INTRODUCTION

Titan Industries is the world's sixth largest wrist watch manufacturer and India's leading
producer of watches under the Titan, Fast track, Sonata, Nebula, RAGA, Regalia, Octane
& Xylys brand names. It is a joint venture between one of India's most respected business
organizations, the Tata Group, and the Tamil Nadu Industrial Development Corporation
(TIDCO). Its product portfolio includes watches, accessories and jewellery, in both
temporary and traditional designs. It exports watches to about 32 countries around the
world with manufacturing facilities in Hosur, Dehradun, Goa and manufactures precious
jewellery under the Tanishq brand name, making it India's only national jewellery brand.
It is a subsidiary of the Tata Group.
Remember when the only Indian wristwatch brand you could buy came in a clutch of
clunky models, one more ordinary than the other, when the craze for an `imported watch’
never seemed to wane? That was before the time of Titan, a name which changed forever
the way watches made in this country were seen by Indians and the world.

Launched in 1987, Titan is credited with transforming the face of India’s watch industry.
By offering consumers quality products the blended classy designs with superior
technology, Titan became byword for success stories. Outstanding service, wide variety
of models, and effective marketing has helped Titan consolidate its early gains, to the
point where the company is a force to be reckoned with beyond Indian shores.

Understanding the Indian consumer’s psyche has been vital to Titan reaching its current
position of strength. The company today has a model for every price segment and every
market, urban and rural, regional and international. Within the Titan mother brand are
Nebula, which comes draped in 18-carat gold; the exclusive Insignia; PSI, for those
turned on by technology; and Raga, which has been designed exclusively for women.
Titan’s focus has always been on India.

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Watch division
Titan watch division was started in 1987. At launch it was the third watch company in
India after HMT and Allwyn. Titan formed a joint venture with Timex, which lasted until
1998, and setup a strong distribution network across India. As of 2005, Titan watches
account for a 25% share of the total Indian market and are also sold in about 40 countries
through marketing subsidiaries based in London, Aden, Dubai and Singapore. Titan
watches are sold in India through retail chains controlled by Titan Industries.

Titan Industries has claimed to have manufactured the world's slimmest wrist watch -
Titan Edge. Produced indigenously after four years of research and development, the
Titan Edge has a total slimness of just 3.5 mm and a wafer thin movement of 1.15 mm.
Apart from the Titan Edge

Titan also offers Steel, Regalia, Raga, Fast track, Technology, Nebula, Obaku, Sonata,
Octane, special RHosur, Tamil Nadu.

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Fast track
Fast track is a popular brand among youth in India. It was launch in 1998, the cool,
trendy, funky range for the young and young-at-heart. Fast track watches come in a
variety of styles, shapes and colors.

On 4 March, 2010, Titan Industries Announced the launch of its very first Titan flagship
store is located at Opposite Shoppers Stop, Bandra Linking Road, Mumbai, India. Store
is spread over a spacious 2500 sq ft and houses more than 1500 watches on display from
Titan like Purple, Automatics, Orion, Raga, Edge, Nebula, and many more.

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Jewellery division
Tanishq is currently the most prominent jewellery brand of India, and it pioneered the
concept of branded jewellery and ornaments in India. The name Tanishq has been formed
by combining "Ta" (the first two letters of Tata) and "Nishk or Nishkh" (meaning gold
coin or necklace in Sanskrit).

Tanishq is India's largest jewellery brand with a wide range of jewellery in 22Kt pure
gold studded with diamonds or coloured gems. It is the fastest growing jewellery brand in
India. Tanishq, established in 1995, challenged the established family jeweller and
introduced new rules in precious jewellery; a category as old as civilization. Tanishq
challenged the age-old jeweller's word with Tata's guaranteed purity. Tanishq's initial
foray into the jewellery business was a failure though. Tanishq at first introduced 18 Kt
gold jewellery advertising 18 Kt as the 'international standard.' This less pure gold was
completely rejected by the market dominated by 22 Kt gold. Later on, it exploded the
market with facts about rampant impurity across India. It introduced technology-backed
challenge in a category completely governed by blind individual trust. Tanishq
introduced innovations like Karatmeter, the only non destructive means to check the
purity of gold; machine made jewellery, which offers superior finish and value to the
customer and handcrafted jewellery which is influenced by various jewellery traditions of
India.

Tanishq has set up production and sourcing bases with thorough research of the jewellery
crafts of India. The 1, 35,000 sq. ft. factory is equipped with the latest and most modern
machinery and equipment. The factory complies with all labour and environmental
standards, located at Hosur, Tamil Nadu. The brand brings together the work of karigars,
who specialize in different styles of making jewellery. Karigars, who continue to be an
exploited lot with other jewellers, are paid fair remuneration and work under good
working conditions in Tanishq.

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Prescription Eyewear Division (PEW)
The PEW business is Titan's latest retailing venture. The company now has 48 stores
under the "Titan Eye+" brand across the country. Over the next few years the company
plans to expand to 250 stores.

Face of Titan
The Company also runs a one of a kind contest in the retail industry called the Face Of
Titan (FOT) contest to identify the most talented Sales person, Manager & Service
personnel Technician & Cashier. The contest recognizes the best based on a set of
parameters that give a measure of the overall development of the individual in each of the
categories mentioned above and is not solely on sales.

This program was conceived as an assessment centre for frontline staff - by Aparna
Ponnappa, inspired at that time by staff who expressed their desire to 'perform' and 'be
recognised' for what they do. This program enabled the retail wing of Titan to empower
staff to take charge of their own skill development and provided them with a healthy and
fun environment to compete and showcase their own talent.

The contest leapfrogged into the digital era from the year 2006-07 with the introduction
of IT in the capturing of survey data across all of its 200+ stores,that year also saw the
introduction of the data gathered at the store level being used to profile the staff at
various levels using a custom built web based software developed by I.GEN Labs

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JOURNEY OF TITAN
Titan has built on this principle over the last 25 years, almost year after year:

 1984

- The Company was Incorporated on 26th July, at Chennai. The Manufacture analog
electronic watches with a choice of over 150 designs. The company was promoted
jointly by Questar Investments, Ltd., a Tata Company with its associates Tata Sons, Ltd.,
and Tata Press, Ltd., and Tamil Nadu Industrial Development Corporation, Ltd. (TIDCO).
The main objective of the company is to manufacture analog electronic watches with a
choice of over 150 designs.

- The Company undertook to set up a plant for the manufacture of quartz analog electronic
watches in the State Industries Promotion Corporation of Tamil Nadu, Ltd. Industrial area
at Hosur.

- The Company entered into a collaboration agreement with France Ebauches (FE) of France,
manufacturers of watch movements and components, for technical documentation,
Assistance in procurement of manufacturing equipments, raw materials, etc.

 1987

- The Company established a manufacturing facility at Hosur for the manufacture of

 1989

- A new range of watches called `Aqura' was launched in December. The trendy
range for the youth, colourful, smart and affordable plastic watches for the youth

- The Company set up a satellite case plant at Dehra Dun in Uttar Pradesh with a
capacity of 5,00,000 watch cases per annum to improve operating efficiency and reduce costs.

- The proceeds of the issue were to be utilised to meet a part of the fund requirement of the
company's project to manufacture watch cases and other critical components inhouse.

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  1991

- A joint venture Company along with Economic Development Council of Goa, Daman
& Diu Ltd., in the name of Titan Time Products, Ltd., was set up at Goa, for the
manufacture of Electronic Circuit Blocks.

- The company undertook to set up a jewellery business at Hosur. The jewellery repertoire
was to include both daily-wear jewellery and luxury products.

- Grant Walker, a U.K. based firm, was to provide the necessary consultancy services and
the marketing was to be undertaken worldwide through an offshore company controlled
by Titan Watches Ltd., with its main base in London.

 1992

- Over 150 new models were introduced of which `Raga' introduced in June, `Spectra' a
range of watches in steel and gold plated was reintroduced with a new look in August.
It was proposed to introduce a host of new products based on new movements.

- It was also proposed to sell the brand name `Aqura' and the right to make Aqura products
to Timex, with a view to move up market.

- With a view to streamling the Company's international operations, it was decided to set
up a wholly owned subsidiary Titan Holdings BV in Netherlands. Approval was received
for investment of share capital of 2 million U.S. $ in that Company.

- Titan Time Products, Ltd., is a joint sector project set up with the Economic Development
Council of Goa, Daman and Diu.

 1993

- The name of the Company was changed with effect from 21st Sept. 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.

 1994

- The Company introduced `Tanishq' range of watches made of 18 carat gold and studded
with precious stones. A new range of watch `Insignia' manufactured for the European
market likely to be introduced in the domestic market.

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- The Company proposed to expand the watch manufacturing to 5 million pieces by
adding some balancing equipment and productivity devices in the component manufacturing
plants.

- The Company proposed to establish new facilities for the manufacture of table clocks

with a capacity of 1.5 million pieces per annum. New facilities were also being established
for the manufacture of complex integrated metal bracelets with a capacity of 1.2 million
bracelets with technical assistance from a reputed manufacturer in Japan.

- A new Company was established in Singapore to market products in South and South East
Asian countries.

 1995

- The Company proposed to set up a joint venture company with Hour Glass of Singapore
to set up watch boutiques in leading Indian cities for the sale of luxury watches and also
be responsible for wholesale and after-sales operations.

 1996

- The Company has introduced new economy range of watches called Sonata and Tanishq
22 Karat ethnic Jewellery & also launch Dash, the cute and colourful range for kids
during the year.

 1997
-It was Sonata, the affordable, good quality range for the budget-conscious.

 1998

-It was Fast track, the cool, trendy, funky range for the young and young-at-heart.

- The Company now has 102 exclusive Titan Showrooms and a chain of 83 Time zone outlets
in addition to being present in over 5400 dealer outlets in 1300 towns and cities across the country.

- The Research & Development Group has developed a slim movement with date which has
been introduced in the market.

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  1999
-It was Nebula, the solid gold and diamond-studded range of luxury watches for those
affluent people to whom gold is a precious acquisition.

 2000

- Titan Industries has announced the launch of Cyber, a range of digital clocks.

- Titan Industries has been conferred the award for excellence in electronics for
the year 1998 by the ministry of information technology (MIT).

- Titan has launched a new `Style at Work' collection under its Classic range.

- Tanishq, the jewellery division of Titan Industries Ltd, has opened its second
showroom in Kerala.

- Titan Industries' jewellery arm Tanishq is getting into an memorandum of understading

- Titan Industries is considering launching a `third brand' for the upper end.

- Titan Industries unveiled a new range of wrist-watches, called the Classique range, for
Corporate Executives.

- Titan Industries has announced a new range of Fast track watches for
young women in the city

 2001

- Titan Industries Ltd. has launched three new collections of its popular Dash brand of watches
for kids – Popeye & Digital it was Steel, the smart and contemporary collection for the young
21st century executive.

- Titan Industries on June 27 reported its profit rose 21.8 per cent in the past year to March,
reflecting strong sales growth by its jewellery division.

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  2002

- Titan Industries Ltd decides that it would be in the long-term interest of the company to
rationalise its manpower and to improve productivity. With a view to achieve this objective
and keeping the best interests of both employees and the company in mind the company
has decided to introduce a Voluntary Retirement Scheme to its permanent employees.
The scheme has been notified today July 25, 2002 to the employees of the company.

 2003

-Tanishq steps into a new segment Silverware. The silverware range has been designed
by Michael Folly, the designer for Titan. We have introduced silverware in all metros,
said YL Saroja, group manager, sales and marketing, Tanishq. This is a Rs 5,000 crore
market and has few organised and branded players.

-Management decided to declare partial lock-out at the company's manufacturing

-Floats towards automotive and aerospace precision mechatronics for aviation and auto
tools.

 2004

-GVM International Ltd., a licensee of Tommy Hilfiger Licensing Inc (a wholly-owned

-Relaunch 'Raga', the women's watch range

-Titan has announced the launch of a new collection of women's watches called
'Raga Miniatures'. Small and delicate in size the watches bracelets in 15 varieties of
gold and steel and is priced at Rs 2995 onwards.

-Titan Industries Ltd announced the launch of the customer service `Original Spares' logo

-Titan has announced the launch of Raga 9 to 5 collection of watches aimed at working women.
The collection comprises around 40 designs and is targeted at women in the age group of 25 to 45.
The new range is available at a price ranging from Rs 1650 to Rs 5000.

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-Titan Industries on June 18, 2004, announced the launch of the Tommy Hilfiger watch
collection in India. Titan has entered into an exclusive sub-licensing arrangement with GVM
International Ltd, a member of the Murjani Group, for the marketing and distribution of
Tommy Hilfiger watches in India

-Watch and jewellery manufacturer Titan Industries forayed into the fashion accessories industry
with the launch of sunglasses, a Rs 330-crore market

-Rolls out new range of designer eyewear in Chennai

-Titan rolls out new range of jewellery watches under the 'Nebula' brand

-Titan Industries launches Crown Collection watches

-Titan partners with LVMH Group

-Titan Industries launches Cal Track

 2005

-Titan re-introduces Fastrack range of watches

-Titan introduces new gold & steel collection in Coimbatore

-Titan rolls out bi-metal range of watches in Vizag

-Titan launches multiple watches under Raga coordinate range

 2006

-Titan Industries Ltd has informed that Mr. Harish Bhat is being appointed as Chief
Operating Officer (COO) - Watches and Licensing & Accessories Division of the Company.

 2008
-The brand has collections like the Octane, Diva, WWF and Zoop –
each of them unique and fascinating.

-Titan to set up Tanishq exclusive stores in US

-Titan Industries unveils Xylys watche

-Titan Ind sets up boutique in Banjara Hills

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  2009

- Titan Industries has posted a profit after tax of Rs. 46.04 crore for the quarter ended

-Reporting a growth of 41% over the same period last year.

Future plans
-Retail expansion continued with opening of 18 more stores across all categories and brands.

-The total retail space under the Company’s control now exceeds 600,000 sq. ft.

-Titan eyes is aiming at a five-fold increase in its overseas business to Rs 500 crore over next 5yrs

-Titan Industries is targeting a seven-eight percent share of the gold jewellery market by 2015

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 CONCLUSION

In this project, we covered all the topics belonging to the “MANAGEMENT

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