Titan Company

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Titan Company
Public
Industry Lifestyle goods
Founded 1987
Headquarters Bengaluru[1], India
Area served
Global
Key people
C. V. Sankar, IAS (Chairman)
Bhaskar Bhat (MD)
Products Watches, Jewellery, precision engineering, Bags, Perfumes, Belts, Helmets, Wallets and Eyewear
Revenue 119 billion (US$1.8 billion) (2015)[2]
8.00 billion (US$120 million) (2015)[2]
Number of employees
7,560 (2015) [3]
Parent Tata Group
TIDCO
Slogan What's your style!
Website www.titan.co.in

Titan Company Limited (earlier known as Titan Industries Limited) is an Indian company which manufactures retail products such as watches, jewellery, fragrances and eyewear. It is a joint venture between the TATA Group and the Tamil Nadu Industrial Development Corporation (TIDCO) which commenced operations in 1984 under the name Titan Watches Limited.

About Company[edit]

Logo used until 2013

The Titan Watch Project began with the signing of a joint venture of Tata Industries with the Tamil Nadu Industrial Development Corporation (TIDCO) in June 1984. Titan Watches Ltd. commenced production in the year 1986 and hit the market in March 1987 with its brand ‘Titan’. The analogue electronic Quartz range met instant acclaim which continued to generate encouragement and began to manufacture bracelets, cases, electronic circuitry and step motors. In 1993, The name of the Company was changed with effect from 21 September. From Titan Watches, Ltd. to Titan Industries Ltd., in view of the fact that the Company's products consisted of not only watches but also jewellery. Titan Industries notably left its footprint in Europe; then came a major one in the Middle East and the Asia-Pacific regions.

In 1996, Titan Industries Ltd. entered the jewellery segment with a brand launch ‘Tanishq'. A brief joint venture with the American brand, Timex, between 1992 and 1998, focusing on market mass, prospered and gave the watches sector a boom. Fastrack – the youth watch and accessories brand were launched. Further in 2005, Leveraging precision engineering core competencies from watch making, Titan Industries Ltd. initiated a precision engineering division, catering to global majors across industry verticals like aerospace, automotive, oil & gas, engineering, hydraulics, solar and medical instruments. In 2006, Titan Industries Ltd. moved jewellery into tier II sectors by bringing in Goldplus, the standardized mass marketing of jewellery, with a market share of around 40% in the semi-urban and rural scenario.

Titan Industries Ltd. started its Eyewear Division in 2007, a project of prescription eyewear, complete with specialized outlets, catering to customers’ every need. Titan Industries Ltd. changed its name to Titan Company Ltd. and celebrated a growth of 175% over its 25 years in the Indian market. Titan Company also achieved a rare milestone in the history of Indian speciality retail by opening its 1000th store. It has over 1100 exclusive showrooms and 11,000 dealer-outlets, Titan Company Ltd. is the largest retail network in India. Now, Titan Company is the world's largest integrated own brand manufacturer of watches, with stakes claiming to 60% of the organized watch market, with over 150 million pieces sold across 32 countries collectively along with opening, the 'World of Titan' exclusive showrooms nationwide, currently totalling 367 plus stores.

Products and Brand[edit]

Titan Industries Ltd. has now become Titan Company Ltd., it is owned and managed by TATA and TIDCO. The company is divided into four divisions - Watches & Accessories, Jewellery, Eyewear and Precision Engineering. The largest manufacturing unit of Titan is located at Hosur, Tamil Nadu.

3.1 Watches Division[edit]

Titan Watches is India’s largest watch retailer and the most trusted brand in the country. Titan watches began producing watches in 1984 and since then transformed the Indian watch market with its diversification into multiple brands. Currently, Titan watches has a factory in Hosur, Tamil Nadu and five assembling units across India.

Titan watches has exquisite collections for men, women, and youth like HTSE, Automatic, Octane, Regalia Classique and Steel for Men, Raga for Women (the only brand in the world that caters solely to women), Zoop for Children and Fastrack for Youth. There is also Edge, Purple and the solid gold Nebula for the elegant and stylish looks. Recently, Titan Edge was awarded the prestigious Red Dot in Product Design, making it two consecutive years for the brand.

Titan Company caters to various consumer segments through its differentiated product offerings which include Titan Edge- the slimmest watch in the universe, HTSE, light powered watches, and Purple, Titan's fashion line.

With a license for premium fashion watches of global brands, Titan Company repeated its pioneering act and brought international brands into the Indian market. Tommy Hilfiger, FCUK, Timberland and Police as well as the Swiss made watch – Xylys owe their presence in the Indian market to Titan Company. Titan Watches has over 423 exclusive stores in 165 towns in India, and presence in 32 countries across the Middle East, South East Asia, SAARC nations and some parts of Africa including South Africa. In addition to this, the company has over 700 authorized service centers across the country.

Titan Company has recently launched Titan Juxt - a smart watch. In partnership with HP, Juxt is a coming together of great watch design and smart technology. This next generation watch includes sms and email notifications, call alerts, event reminders, activity tracker, world time and privilege reveal. Titan Juxt is available for sale in the US, UK and Canada apart from India.

Accessories[edit]

Titan Company retails leather goods like belts and wallets under its Watches and Accessories division. The products are available at World of Titan outlets across the country. Fastrack was launched in 1998 and became an independent urban youth brand in 2005. Since then, it has carved a niche for itself with watches and sunglasses that are refreshingly exceptional.

Fastrack extended its footprint into accessories in the year 2009 with an exciting range of bags, belts and wallets. With these, today successfully notched up the title of being the most loved youth fashion brand in the country. The brand has over 150 stores across 75 metros, major cities, and towns in India.

The brand SKINN by Titan offers a fabulous collection of exquisite French fragrances specially crafted to suit the Indian taste. Titan has brought together the best master perfumers in the world to create unique fragrances which are manufactured in France and are available at an affordable price. The classic perfumes from Titan SKINN need no words to express, and it remains as the best collection forever.

3.2 Precision Engineering[edit]

Titan Precision Engineering Division was started in 2002 to manufacture parts for automotive and aerospace Industries. The division’s products span-precision engineering components and sub-assemblies, machine building & automation solutions, tooling solutions and electronic sub-assemblies.

Additionally, the division catering to the aerospace segment is AS 9100B certified and the unit catering to the automotive segment is TS 16949 certified. The unit has recently been selected for the National Aerospace and Defense Contractors’ Accreditation Programme for its non-destructive testing capabilities.

3.3 Jewellery Division[edit]

Titan company manufacturers jewellery that is synonymous with superior craftsmanship, exclusive designs, and guaranteed product quality. Tanishq is India's one of the top-notch jewellery brand from Titan. Tanishq offers diamond and precious colour stone jewellery (in 22 and 18 karat gold) in over 5000 traditional, western and fusion looks. Tanishq retail chain currently includes over 190 boutiques in over 90 cities, making it India's first and largest jewellery retail store chain.

Mia, a sub-brand of Tanishq is a collection of lightweight jewellery crafted for the confident corporate woman. The Mia collection offers an impressive variety of options for every occasion at the office. Goldplus is India’s only corporate brand in the mass-market gold retail business which is also well known for its pure gold jewellery and transparent business practices.

The Goldplus jewellery comes in a unique design that is crafted beautifully with Diamonds, Ruby and Emeralds, American Diamonds and other precious stones. Zoya is a chain of luxury jewellery boutiques which targets elite, discerning ladies seeking designer wear of international standards. The collections of Zoya offers an exquisite and artistically styled masterpieces studded in diamonds, apart from traditional, fusion polki and kundan jewellery.

3.4 Eyewear[edit]

Titan Eyeplus, the third major line of consumer business division from Titan, ventured into the eyewear category in March 2007. The move was an initiative to re-define the industry and straddle the marketplace with exacting quality standards, unparalleled in India’s prescription eyewear industry. Benchmarked against the best in the world, Titan Eyeplus heralds standardization in the eyewear industry. Titan Eyeplus, following the Tata‘s principles of quality and trust, offers international quality standards enhanced by practices such as transparency in pricing, contemporary design, and styling in the highly fragmented and undifferentiated Indian optical retail segment. At present, Titan Eyeplus has over 335 stores operating across 143 cities.

Corporate identity[edit]

After 25 years, Titan Industries Ltd. changed its name to Titan Company Ltd. in August 2013 to more closely reflect the range of lifestyle products the company sells and plans to sell. It also unveiled a new logo at this time.[4] Titan company limited

Awards and recognition[edit]

Over the years Titan Company has received several prestigious awards and great compliments for innovation of unique products and brands. Some of the recent and most noteworthy recognition's that Titan has achieved are:

  • 9.1 Corporate

Titan Company Limited’s e-commerce portal wins Gold at the IDMA Awards, 2015. Titan continues to be in Forbes Asia’s FAB 50 companies list for 2013, Gold Award (the best in India) and Best-of-the-Best Award (among the top 5 in Asia Pacific) at the Retail Asia-Pacific Top 500 Awards 2013. “Transformational Leader of the Year” Award for Mr Bhaskar Bhat, MD at Managing India Awards 2013 by AIMA and Best Governed Company Award 2012 from Asian Centre For Corporate Governance & Sustainability.

  • 9.2 Product

In Tata Innovista Finals 2015, Titan has won two awards for their pioneering designed products and inventive brand launch. Titan Eyeplus won both the gold and silver at the TRRAIN Retail Awards 2014. CII Award for Excellence in Energy Management for the Watch Manufacturing Division, Hosur. Sonata received recognition at the ABP Pitch Brands 50 Awards 2013. Fastrack is placed 4th and Titan placed 16th in the list of most exciting brands in India in the survey conducted by A C Nielsen and the Economic Times (Brand Equity).

Silver Effie Award for an effective 360-degree campaign for Titan HTSE. The IIFT Fashion & Lifestyle Award 2013 for Tanishq. IJ Jewellers Choice Award in the ‘Diamond Jewellery under 5L’ category for a necklace from ‘Ganga’ collection. Designomics award for Mia product design and CII’s Best product design (Lifestyle category) award for Mia.

  • 9.2 CSR

As an appreciation for offering significant contribution to the community welfare, Titan Company has received the 'President of India's Award' for employing the physically challenged. Titan Company, a signatory to the Global Compact, is a recipient of the prestigious 'Helen Keller Award' and the 'Mother Teresa Award'. The company has been ranked with the highest rating of 4 in the 'Karmayog CSR Rating of India's Top 500 Companies' from 2007 till 2012.

Some of the other noteworthy awards for CSR include:

  • Golden Peacock Award for Environment Management by Frost & Sullivan
  • Tamil Nadu Government recognition as the best Company in CSR activities
  • Best Governed Company Award from Asian Center for Corporate Governance

References[edit]

  1. ^ "Company Profile". Tata Group. 
  2. ^ a b "Titan Company Ltd, TITAN:NSI financials - FT.com". markets.ft.com. Retrieved 7 August 2014. 
  3. ^ "Titan Company Ltd, TITAN:NSI profile - FT.com". markets.ft.com. Retrieved 7 August 2014. 
  4. ^ "Titan unveils new logo, changes name". Mint. 28 August 2013. Retrieved 30 January 2014. 

External links[edit]