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Titan Company

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Titan Company Ltd.
Company typePublic
ISININE280A01028
IndustryLifestyle
Founded1984
FounderXerxes Desai [1]
Headquarters
Bengaluru[2]
,
India
Area served
Worldwide
Key people
  • Vikram Kapur (Chairman)
  • Bhaskar Bhat (MD)
  • C K Venkataraman, CEO (Jewellery)[3]
  • S Ravi Kant, CEO (Watches & Accessories)[4]
  • Ronnie Talati, CEO (Eyewear)[5]
  • Sandeep Kulhalli, Senior VP (Retail & Marketing, Tanishq)[6]
ProductsWatches, Jewellery, precision engineering, Bags, Perfumes, belts, wallets and Eyewear
Revenue₹156.56 billion (US$1.9 billion) (2018)[7]
₹11.63 billion (US$140 million) (2018)[7]
Number of employees
6,856 (March 2018) [8]
ParentTata Group
TIDCO
SubsidiariesSkinn
Websitewww.titan.co.in

Titan Company Limited (earlier known as Titan Industries Limited) is an Indian luxury goods company. It is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO).

It commenced operations in 1984 under the name Titan Watches Limited. In 1994, Titan diversified into jewellery with Tanishq and subsequently into eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with the brand Skinn[9] and, later that year, it ventured into the helmets category under its brand Fastrack.[10] Also, Titan announced recently (during the last quarter of 2016) about launching a series of affordable Smartwatches under its brands like Sonata and Fastrack soon.[11]

Today, Titan Company is Tata Group's largest consumer company.[12]

History

1984-1990

Titan Company Limited was inaugurated on 26th July, 1984 under the name Titan Watches Limited in Chennai [13]. A plant was set up to manufacture quartz analog electronic watches in the State Industries Promotion Corporation of Tamil Nadu, Ltd. Industrial area at Hosur. In November 1986, Titan Company and Casio signed a MoU proposing to manufacture 2 million digital and analog-digital watches.[14] In 1989, a satellite case plant was set up in Dehradun, Uttar Pradesh with a manufacturing capacity of 500,000 watch cases annually.[13]

1991-2000

In September 1993, the company changed its name to Titan Industries Ltd. as it ventured into other range of of products other than watches. [15][16]

In 1994, Titan launched its jewellery brand Tanishq.[17]

In 1998, the company launched its watch & accessories brand, Fastrack, targeted at a younger audience in a bid to compete with Timex. [18]

2000-2010

Fastrack[19] – the youth watch and accessories brand was launched in 2005.

2011-Present

In the year 2011, Titan announced the acquisition of Swiss watch maker Favre-Leuba [20] to enter into the European market.


Board of Directors/Senior Management[21]

Position Personnel
Chairman Vikram Kapur[22]
Managing Director Bhaskar Bhat
Nominee N N Tata
Independent Director T K Balaji
Independent Director Vinita Bali
Independent Director Hema Ravichandar
Independent Director Das Narayan Das
Independent Director Ireena Vittal
Independent Director Ashwani Puri
Director Harish Bhat
Director Atulya Misra[23]
Director T K Arun
Company Secretary A R Rajaram

Subsidiaries

Subsidiary companies include Titan Time Products Limited and Favre-Leuba AG (FLAG).

Awards

Titan Company is awarded in many national and international forums for various activities and categories.

Corporate
  • Selected as Best Employer for National Award for the Empowerment of Persons with Disabilities 2014 by the government of India[24]
  • Titan ranked among the 100 most sustainable corporations in Asia in the Channel News Asia Sustainability Ranking 2014[25]
  • Top Indian Company award under the Gems and Jewellery Sector at the Dun & Bradstreet Corporate awards, 2014[26]
  • "Hall of Fame" award at 12th Franchisee Awards 2014 by Franchisee India[27]
Watches
  • Award at the CII 24th Kaizen national awards for assembly casing team[28]
  • Good Design Award 2014 by design Council of Japan for Skeletal Edge[29]
  • "Best Product design of the year-Watches & Jewellery" award by Red Dot for Skeletal Edge for 2014[30]
  • Bronze medal at the Indian Effies Award for Fastrack[31]
Jewellery
  • "Most Admired retailer of the year" award in Jewellery Category by Images Retail Awards.[32]
  • Tanishq wins Global Awards for Excellence in Quality Management & Leadership by World Quality Congress[33]
  • Tanishq is the first Indian Brand to enter the list of top 30 Best Retail Brands in Asia Pacific and stands at # 13 as per Interbrand[34]
Eyewear
  • Award for Customer service excellence at Golden Globe Tigers Award[35]
  • Gold & Silver Awards at TRRAIN(Trust for Retailers and Retail Associates of India) Retail Awards[36]
  • Gold Award in the Outdoor Advertising Convention 2014[37][38]
Precision engineering
  • Hosur won three State Safety Awards announced by Tamil Nadu Government in 2013[39]

References

  1. ^ "Xerxes Desai, founder of Titan, dies". Livemint.com. 28 June 2016.
  2. ^ "Company Profile". Tata Group.
  3. ^ "C K Venkataraman is COO, Titan Jewellery Division". afaqs.com. 7 January 2005.
  4. ^ "S RaviKant". crunchbase.com. Retrieved 7 October 2018.
  5. ^ "Titan Co Ltd". bloomberg.com. Retrieved 7 October 2018.
  6. ^ "Sandeep Kulhalli". crunchbase.com. Retrieved 7 October 2018.
  7. ^ a b "Annual Report for the FY 2017-18" (PDF). bseindia.com. 16 August 2018.
  8. ^ "Titan Company Ltd Management Discussions". indiainfoline.com. Retrieved 7 October 2018.
  9. ^ Badrinath, Raghuvir (16 September 2013). "Titan launches 'Skinn' fragrance line". Business Standard India. Retrieved 9 March 2017.
  10. ^ PTI. "Titan launches helmets under Fastrack brand". The Hindu. Retrieved 9 March 2017.
  11. ^ "Titan soon coming up with affordable smartwatches". www.moneycontrol.com. Retrieved 9 March 2017.
  12. ^ indiainfoline.com. "Titan company | Stock to watch : Titan". Retrieved 7 March 2017.
  13. ^ a b "Titan Company Ltd. Company History and Annual Growth Details". goodreturns.in. Retrieved 7 October 2018.
  14. ^ "Titan Company Ltd". Economic Times. Retrieved 7 October 2018.
  15. ^ "Titan eyes growth in jewellery". 9 May 2016. Retrieved 26 December 2016.
  16. ^ "Titan Company Ltd". Economic Times. Retrieved 14 October 2018.
  17. ^ "Titan consolidates its OOH biz with Milestone Brandcom and Laqshya Media". Best Media Info. 14 June 2017.
  18. ^ "Titan's Fastrack on comeback trail". rediff.com. 1 December 2005.
  19. ^ "A brand on the Fastrack". The Hindu Business Line. 12 March 2009. Retrieved 26 December 2016.
  20. ^ "Titan to acquire Swiss watch brand Favre Leuba for Rs 13.6 cr". www.businesstoday.in. Retrieved 9 March 2017.
  21. ^ "Company news, Company Analysis, Company Announcement, Company Disclosure". The Hindu Business Line. Retrieved 9 March 2017.
  22. ^ Bureau, Our (26 October 2012). "Vikram Kapur is chief of Titan Industries". The Hindu Business Line. Retrieved 31 March 2017.
  23. ^ Govind, Deepti (4 April 2017). "TIDCO nominates director to Titan's board". livemint.com/. Retrieved 4 April 2017.
  24. ^ National Award for the Empowerment of Persons with Disabilities - 2014
  25. ^ Ranking, Channel NewsAsia Sustainability. "Channel NewsAsia Sustainability Ranking". sustainability-ranking.channelnewsasia.com. Retrieved 9 March 2017.
  26. ^ "Untitled Document". www.dnb.co.in. Retrieved 9 March 2017.
  27. ^ "Franchise India 2014, Franchise Exhibition, Franchise & Retail Show". www.expo.franchiseindia.com. Retrieved 9 March 2017.
  28. ^ Award at the CII 24th Kaizen national awards
  29. ^ "Good Design Award 2014" by design Council of Japan for Skeletal Edge
  30. ^ VENTURE, TAUREAN. "New Products : TITAN Edge - An edge over others… - WATCH MARKET REVIEW". watchmarketreview.com. Retrieved 10 March 2017.
  31. ^ "Goafest 2012 Creative Abby's: Ogilvy leads overall tally followed by Taproot | Best Media Info, News and Analysis on Indian Advertising, Marketing and Media Industry". www.bestmediainfo.com. Retrieved 10 March 2017.
  32. ^ "IRA 2015 AWARDEES". India Retail Forum 2017. 21 September 2015. Retrieved 10 March 2017.
  33. ^ "World Quality Congress & Awards". www.worldqualitycongress.org. Retrieved 10 March 2017.
  34. ^ Bureau, Our (10 April 2014). "Tanishq makes the Interbrand APAC list". The Hindu Business Line. Retrieved 10 March 2017.
  35. ^ "The Golden Globe Tigers Summit Awards". goldenglobetigers.org. Retrieved 10 March 2017.
  36. ^ "TRRAIN". www.trrain.org (in eng). Retrieved 10 March 2017.{{cite web}}: CS1 maint: unrecognized language (link)
  37. ^ "Out-Of-Home:NOW Conference 2014 | THE ADVERTISING CLUB of NEW YORK". www.theadvertisingclub.org. Retrieved 10 March 2017.
  38. ^ "OAC 2014 kindles confabulation of industry heads". www.printweek.in. 18 July 2014. Retrieved 10 March 2017.
  39. ^ State Safety Awards
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