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

Titan Company Ltd.
Public
Traded as
ISININE280A01028
IndustryLifestyle
Founded1984
FounderXerxes Desai [1]
Headquarters,
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]
ProductsWatches, Jewellery, precision engineering, Bags, Perfumes, belts, wallets and Eyewear
Revenue156.56 billion (US$2.2 billion) (2018)[6]
11.63 billion (US$160 million) (2018)[6]
Number of employees
6,856 (March 2018) [7]
ParentTata Group
TIDCO
SubsidiariesTitan Engineering & Automation Limited, Favre-Leuba, CaratLane, Titan Watch Company Limited(Hong Kong)
Websitetitancompany.in

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[8] and, later that year, it ventured into the helmets category under its brand Fastrack.[9] 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.[10]

Today, Titan Company is Tata Group's largest consumer company.[11]

Contents

HistoryEdit

1984–1990Edit

Titan Company Limited was inaugurated on 26th July, 1984 under the name Titan Watches Limited in Chennai.[12] 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.[13] In 1989, a satellite case plant was set up in Dehradun, Uttar Pradesh, Uttarakhand at present with a manufacturing capacity of 500,000 watch cases annually.[12]

1991–2000Edit

In September 1993, the company changed its name to Titan Industries Ltd. as it ventured into other range of products other than watches.[14][15]

In 1994, Titan launched its jewellery brand Tanishq.[16]

In 1998, the company launched its watch & accessories brand, Fastrack, targeted at a younger audience in a bid to compete with Timex.[17]

2000–2010Edit

In 2001, Titan launched kids’ watches brand, Dash. The brand saw poor performance and was discontinued in 2003.[18] In 2004, the company entered into an agreement with Moet Hennessy Louis Vuitton Group, to service the latter's range of watches in India through its customer care centres.[19] In 2005, Fastrack was positioned as an independent accessory brand targeting the urban youth. With the objective to become a fashion brand, Fastrack launched sunglasses in the same year and launched bags, belts and wallets in 2009.[20]

2011–presentEdit

Titan acquired Swiss watch maker Favre-Leuba in 2011 to enter the European market.[21] In 2013, Titan entered the fragrances segment with the brand Skinn.[22] In the same year, it changed its name to Titan Company Ltd.[23] In 2014 it entered into a joint venture with Montblanc to establish its retail stores in India.[24]

In 2016, Titan opened prescription lens manufacturing facilities in Noida, Kolkata, and Mumbai to improve its order processing time.[25] In 2018, Titan merged its jewellery brand, Gold Plus targeted at customers in South India with Tanishq to establish the brand's presence in South.[26]

ProductsEdit

WatchesEdit

The watches division comprises brands Fastrack, Sonata, Raga, Octane and Xylys. In 2011, the company secured, licence for marketing & distribution of Tommy Hilfiger and Hugo Boss watches.[27] Favre Leube was incorporated in 2012. In 2018, the division accounted for ₹2,126 Cr in revenue which was 10% of the total of the company.[28]

EyewearEdit

In 2007, Titan Industries forayed into the fashion accessories industry with the launch of sunglasses, an Rs 330-crore market. It introduced Titan Eye+ that has a wide range of frames, contact lenses, prescription eyewear, & sunglasses.[29] The division accounted for ₹415 crore in FY 2016-17 maintaining a stable growth of 8%.

JewelleryEdit

Xerxes Desai started the brand Tanishq in 1995. Zoya was launched in the luxury segment, while Mia, a sub-brand was under Tanishq for work-wear jewellery. Titan's total revenue grew 20.44% in 2017-18 to ₹15,656 crore, of which jewellery sales fetched ₹13,036 crore.[30] In 2016, Titan invested in CaratLane who reported a turnover of ₹290 crore in FY 2017-18.

PerfumeEdit

In 2013, Titan launched six variants of perfume in the Indian perfume market under the brand name ‘Skinn’. They collaborated with world-renowned perfumers including Alberto Morillas and Olivier Pescheux.[31]

SubsidiariesEdit

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.[32]


Swiss watchmaker, Favre Leuba AG, was acquired in 2011 and incorporated as a subsidiary of Titan in 2012. The company was acquired for €2 million. Its headquarters in Solothurn, Switzerland.[32]


Carat Lane Trading Private Limited was founded in 2007 and Titan acquired 62% stake in 2016 at the cost of $50 million. [33]


Titan Watch Company Limited, Hong Kong, is currently a 100% subsidiary of Favre Leuba AG, Switzerland.[32]

Joint venturesEdit

Montblanc India Retail Private Limited In 2015, Titan entered a Joint Venture to sell products of Swiss luxury brand Montblanc through its retail outlets. Titan's equity share is 49% and Montblanc Services B.V. holds 51%.[34]

Board of directors/senior management[35]Edit

Position Personnel
Chairman Vikram Kapur[36]
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[37]
Director T K Arun
Company secretary A R Rajaram

AwardsEdit

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[38]
  • Titan ranked among the 100 most sustainable corporations in Asia in the Channel News Asia Sustainability Ranking 2014[39]
  • Top Indian Company award under the Gems and Jewellery Sector at the Dun & Bradstreet Corporate awards, 2014[40]
  • "Hall of Fame" award at 12th Franchisee Awards 2014 by Franchisee India[41]
Watches
  • Award at the CII 24th Kaizen national awards for assembly casing team[42]
  • Good Design Award 2014 by design Council of Japan for Skeletal Edge[43]
  • "Best Product design of the year-Watches & Jewellery" award by Red Dot for Skeletal Edge for 2014[44]
  • Bronze medal at the Indian Effies Award for Fastrack[45]
Jewellery
  • "Most Admired retailer of the year" award in Jewellery Category by Images Retail Awards.[46]
  • Tanishq wins Global Awards for Excellence in Quality Management & Leadership by World Quality Congress[47]
  • 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[48]
Eyewear
  • Award for Customer service excellence at Golden Globe Tigers Award[49]
  • Gold & Silver Awards at TRRAIN(Trust for Retailers and Retail Associates of India) Retail Awards[50]
  • Gold Award in the Outdoor Advertising Convention 2014[51][52]
Precision engineering
  • Hosur won three State Safety Awards announced by Tamil Nadu Government in 2013[53]

ReferencesEdit

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  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. ^ a b "Annual Report for the FY 2017-18" (PDF). bseindia.com. 16 August 2018.
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  8. ^ Badrinath, Raghuvir (16 September 2013). "Titan launches 'Skinn' fragrance line". Business Standard India. Retrieved 9 March 2017.
  9. ^ PTI. "Titan launches helmets under Fastrack brand". The Hindu. Retrieved 9 March 2017.
  10. ^ "Titan soon coming up with affordable smartwatches". www.moneycontrol.com. Retrieved 9 March 2017.
  11. ^ indiainfoline.com. "Titan company | Stock to watch : Titan". Retrieved 7 March 2017.
  12. ^ a b "Titan Company Ltd. Company History and Annual Growth Details". goodreturns.in. Retrieved 7 October 2018.
  13. ^ "Titan Company Ltd". Economic Times. Retrieved 7 October 2018.
  14. ^ "Titan eyes growth in jewellery". 9 May 2016. Retrieved 26 December 2016.
  15. ^ "Titan Company Ltd". Economic Times. Retrieved 14 October 2018.
  16. ^ "Titan consolidates its OOH biz with Milestone Brandcom and Laqshya Media". Best Media Info. 14 June 2017.
  17. ^ "Titan's Fastrack on comeback trail". rediff.com. 1 December 2005.
  18. ^ "Titan launches watches kids". Rediff. Retrieved 3 November 2018.
  19. ^ "The Hindu Business Line : Titan in service pact with LVMH Group". www.thehindubusinessline.com. Retrieved 3 November 2018.
  20. ^ "Fastrack: Bold Statements". www.afaqs.com. Retrieved 3 November 2018.
  21. ^ "Favre-Leuba 3.0: cashing in emotionally". Livemint. 6 December 2016. Retrieved 3 November 2018.
  22. ^ "With perfume brand, Titan hopes to get under the Skinn of consumers". Hindu Business Line. Retrieved 3 November 2018.
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  27. ^ "Titan Co: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Titan Co". www.ndtv.com. Retrieved 5 December 2018.
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  29. ^ "Titan Eye+ sees huge potential in Indian eyewear market". www.retail4growth.com. Retrieved 5 December 2018.
  30. ^ "Titan targets₹40,000 crore from jewellery business by FY23". www.livemint.com. 22 July 2018. Retrieved 5 December 2018.
  31. ^ "Titan launches SKINN, a new range of perfumes". GQ India. 20 September 2013. Retrieved 5 December 2018.
  32. ^ a b c "Subsidiaries Titan Corporate". www.titancompany.in. Retrieved 20 February 2019.
  33. ^ "Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore". The Economic Times. 14 July 2016. Retrieved 20 February 2019.
  34. ^ "Titan appoints directors for new JV with Maison Montblanc". The Hindu. PTI. 7 December 2015. Retrieved 20 February 2019.CS1 maint: others (link)
  35. ^ "Company news, Company Analysis, Company Announcement, Company Disclosure". The Hindu Business Line. Retrieved 9 March 2017.
  36. ^ Bureau, Our (26 October 2012). "Vikram Kapur is chief of Titan Industries". The Hindu Business Line. Retrieved 31 March 2017.
  37. ^ Govind, Deepti (4 April 2017). "TIDCO nominates director to Titan's board". livemint.com/. Retrieved 4 April 2017.
  38. ^ National Award for the Empowerment of Persons with Disabilities - 2014
  39. ^ Ranking, Channel NewsAsia Sustainability. "Channel NewsAsia Sustainability Ranking". sustainability-ranking.channelnewsasia.com. Retrieved 9 March 2017.
  40. ^ "Untitled Document". www.dnb.co.in. Retrieved 9 March 2017.
  41. ^ "Franchise India 2014, Franchise Exhibition, Franchise & Retail Show". www.expo.franchiseindia.com. Retrieved 9 March 2017.
  42. ^ Award at the CII 24th Kaizen national awards
  43. ^ "Good Design Award 2014" by design Council of Japan for Skeletal Edge
  44. ^ VENTURE, TAUREAN. "New Products : TITAN Edge - An edge over others… - WATCH MARKET REVIEW". watchmarketreview.com. Retrieved 10 March 2017.
  45. ^ "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.
  46. ^ "IRA 2015 AWARDEES". India Retail Forum 2017. 21 September 2015. Retrieved 10 March 2017.
  47. ^ "World Quality Congress & Awards". www.worldqualitycongress.org. Retrieved 10 March 2017.
  48. ^ Bureau, Our (10 April 2014). "Tanishq makes the Interbrand APAC list". The Hindu Business Line. Retrieved 10 March 2017.
  49. ^ "The Golden Globe Tigers Summit Awards". goldenglobetigers.org. Retrieved 10 March 2017.
  50. ^ "TRRAIN". www.trrain.org. Retrieved 10 March 2017.
  51. ^ "Out-Of-Home:NOW Conference 2014 | THE ADVERTISING CLUB of NEW YORK". www.theadvertisingclub.org. Retrieved 10 March 2017.
  52. ^ "OAC 2014 kindles confabulation of industry heads". www.printweek.in. 18 July 2014. Retrieved 10 March 2017.
  53. ^ State Safety Awards

External linksEdit