TITAN COMPANY Ltd.

CHAPTER – 1

Company Profile

1.1-Brief history of the organisation and current board of directors

1.1.1-History
Titan Company Limited (Titan) is a joint venture between the Tata Group and the
Tamil Nadu Industrial Development Corporation (TIDCO). The company is engaged in
manufacturing of watches jewellery precision engineering and eyewear. With India's two most
recognised and loved brands Titan and Tanishq to its credit, Titan Industries is the fifth largest
integrated watch manufacturer in the world.
The Company was incorporated on 26th July 1984 at Chennai under the name Titan
Watches Limited. 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.In the same year 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.
In the year 1986,the company commenced their production. They also signed a MoU
with Casio proposing to manufacture 2 million digital and analog-digital watches. By the year
1987, a manufacturing facility was established at Hosur for the manufacture of components for
watches and the brand Titan was launched. In the year 1989, the Company set up a satellite case
plant at Dehradun, Uttar Pradesh, Uttarakhand at present with a capacity of 5,00,000 watch
cases per annum to improve operating efficiency and reduce costs .
In September 1993, the company's name was changed from Titan Watches Limited to
Titan Industries Limited since the company was in the process of launching jewellery as well.
The Company introduced "Tanishq" range of watches made of 18 carat gold and studded with
precious stones in the year 1994.In 1998, the company launched its watch & accessories brand,
Fastrack, targeted at a younger audience in a bid to compete with Timex.
In 2001, Titan launched kids’ watches brand, Dash but due to it's bad performance in
the market, it was discontinued in 2003.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. 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. Titan Industries made its foray into eyewear in the year 2007,
offering a variety of differentiated products to the end consumer consisting of frames,
prescription lenses, contact lenses and accessories.

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 The company made a major strategic move in 2011-12 which was the acquisition of
Favre Leuba, a heritage Swiss watch brand, to enter into the European market. This acquisition
provided the Company wide international market access through a legendary brand. In 2011-
2012 Fastrack products extended into accessories (bags, belts, wallets, wristbands).Titan also
launched HTSE by Titan, a hi-tech self-energized watch that is powered entirely by light. In 2013,
Titan entered the fragrances segment with the brand Skinn. In the same year, it changed its name
from Titan Industries Limited to Titan Company Limited.
In 2014 the Company entered into a Joint Venture agreement with Montblanc for
establishing operations in India for carrying on single brand retail trade. On 23 November 2015
Titan announced that it has joined forces with HP Inc., one of the world's leading information
technology companies to launch a range of smart watches in India and selected international
markets and through this collaboration, Titan entered the wearable devices market by
introducing its smartwatch, Juxt in 2016.In the same year, Titan opened prescription lens
manufacturing facilities in Noida, Kolkata and Mumbai to improve its order processing time,
Tanishq took over Carat Lane to offer beautiful jewellery and a distinctive shopping experience
that fits today’s values and lifestyles and "Taneira", an ethnic wear brand from Titan that retails
hand-woven sarees from different weaving clusters of India was launched and the first retail
store was opened in Bengaluru in 2017 with more stores followed in New Delhi and Hyderabad.
In 2017, the company launched a fitness tracker, named "Gesture Band" under its youth
accessories brand, Fastrack. In the same year, it invested $3 million in a Singapore based
wearable tech company, CoveIoT.
1.1.2 – Board of Directors

► Chairman -Mr N Muruganandam

► Vice Chairman - -Mr. N N Tata

► Directors - -Mr. Bhaskar Bhat

-Mr. Arun Roy

- Ms. Kakarla Usha

► Manging Director - Mr. C K Venkataraman

► Independent Directors -Mrs. Ireena Vittal

- Mr. Ashwani Puri

- Mr. B. Santhanam

- Mr. Pradyumna Vyas

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 -Dr. Mohanasankar Sivaprakasam

-Ms. Sindhu Gangadharan

1.2 – Mission/ Vision statement, Quality policy followed and Quality

certification attained.
1.2.1 - The Titan Mission:
We do this through a pioneering spirit and a caring, value-driven culture that fosters innovation,
drives performance and ensures the highest global standards in everything we do.

The Titan Vision:

“We create elevating experiences for the people we touch and significantly impact the world we
work in.”
1.2.2 - Quality Policy followed by the company
→Meet the requirements of ISO 9001: 2015.
→Meet customer requirements.
→Focus on customer satisfaction and perception.
→Continually improve the effectiveness of our Quality Management System.
1.2.3 - Quality certification attained by the company
As a recognized system supplier, TITAN Strapping GmbH & Co. KG makes it possible
to obtain and maintain the necessary certificates. Quality is their number one priority. Their
quality management system is ISO 9001 certified. In addition, the company fulfills the sector-
specific requirements for occupational health and safety according to NLF / ILO-OSH and has
been certified by the German Quality Assurance Association.

1.3 – Business process of the organisation – Product profile

1.3.1 – Business process of the organisation
The business divisions of Titan Company Ltd are :-
Watches and Accessories
Jewellery

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 Eyewear
New business division (Skinn and Taneira)

►Manufacturing process :
→Time product division (Watches, Accessories and Precision Engineering)
All the parts of the watch are manufactured in their own manufacturing outlet. The
subsidiary in Goa manufactures integrated circuit boards while the unit in Hosur manufactures
all the Assembly Parts. Though they have the capability of manufacturing watch bracelets, they
outsource the same as is it is more cost effective. A watch has to go through a variety of pre-
production processes before it reaches a consumer. The manufacturing of a watch involves
various stages including conceptual drawing, prototype, product drawing, production plan, tool
drawings, tool manufacture, tool trial and product approval. The manufacturing unit at Hosur
has all the manufacturing departments including auto turning, gears and sub assembly, press
shop, ebauche, treatment, case press shop, case machine shop, case polishing, case plating, case
assembly, assembly, press shop, machining, polishing, assembly, press shops, machine processes,
polishing, ion plating and assembly.
For the Fastrack sunglasses, they create the design inhouse and tie up with specific
vendors to manufacture them in line with their specifications. Titan handles the distribution and
after sales service through its retail network.
Precision engineering manufacturing units are located at Hosur, Tamil Nadu and at
Bommasandra (near Bangalore), Karnataka. The manufacturing unit at Hosur was initially set up
as a clock and bracelet manufacturing unit and was later converted into a precision engineering
manufacturing unit. Their manufacturing facilities include special processes like heat treatment,
coatings, honing, and fine surface finishing. They also have testing facilities that include special
non-destructive testing and materials engineering.
→Jewellery Division
The jewellery manufacturing facility was set up in 1994 at Hosur. The manufacturing
process in machine made jewellery involves designing, refining, waxing and casting, soldering,
sizing, linking, enamelling, stone setting, polishing, colouring and plating.

►Design Team :
→Time product division (Watches, Accessories and Precision Engineering)
The Titan Design Studio caters to the design needs of the Time Products Division. The
Design Studio is responsible for developing the design for various new products that they
propose to launch. Typically a new product development process begins with a written brief
from the marketing department, to technical drawings, prototyping, cost approval and finally
bulk production.

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 The design and development process of precision engineering includes concept
design followed by prototyping and customer approval for coordination till the product is finally
delivered to the intended market. They have an in house design team which has considerable
experience in tool design, mould design, and tool and die making.
→Jewellery Division
They have a full-fledged design studio with a team including international award
winning Indian designers. Tanishq is constantly innovating and introducing new collections
based on various looks and themes - both contemporary and traditional, to fit every occasion and
mood.

►Quality Assurance :
→Time product division (Watches, Accessories and Precision Engineering)
Cementarnica USJE AD has implemented a Quality System ISO 9001:2000 since July
2003. The Quality System is designed with a final objective the application of total quality
principles in all Company’s activities.
The Precision Engineering SBU is equipped with calibration and testing facilities to
calibrate instruments and conduct Measurement System Analysis (MSA) of instruments. They
have also tied up with external laboratories, accredited with ISO 17025 for calibration, material
testing, and plating thickness test.
→Jewellery Division
They guarantee the purity of our gold jewellery and certify the quality of our
diamonds and coloured gems. They have established themselves as a highly ethical player in a
market that was rated as having the highest incidence of undercarriage.

►Branding and Advertising :

→Time product division (Watches, Accessories and Precision Engineering)
The Company handles advertising at the national and regional levels. This includes
national advertising in the press and TV and producing and distributing point of sale material
like posters. To supplement national advertising by the Company, retailers are also encouraged
to engage in local advertising to inform customers about the location and availability by
including dealers names and address and to increase customer traffic during festival times and
lean periods.
→Jewellery Division
The jewellery division of the Titan Company handles the advertising and promotion
mainly through print ads and digital ads and campaign.

►Marketing, Sales and Distribution :

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→Time product division (Watches, Accessories and Precision Engineering)
The sales and marketing unit was created with the intention of broad basing their
sales and marketing activities across the country both in terms of town coverage, dealer network
and new approaches to communication strategy, especially in non-metros. Through the sales and
marketing unit they planned and implemented sales and marketing activities to achieve their
targets, fine tune all marketing inputs in terms of media and other budgets to meet territory
specific needs, identify performance targets with specific responsibility centres and improve cost
effectiveness of their operations.
→Jewellery Division
Tanishq jewellery is sold exclusively through three types of stores namely :- (a)
Company operated stores, (b) Management Agent stores and (c) Franchised stores.Tanishq has
undertaken certain marketing initiatives, including launching a heritage special collection and
conductingsales promotion schemes to activate the market and attract customers. These
marketing activities are usually on the basis of collections, seasons and certain customer
schemes.

1.3.2 – Product Profile

WATCHES :
Titan : It is designed for the mid-premium segment. The Titan brand architecture
comprises of several collections and sub-brands, each of which is a leader in its own space.
Notable among them are: Titan Edge - world's slimmest watch, Titan Raga – Made for the
bold and beautiful woman of today, Nebula - crafted with solid 18k gold and precious
stones. Several other popular collections like Purple, Automatic, Octane, HTSE and Zoop
also form a part of the Titan portfolio.
Fastrack : It is crafted to fit the trendy fashion space with a focus on the youth. Through the
years, Fastrack has emerged to be the voice of the youth- pioneering trends and creating
new norms Fastrack extended its footprint into accessories in 2009 with a range of bags,
belts and wallets.

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Sonata : It is created for the mass market and has emerged as India’s largest selling watch
brand. With an eye for aesthetics and through relentless innovation and sheer passion,
they have created more than 700 watch designs that are available across 8,000+
authorized watch outlets and the exclusive World of Titan stores.
Zoop : 'Zoop' from Titan is a range of cool and vibrant watches that stand for fun and
youthfulness. Each watch from ZOOP's wide array of collection is uniquely designed to
cater to a child's desire to be trendy yet stylish.
Octane : It is created specially targeting at the men’s segment. Designed with precision,
these watches feature versatile chronographs and reliable tachymeters.
Xylys : It is an exclusive brand of Swiss-made watches brought home by Titan. It caters to
the premium market, aiming at the connoisseur and new-age achiever. The Xylys range of
watches comes in three collections, Contemporary, Classic and Sport, and offers over 100
distinctive models.
Titan Raga : The brand boasts of a range of watches that can give ethnic wear a stylish
edge, and a contemporary ensemble a traditional twist.
Favre- Leuba : The new instruments from the Raider and Chief collection from Favre-
Leuba are designed to appeal the contemporary audience as well as the collectors who can
notice the continuity of the design elements in the collection.
Nebula : It is an exclusive collection of 18k solid gold jewellery watches from Titan
Company Ltd.. There are over 100 models for men and women crafted in 18k and 22k gold,
the elegant watches are a blend of the rich heritage of Indian jewellery and the fine
craftsmanship of watch making.
SF : The brand SF is committed to offering its consumers watches that represent the spirit
of adventure embodied in each one of us. The brand regularly introduces exciting new
collections, which connect with the various facets of adventure in the outdoors.
JEWELLERY :
Tanishq : Tanishq has emerged as India’s fastest growing jewellery brand and is a name
which signifies superior craftsmanship, exclusive designs and superlative product quality.
The present major ranges of collections under Tanishq are – Aarambh, Nyusha, Virasat,
Ahalya, Swayahm, Preen, Utsava, Gulnaaz, Aveer, Glitterati, Mirayah and Shubham.
Mia : Mia collection has made everyday office wear more glamorous and is directed
towards working woman. It is a brand of modern and chic jewellery for the young and the
stylish, the bold and the experimental. Mia by Tanishq crafts fine jewellery for the Mia
woman's every day, in designs that are unique, minimal and extremely versatile.
Zoya : Zoya offers premium studded jewellery catering to the needs of the elite. The
enchanting jewellery patterns originate in the well-equipped exclusive jewellery design
studio of Titan

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 EYEWEAR :
Titan EyePlus : It offers Indian consumers a world-class optical retail experience through
products which showcase the best in contemporary design & style, coupled with
guaranteed optical expertise. They offer a variety of differentiated products to the end
consumer consisting of frames, lenses, contact lenses and accessories. Frames are available
in both international brands (Levis, Esprit, Hugo Boss etc.) and in-house brands – Titan,
EyePlus and Dash(for children).In terms of optical lenses, the company offers its own
products as well as three international brands. Lenses are further classified as follows:
Material: Titan Crystal, Titan Lites, Titan Pinnacle.Titan EyePlus houses contact lenses
from Bausch and Lomb, Johnson & Johnson and Cibavision.Titan EyePlus has a variety of
international brands of Sunglasses(like Tommy Hilfiger, Esprit etc.) in addition to
Fastrack-a well-known brand from Titan Company Ltd.
NEW BUSINESS :
Skinn : With the combination of the best international fragrance expertise and one of
India’s most trusted brands; Skinn Titan redefines the Indian fragrance industry with its
product offering. The current portfolio of Skinn includes 6 exciting variants in the EDP
(Eau De Parfum) format and are crafted to last longer with notes that endure and grow
pronounced with time.
Taneira : Taneira is a celebration of the diverse textiles and workmanship available in
India. With sarees made only from pure and natural fabrics, the brand offers close to 3,000
sarees in each store from over 50 regions in India. Taneira is targeted at the rooted yet
progressive Indian woman with its heart-warming proposition :– sarees, handmade with
love.

Brand Watches Jewellery Eyewear New Business

Luxury Favre-Leuba Zoya

Xylys
Premium Tanishq
Nebula
Titan Taneira
Fastrack CaratLane Titan EyePlus Skinn
Mid Market
SF Mia Fastrack Fastrack
Zoop perfumes
Mass Market Sonata

1.4 – Customers of the organisation- Level of Operations

(Global/National/Regional)
1.4.1 – Customers of the organisation

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 Titan Company has a wide range of customers all over the world. They reach out to
their customers through their multibrand outlets and online stores.They have more than 11,000
multibrand outlets selling their watches and above 1700 stores with 2.2mn+ sq.ft retail
space.Titan brings in products in different categories ranging from luxurious products like
Favre-Leuba or Zoya to casual daily wears like sonata watches. Each and every product of theirs
are targeted on a specific category of customers.
→Mia offers trendy designs at affordable price points and is targeted at young, aspirational
women.
→Zoop Watches targets on kids.
→They launched a fitness tracker with a heart rate monitor under the name "Reflex Beat"
targeting on health concerned customers.
→They also launched seasonal collection like 'Game of Thrones' collection, based on the popular
series and ‘Road Trip’ collection to cater to the travel-inclined youth.
→Fastrack , the third major brand under Titan, was launched targeting on the youth customers
which was also a great success.
→Their Raga 9 to 5 collection targeted modern Indian women while their Titan Flip and Titan
Edge collections targeted technology savvy young professionals.

Lu Luxury F Favre-Leuba ,Zoya

Premium Xylys, Nebula, Tanishq

Mid Market Titan, Fastrack, SF, Zoop, CaratLane, Mia, Titan Eyeplus, Fastrack,
Taneira, Skinn, Fastrack perfumes

Mass Market Sonata

1.4.2 – Level of operation (Global/ National/ Regional)

Titan Company Ltd has a global level of operation. Once the company established
itself in the domestic market, it leveraged its scale and experience in brand building in the watch
business to make its presence felt in the global markets. It consciously recognised that customer
choices and hence international designs for watches are different in the European markets from
those that are popular in India. Accordingly it invested in building designing capabilities for the
international markets. International Business Division was formed in the financial year 2004-05
for watches, jewellery and other products of Titan. The globalisation efforts of the company
rested with this division with a sharp focus on country prioritisation, market positioning and
identification of profitable business opportunities across the globe. International Business
Division was formed in the financial year 2004-05 for watches, jewellery and other products of
Titan. The globalisation efforts of the company rested with this division with a sharp focus on

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country prioritisation, market positioning and identification of profitable business opportunities
across the globe.
Titan's globalisation at a glance:
→Fifth largest integrated watch manufacturer in the world.
→Products exported to more than 32 countries.
→Launched its own brand in many countries.
→Entered into a joint venture to sell products of Swiss luxury brand Montblanc through its
retail outlets.

1.5 – Competitors of the company

Titan Company's competitors:
→Maxima.
→Citizen.
→Timex.
→Seiko India.
Competitor Analysis :
►Maxima:
Maxima is an Indian watch manufacturer that was founded in 1996 is part of the PA
Group of industries. Maxima operates in the mass segment and competes with Sonata of Titan.
Similar to Sonata, Maxima offers wide range of watches in the price range of Rs.300 to Rs.4000
for men, women, kids and couples category.
Products offered include: Fashionable watches for both men and women with quartz
movements for accurate time, promotional watches that can be embossed with a company name,
Gold watches, waterproof watches and specialty watches for scuba divers Today Maxima is
available in every part of the country with the support of over 80 distributors, 6000 loyal
retailers and e commerce platforms including the company website.
►Citizen:
Citizen Watches Co. Ltd. of Japan, a US$ 3.7 Billion, multinational company with a 70
year heritage, sells world-class watches in more than 150 countries worldwide. As one of the
world’s leading watch brand with renowned Japan watch making art, CITIZEN was officially
introduced into India through its local subsidiary company, Citizen Watches (India) Pvt. Ltd. in
1997. The entry was heralded by the revolutionary concept, Eco-Drive the world’s 1st light
powered watches, lending an air of excitement and expectation around the brand and adding to
the excellent equity CITIZEN already had enjoyed in India.

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 Citizen has two collections: Eco-Drive and Pro-Master. Each of the collections are
further categorized into Complications (watches with features like Chronograph, Perpetual
Calendar, Twin date Calendrer), Professional Sports and Radio-Controlled watches. The watches
are priced between Rs.3000 to Rs.39000 and target both men and women in the mid-premium
segment.

►Timex:
Timex Group India Limited is engaged in the manufacture and trade of watches in
India and internationally. Timex company was founded in 1854 it offers wrist watches primarily
under the Timex, Helix, Marc Ecko, Tarun Tahiliani, Salvatore Ferragamo, and Versace brand
names; and manufactures precision injection moulds and injection moulded plastic parts for
watch business, as well as provides spares and after sales service to its customers. Joint venture
between Timex Corp, USA and Titan Industries, where both the partners held 30 per cent equity,
20 parted ways in 1998.
Most of the Timex watches are priced in the range of Rs.1000 to Rs.25000, but it has
offering up to Rs.16000. Timex mainly offers watches in outdoor, sports and style category.
Intelligent Quartz, Weekender, Expedition, Sports Ironman, E-class, Classics, Bangle are some of
its collections. Bangle is a brand targeted at women and Intelligent is only for men. Other
collections are either unisex or have products for both men and women.
►Seiko India:
Seiko Watch India Private Limited is a 100% subsidiary of SEIKO Watch Corporation,
Japan. Set up in 2007, it is headquartered in Bangalore. Sells around 350 watch models with
prices starting from Rs 7000 to around Rs 5,00,000. The main sub-brands under Seiko are Seiko
Velatura, Seiko Premier, Sports, Astron, Seiko Grand and Ananta which are targeted at the
premium and luxury segment and compete with other brands such as Tissot, Xylys, Omega and
Rado. Seiko takes pride in the fact that they invented the quartz watch in 1969, the Kinetic watch
in 1988 and Astron GPS Solar-The only watch in the world that identifies all 39 time zones using
the GPS technology in 2012.22
Seiko has come a very long way since they launched the brand in India in 2007. As of
2014 they are one of the top 3 brands in the Premium segment of the Indian Watch Market. They
retail Seiko from more than 350+ of the best stores in the country. Between 2010 and 2013 the
company has grown at a CAGR of around 50%. India is one of the top 4 priority markets for Seiko
Watch Corporation, worldwide.

1.6 – Strategies – Business, Pricing, Management

1.6.1 – Business Strategies followed by the company
→Titan will invest in its watch brands to create profitable, desirable and powerful brands.

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→Titan will widen its products range very rapidly which will suit to the need of every budget
customer from the common man to the elite category.
→Titan will create a delightful shopping and service experience for its consumer and build
enduring and profitable relationship with its associates.
→Titan will improve manufacturing efficiencies and reduce capital employed in order to achieve
significant cost reduction and improve profitability.
→Titan will use its core competencies in the areas of design and retailing to extend the brand
strengths to other prestigious, personal accessory category.
→Titan will ensure that it continuously delivers increasing profits and profitability to its
shareholders.
1.6.2 – Pricing strategies followed by the company
►Premium pricing (also called prestige pricing) is the strategy of pricing at, or near, the high
end of the possible price range. People will buy a premium priced product because:
→They believe the high price is an indication of good quality.
→They believe it to be a sign of self-worth - "They are worth it" - It authenticates their success
and status; it is a signal to others that they are a member of an exclusive group.
→They require flawless performance in this application - the cost of product malfunction is too
high to buy anything but the best.
►Demand based pricing refers to any of the pricing methods that use consumer demand as the
central element. These include: price skimming, price discrimination and yield management,
price points, psychological pricing, bundle pricing, penetration pricing, price lining, and premium
pricing.
At Titan, different price policy is adopted for different brands of products. Titan has a
wide range of brands to offer to the common man to high profile persons. For example, Sonata,
India's largest selling watch brand, offers stylish looks at affordable prices. The thoughtfully
crafted designs encompass the aspirations of young India. The boldness and uniqueness of each
design reflects the confidence of the wearer. The brand offers a variety of looks, to suit every
occasion and every wallet:
→Dressy Sona Sitara watches for special occasions.
→ Bold Yuva watches crafted in steel for today’s confident youth.
→Contemporary Office Wear watches with formal appearance and leather strap.
→Stylish and Strong Super Fibre watches
1.6.3 – Management strategies followed by the company
→They associate the name of century old Tata strongly with the brand to gain trust of people and
to induce trials.

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→In the watches market their strategy is to promote ownership of multiple watches and
frequent replacement of watches amongst existing owners with their ‘Titan’ brand of watches.
They aim at creating demand for multiple ownership of watches. They focus on innovation to
consistently come up with new styles and technology introductions to create demand for
multiple watch ownership. They focus on mass market like Sonata as well as premium brands
like Nebula.
→In the jewellery division they intend to make Tanishq, the most desirable jewellery brand for
the Indian women, by reinforcing it as an experiential retail brand through differential service,
best in class designs and optimum variety to cater to diverse tastes. They intend to further
improve their market based planning of merchandise to ensure adequate supply of quantity as
well as variety at each store. This will ensure better inventory management which is critical in
the capital intensive jewellery business.
→One of their strategy is that they try to provide various products for specific price points and
target audiences. Since inception, they have attempted to provide their customers, with quality
products at a wide range of prices. As part of a conscious branding and pricing exercise, they
have developed several products for varying consumer demographics across different price
segments.

1.7 – CSR Activities

The company has a well-defined policy on social responsibility. Titan's CSR strategy
includes elements related to good governance, human rights, environment protection and
sustainable development, as well as community, social, economic and cultural development. The
CSR focus at Titan is be driven by broad themes such as upliftment of the underprivileged girl
child, women empowerment, skill development for the underprivileged and support for Indian
Arts, Crafts and Indian Heritage.
During the year 2019-20, the CSR programs have reached out to 3.52 lakh individuals.
The key highlights during the year were :
→The Girl Child Education initiative through a combination of Employee engagement and
support by Business Associates has reached out to 38,000 girl children.
→The Titan LeAP Centre for skilling through its combination model of skilling for employment,
employability and entrepreneurship and skilling for the differently abled is running to its full
capacity.
→The Grantees of Design Impact Program have made significant progress during the
penultimate year of the Program.
→Launch of a Mobile Rural Vision Screening Program - a customised bus that augments the Eye
Care Program to reach out to the hinterlands of Karnataka.

1.8 –Export and Import

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1.8.1- Export / International Operations
The company’s export turnover is usually high but the non-smart segment of watches
faced headwinds in markets across the globe in the year 2019 and since January 2020, the
COVID-19 global pandemic caused a significant slump in business during the last quarter of the
previous year. The key challenge in exports of Watches and Jewellery is identification of
profitable business opportunities across the globe, given the immense competition and clutter of
brands in overseas markets. They export watches to about 32 countries around the world. Over
the past couple of years, they have been reaching out to overseas customers through their brand
e-commerce sites. Titan Export Services, Inc. was incorporated in year 2014 and issued company
Id P10000059568. Titan Export Services, Inc. has been on the market till now and it is now
active. Main business is located in Doral. This company was first added to Florida company
register on 4th June 2014.

Sea Freight Air Freight

→ Flat rack, open top container →Ex-work factory handling
→Mavy trailers, reefer container →Space Charter
→General cargo →Accurate and efficient handling for
perishable tracing

→Break bulk coordination →24 services for export and import traffic
→Transhipment - Project cargo →Door to door deliveries
→Hazardous, fragile & handling
→Export consulting - cost saving
→ Door to door agents network
→Marine agency - Ship supply
→Selling, buying, and maintaining ships
→Sampling and analysis and Tallying

Of late Indian exporters of Titan-Watches have been aggressively marketing

themselves in the foreign markets. They have received good response from several countries and
so are upbeat about their prospects. Their confidence and performance is well reflected in
India’s exports of Titan-Watches. Singapore is one of the largest buyers of Titan-Watches from
India. The other big buyers of Titan-Watches are United Arab Emirates and Saudi Arabia.
Bangalore Air, Bangalore ICD, Raxaul, Delhi Air are the main ports where bulk of Titan-Watches
is exported from to the above mentioned countries.
The HS Codes for Various Product Variants of Titan-Watches exported are as follows:
→The HS Code for QUARTZ ANALOG WATCHS-TITAN (MODEL NO: ASPER ANNEXURE) (MEIS) is
91021100.

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 →The HS Code for QUARTZ ANALOG WATCHES- TITAN (MODEL NO:AS PER ANNEXURE) (MEIS)
is 91021100.
→The HS Code for QUARTZ ANALOG WATCHES- TITAN (MODEL NO:AS PER ANNEXURE) (MEIS)
is 91021100.
→The HS Code for QUARTZ ANALOG WATCHES - TITAN (MODEL NO:AS PER ANNEXURE) (MEIS)
is 91021100.
→The HS Code for QUARTZ ANALOG WATCH - TITAN (MODEL NO: AS PER ANNEXURE) (MEIS)
is 91021100.

1.8.2 – Import
Titan Industries Limited is a leading importer of CNC wire CUT EDM machine "AGIE"
make type classic 2s, display mechanism platform 7536 (watch movement parts), plastic LCD
watches (Brand: Titan/Fastrack) AD28-0ABB, silicone rubber watch straps W5-20-60-5395U,
watch band, having HS Codes 84563000

1.9 – Collaborations and Expansion plans

1.9.1 – Collaborations during the year 2019-20
→The brand collaborated with Khadi and Village Industries Commission to co- develop a set of
two watches for men and women.
→They had a collaboration with the movie ‘Mission Mangal’ to launch a range of Sonata watches
inspired by the women scientists in the film and this was the first time that our brand associated
with a movie.
→Under Happy Eyes, a CSR initiative by Titan, a comprehensive Eye Care programme, a mobile
eye care unit has been launched in collaboration with Sankara Eye Hospital.
→ “Game of Thrones” and “Sunburn”. The “Game of Thrones” collection was a collaboration with
one of the greatest shows of our times.
→A collaboration of Titan raga with Masaba Gupta
1.9.2 – Expansion plans
The nationwide lockdown to control the spread of the novel coronavirus outbreak had a great
impact on the company's expansion plans.
→Titan’s future growth plans are comprised of increasing market shares as well as improving
sales through change in product mix.
→They are planning to accelerate their omni-channel marketing strategy with a renewed focus on
e-commerce as customers look to increasingly shop online.

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→ They are reimagining customer convenience by offering options such as ‘try-at-home’ to
‘endless aisle’ to video shopping.
→ They are focused on driving relevant product innovations across their different businesses to
capture mind and market share.
→ In the Jewellery Division, they are planning to create a strong product portfolio at affordable
price points.

1.10 – SWOT analysis of the company

The SWOT analysis of Titan discusses the Strength, Weakness, Oppurtunities and threats of one
of the biggest watch company in INDIA.
1.10.1 – Strengths in the SWOT analysis of Titan
→The varied offerings to diverse segments with a clear cut positioning.
→The quality of watches is impressive.
→Innovation is core to its strategy.
→Visual merchandizing has been Titan’s strength ever since its inception.
→Good retail network by “WORLD OF TITAN”.
→Excellent customer service.
→International tie-ups with Hugo Boss and Tommy Hilfiger.
1.10.2 – Weakness in the SWOT analysis of Titan
→Waterproof watches not a part of its kitty.
→ Rural India does not form a substational part of customer base.
→Kids are fascinated with mobile phones rather than watches and incidentially,
then show the time.
1.10.3 – Oppurtunities in the SWOT analysis of Titan
→ Under penetrated market for watches as only 35% of INDIAN population possesses watches.
→ Watches positioned as a fashion wear rather than just utility products.
→With a changing consumer attitude, people like to possess multiple watches for different
occasions and events.
→ Huge market in the exchange business and even the introducing of waterproof watches.
→Rural market may be trapped.
1.10.4 – Threats in the SWOT analysis of Titan
From Competitors :-

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→Maxima.
→Citizen.
→Timex.
→Seiko India.
→Hinese watches
→Greymarket and other unorganised sector
→Mobile phones & wall clocks, are substitute to watches
→The fashion trend keeps changing

1.11 – Organisation chart

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