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Titan Company

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.

Titan Company Latest Logo

Type Public
Traded as BSE: 500114
NSE: TITAN

ISIN INE280A01028

Industry Lifestyle

Founded 1984
Founder Xerxes Desai [1]
Headquarters Chennai[2], Tamil
Nadu, India

Area served Worldwide

Key people Vikram Kapur
(Chairman)
C K Venkataraman
(MD)
C K Venkataraman,
CEO [3]
S Ravi Kant, CEO
(Watches &
Accessories)[4]
Ronnie, CEO
(Eyewear)[5]
Products Watches, Jewellery,
Precision engineering,
Bags, Perfumes,
Belts, Wallets and
Eyewear
Revenue ₹156.56 billion
(US$2.3 billion)
(2018)[6]

Net income ₹11.63 billion

(US$170 million)
(2018)[6]

Number of 6,858 (March 2018) [7]

employees

Parent Tata Group

TIDCO
Subsidiaries Titan Engineering &
Automation Limited,
Favre-Leuba,
CaratLane, Titan
Watch Company
Limited (Hong Kong)

Website titancompany.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]

History

1984–1990 …
Titan Company Limited was inaugurated
on 26 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]
1991–2000 …

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]
2000–2010 …

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–present …

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]

Taneira is an ethnic wear brand from Titan

that retails hand-woven sarees from
different weaving clusters of India.[27]  The
brand was launched in 2016.  The first
retail store was opened in Bengaluru in
2017 with more stores followed in New
Delhi and Hyderabad.[28]

In 2016, Titan entered the wearable

devices market by introducing its
smartwatch, Juxt, made through a
collaboration with Hewlett Packard.[29] In
2017, the company launched a fitness
tracker, named Gesture Band under its
youth accessories brand, Fastrack.[30] In
the same year, it invested $3 million in a
Singapore based wearable tech company,
CoveIoT.[31] In 2018, the company added
new fitness tracker bands. The company
had a 7.4% market share in the wearable
devices market as of 2018.[32] But Titan
becomes center of controversies after
their Latest watch Ad glorifying a
particular caste identity as Tamil identity,
and mischievously degrading Tamil
sentiments, due to that
#BoycottTitanWatches becomes trending
in Twitter on December 08, 2019. [33][34]

Products

Watches …
The watches division comprises brands
Fastrack, Sonata, Raga, Octane and Xylys.
In 2011, the company secured licence for
marketing and distribution of Tommy
Hilfiger and Hugo Boss watches.[35] Favre
Leuba was incorporated in 2012. In 2018,
the division accounted for ₹2,126 crore in
revenue which was 10% of the total of the
company.[36]

Eyewear …

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, and sunglasses.[37]
The division accounted for ₹415 crore in
FY 2016-17 maintaining a stable growth of
8%.

Jewellery …

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.[38] In 2016,
Titan invested in CaratLane who reported
a turnover of ₹290 crore in FY 2017-18.

Perfume …

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.[39]
.

Subsidiaries
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.[40]

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.[40]

Carat Lane Trading Private Limited was

founded in 2007 and Titan acquired 62%
stake in 2016 at the cost of $50 million. [41]

Titan Watch Company Limited, Hong Kong,

is currently a 100% subsidiary of Favre
Leuba AG, Switzerland.[40]

Joint ventures
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%.[42]

Board of directors/senior
management[43]
 Position Personnel

Chairman Vikram Kapur[44]

Managing director CK Venkataraman

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[45]

Director T K Arun

Company secretary Dinesh Shetty

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[46]
Titan ranked among the 100 most
sustainable corporations in Asia in the
Channel News Asia Sustainability
Ranking 2014[47]
Top Indian Company award under the
Gems and Jewellery Sector at the Dun &
Bradstreet Corporate awards, 2014[48]
"Hall of Fame" award at 12th Franchisee
Awards 2014 by Franchisee India[49]
Watches
Award at the CII 24th Kaizen national
awards for assembly casing team[50]
Good Design Award 2014 by design
Council of Japan for Skeletal Edge[51]
"Best Product design of the year-
Watches & Jewellery" award by Red Dot
for Skeletal Edge for 2014[52]
Bronze medal at the Indian Effies Award
for Fastrack[53]
Jewellery
"Most Admired retailer of the year"
award in Jewellery Category by Images
Retail Awards[54]
Tanishq wins Global Awards for
Excellence in Quality Management &
Leadership by World Quality
Congress[55]
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[56]
Eyewear
 Award for Customer service excellence
at Golden Globe Tigers Award[57]
Gold & Silver Awards at TRRAIN (Trust
for Retailers and Retail Associates of
India) Retail Awards[58]
Gold Award in the Outdoor Advertising
Convention 2014[59][60]
Precision engineering
Hosur won three State Safety Awards
announced by Tamil Nadu Government
in 2013[61]

Social Initiatives
In 2018, as part of their corporate social
responsibility the company sponsored
entrepreneur and skater Rana Uppalapati’s
mission titled Titan ECHO (Educate to
Carry Her Onwards), to raise support for
the education of 25,000 girl children in
India.[62]

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. "Annual Report for the FY 2017-18"
(PDF). bseindia.com. 16 August 2018.

7. "Titan Company Ltd Management

Discussions" . indiainfoline.com.
Retrieved 7 October 2018.
 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. "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.
23. "Titan Company Ltd" . Business
Standard India. Retrieved 3 November
2018.
24. "Titan Company enters into JV with
Montblanc Services BV, Netherlands" .
Money Control. Retrieved 3 November
2018.
25. "For expansion, smaller units under
Titan Eyeplus lens" . Hindu Business
Line. Retrieved 3 November 2018.
26. "Titan to merge 'Gold Plus' brand with
Tanishq" . Business Standard India. 16
January 2017. Retrieved 3 November
2018.
27. "Titan's ethnic wear brand Taneira to
open 50 outlets in 5 years" . ET Retail.
Retrieved 3 July 2019.
28. "Titan plans to spread Taneira saree
store network" . The Hindu. 6 May
2019. Retrieved 3 July 2019.
29. "Titan launches smartwatch JUXT with
HP Inc" . The Economic Times. 20
January 2016. Retrieved 3 July 2019.
30. "Fastrack eyes the No. 2 position in the
smart wearables category in India" .
Hindu Business Line. Retrieved 3 July
2019.
31. "Titan invests in wearable tech startup
CoveIoT: Report" . MediaNama. 7
November 2017. Retrieved 3 July
2019.
32. "Exclusive: Titan to expand into smart
watches and fitness wearables, says
MD Bhaskar Bhat" . cnbctv18.com.
Retrieved 3 July 2019.
33. [http://
dailyhunt.in/news/india/tamil/kalaigna
r+seithigal-epaper-
kalainar/ithellam+tamizharkalin+adaiy
alama+kothitha+tamizharkal+binvangi
ya+daittan+niruvanam+boycotttitanwa
tches-newsid-152079754 http://
dailyhunt.in/news/india/tamil/kalaigna
r+seithigal-epaper-
kalainar/ithellam+tamizharkalin+adaiy
alama+kothitha+tamizharkal+binvangi
ya+daittan+niruvanam+boycotttitanwa
tches-newsid-152079754] Check
 |url= value (help). Missing or empty
|title= (help)
34. https://www.tweet247.net/india/boyco
tttitanwatches/amp . Missing or
empty |title= (help)
35. "Titan Co: Reports, Company History,
Directors Report, Chairman's Speech,
Auditors Report of Titan Co" .
www.ndtv.com. Retrieved 5 December
2018.
36. "Titan witnesses good growth in,
watches in FY18" . www.livemint.com.
7 April 2018. Retrieved 5 December
2018.
37. "Titan Eye+ sees huge potential in
Indian eyewear market" .
www.retail4growth.com. Retrieved
5 December 2018.
38. "Titan targets₹40,000 crore from
jewellery business by FY23" .
www.livemint.com. 22 July 2018.
Retrieved 5 December 2018.
39. "Titan launches SKINN, a new range of
perfumes" . GQ India. 20 September
2013. Retrieved 5 December 2018.
40. "Subsidiaries Titan Corporate" .
www.titancompany.in. Retrieved
20 February 2019.
41. "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.
42. "Titan appoints directors for new JV
with Maison Montblanc" . The Hindu.
PTI. 7 December 2015. Retrieved
20 February 2019.
43. "Company news, Company Analysis,
Company Announcement, Company
Disclosure" . The Hindu Business Line.
Retrieved 9 March 2017.
44. Bureau, Our (26 October 2012).
"Vikram Kapur is chief of Titan
Industries" . The Hindu Business Line.
Retrieved 31 March 2017.
45. Govind, Deepti (4 April 2017). "TIDCO
nominates director to Titan's board" .
livemint.com/. Retrieved 4 April 2017.
46. National Award for the Empowerment
of Persons with Disabilities - 2014
47. Ranking, Channel NewsAsia
Sustainability. "Channel NewsAsia
Sustainability Ranking" . sustainability-
ranking.channelnewsasia.com.
Retrieved 9 March 2017.
48. "Untitled Document" . www.dnb.co.in.
Retrieved 9 March 2017.
49. "Franchise India 2014, Franchise
Exhibition, Franchise & Retail Show" .
www.expo.franchiseindia.com.
Retrieved 9 March 2017.
50. Award at the CII 24th Kaizen national
awards
51. "Good Design Award 2014" by design
Council of Japan for Skeletal Edge
52. VENTURE, TAUREAN. "New Products :
TITAN Edge - An edge over others… -
WATCH MARKET REVIEW" .
watchmarketreview.com. Retrieved
10 March 2017.
53. "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.
54. "IRA 2015 AWARDEES" . India Retail
Forum 2017. 21 September 2015.
Retrieved 10 March 2017.
55. "World Quality Congress & Awards" .
www.worldqualitycongress.org.
Retrieved 10 March 2017.
56. Bureau, Our (10 April 2014). "Tanishq
makes the Interbrand APAC list" . The
Hindu Business Line. Retrieved
10 March 2017.
57. "The Golden Globe Tigers Summit
Awards" . goldenglobetigers.org.
Retrieved 10 March 2017.
58. "TRRAIN" . www.trrain.org. Retrieved
10 March 2017.
59. "Out-Of-Home:NOW Conference 2014 |
THE ADVERTISING CLUB of NEW
YORK" . www.theadvertisingclub.org.
Retrieved 10 March 2017.
60. "OAC 2014 kindles confabulation of
industry heads" . www.printweek.in. 18
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61. State Safety Awards
62. "Rana Uppalapati skates 6,000 kms to
raise funds for girl children" . Deccan
Chronicle. 9 December 2018. Retrieved
3 July 2019.

External links
Titan Homepage
Titan Watches India
Retrieved from
"https://en.wikipedia.org/w/index.php?
title=Titan_Company&oldid=929974575"

Last edited 21 days ago by Nathandevan1

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