO. The one thing that we should appreciate about Titan is its diverse revenue streams and the immense trust that its customers have in them. The firm had changed its name from Titan Co to Titan Industries Ltd in . This article will explore the business model of Titan.
Key Activities of Titan
Monetising Heritage
Channels of Titan
Customer Relationship
Revenue Streams of Titan
Businesses by Titan - Iconic Brands of Titan
FAQ
Titan is known for its quality manufacturing and sales. In it started manufacturing quartz analog watches and further diversified into various other products.
Today they manufacture watches, eye wear, perfumes and jewellery. Their branches also cater to the requirements of people of all age groups. They provide the best experience to their customers.
The biggest factor that multiplies the sale of Titan Company Limited today is the sense of the superior quality of craftsmanship associated with the firm. Their product quality is admired by most of the users. One of the main reasons for this is their people-centric vision of creating and elevating experience that impacts the world.
Their mission has always been to create a value-driven culture that nourishes innovation, performance and the highest global standards in everything they do. Throughout their businesses and the ways in which they pitch themselves ensure that customers take the precedence over anything else.
There is absolutely no doubt about the fact that it is in fact the people who made Titan the brand that it is today. They have reached a position at which they are capable of monetising the heritage that they have proudly inherited through years of delivering quality products.
There are multiple platforms through which Titan makes its products available to the people. On the first hand, they have many exclusive outlets in the name of Titan across most of the cities in India. There are outlets in other countries too.
Some of these outlets sell all the products by the Titan group while most of them are exclusive showrooms that sell particular products like watches, eyewear, jewellery et cetera.
They also have exclusive online websites through which the customers can directly place the orders and get them delivered to their doorsteps. Apart from that Titan has also partnered with most of the key platforms through which they make their products available.
Titan WebsiteIn fact, Titan has done and is continuing to do everything possible to make their products accessible and affordable to all sections of society.
Customers are one of the biggest assets of the company. Hence they have enabled various options to give the best experience to the customers. As a part of this, they have devised a customer support service that can be reached at . The customers can also raise their concerns by writing to .
Alternatively, the customers can also directly reach out to the offline customer care centres or showrooms with the product and its receipt.
As mentioned before the Titan Company has a plethora of branches from which it gains revenue. The eyewear component of the company named Titan Eye + attributes to 2% of the companies overall revenue. Despite the individual growth of Titan Eye + its contribution to the group have been negligible.
The other peripheral segments like handbags, wallets, perfumes et cetera together contribute 4% of their revenue.
On the other hand, Titan largely known as a watch manufacturer contributes only 13 % to the company's revenue. As far as the watch manufacturing is concerned they have multiple sub-branches that are titled FastTrack Helios, Xylys, Titan Raga et cetera. It might be a surprise that despite the watches being the most popular product of the company, it only contributes a small amount.
It is in fact the jewellery business by the Titan that generate the most revenue. Tanishq, the company's jewellery wing contributes a whopping 82% of the total revenue of the company.
They are the primary growth drivers of the firm. It can be rightly concluded that all the Titan is known for their watches it is their business that happens in Tanishq that drives the business forward.
From the looks of the business model of Titan, it is likely that, they will continue thrive in the yeas to come. They have knack with expanding their businesses to newer areas while retaining the quality of whatever was existing.
The very fact that Titan watches are the most preferred and popular among the middle class people in India is a testament to it. Heritage is something that we inculcate through commitment and passion. This is one thing that one should learn from the functioning of the Titan group.
Yes, Titan is a an Indian brand that mainly manufactures fashion accessories such as watches, jewellery and eyewear.
Yes, Tanishq is an Indian jewellery brand and a division of Titan Company.
Titan was formed between the joint venture of Tata Group & Tamil Nadu Industrial Corporation in .
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