Titan Company

Titan Company Limited (earlier known as

Titan Industries Limited) is an Indian
lifestyle company that mainly
manufactures fashion accessories such
as watches, jewellery and eyewear. Part of
the Tata Group, the company is
headquartered in Electronic City,
Bangalore.[6] 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[7] and later that year, it
ventured into the helmets category under
its brand Fastrack.[8]
 Titan Company Limited

Latest Logo of Titan Company

Type Public

Traded as BSE: 500114
NSE: TITAN
BSE SENSEX
Constituent
NSE NIFTY 50
Constituent
ISIN INE280A01028

Industry Lifestyle

Founded 1984
Founder Xerxes Desai [1]
Headquarters Bangalore, Karnataka,
India
Area served Worldwide

Key people Mr N Muruganandam

(Chairman)
C K Venkataraman
(MD)
C K Venkataraman,
CEO[2][3]
Products Watches, Jewellery,
Precision engineering,
Bags, Perfumes,
Belts, Wallets and
Eyewear
Brands Fastrack
Tanishq
Titan Eyeplus
Sonata[4]
Revenue ₹21,204 crore
(US$3.0 billion)
(2020)[5]
Operating income ₹2,271 crore
(US$320 million)
(2020)[5]
Net income ₹1,496 crore
(US$210 million)
(2020)[5]
Total assets ₹13,549 crore
(US$1.9 billion)
(2020)[5]
Total equity ₹6,579 crore
(US$920 million)
(2020)[5]
Number of 7,500 (2020)[5]
employees

Parent Tata Group

TIDCO
Subsidiaries CaratLane
Favre-Leuba
Website titancompany.in

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.[9]

Today, Titan Company is Tata Group's

largest consumer company.[10]

History

1984–1990 …
Titan Company Limited was inaugurated
on 26 July 1984 under the name Titan
Watches Limited in Chennai.[11] 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.[12] 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.[11]
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.[13][14]

In 1994, Titan launched its jewellery brand

Tanishq.[15]

In 1998, the company launched its watch &

accessories brand, Fastrack, targeted at a
younger audience in a bid to compete with
Timex.[16]

2000–2010 …
In 2001, Titan launched kids’ watches
brand, Dash. The brand saw poor
performance and was discontinued in
2003.[17] 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.[18] 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.[19]
2011–present …

A Titan Octane series watch.

Titan acquired Swiss watch maker Favre-

Leuba in 2011 to enter the European
market.[20] In 2013, Titan entered the
fragrances segment with the brand
Skinn.[21] In the same year, it changed its
name to Titan Company Ltd.[22] In 2014, it
entered into a joint venture with Montblanc
to establish its retail stores in India.[23]

In 2016, Titan opened prescription lens

manufacturing facilities in Noida, Kolkata,
and Mumbai to improve its order
processing time.[24] 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.[25]

Taneira is an ethnic wear brand from Titan

that retails hand-woven sarees from
different weaving clusters of India.[26]  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.[27]

In 2016, Titan entered the wearable

devices market by introducing its
smartwatch, Juxt, made through a
collaboration with Hewlett Packard.[28] In
2017, the company launched a fitness
tracker, named Gesture Band under its
youth accessories brand, Fastrack.[29] In
the same year, it invested $3 million in a
Singapore based wearable tech company,
CoveIoT.[30] 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.[31]
Products

Watches …

A Sonata wrist watch.

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.[32] 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.[33]

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.[34]
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.[35] 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.[36]
.

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.[37]
Swiss watchmaker, Favre Leuba, 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.[37]

Carat Lane Trading Private Limited was

founded in 2007 and Titan acquired 62%
stake in 2016 at the cost of $50 million.[38]

Titan Watch Company Limited, Hong Kong,

is currently a 100% subsidiary of Favre
Leuba AG, Switzerland.[37]

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%.[39]

Board of directors/senior
management[40]
 Position Personnel

Chairman Mr N Muruganandam

Managing director CK Venkataraman

Vice Chairman N N Tata

Independent director Mrs. Hema Ravichandar

Independent director Mrs. Ireena Vittal

Independent director Mr. Ashwani Puri

Independent director Mr. B. Santhanam

Independent director Mr. Pradyumna Vyas

Independent director Dr. Mohanasankar Sivaprakasam

Director Bhaskar Bhat

Director Mr. Arun Roy

Director Ms. Kakarla Usha

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[41]
Titan ranked among the 100 most
sustainable corporations in Asia in the
Channel News Asia Sustainability
Ranking 2014[42]
Top Indian Company award under the
Gems and Jewellery Sector at the Dun &
Bradstreet Corporate awards, 2014[43]
"Hall of Fame" award at 12th Franchisee
Awards 2014 by Franchisee India[44]
Watches
Award at the CII 24th Kaizen national
awards for assembly casing team[45]
Good Design Award 2014 by design
Council of Japan for Skeletal Edge[46]
"Best Product design of the year-
Watches & Jewellery" award by Red Dot
for Skeletal Edge for 2014[47]
Bronze medal at the Indian Effies Award
for Fastrack[48]
Jewellery
"Most Admired retailer of the year"
award in Jewellery Category by Images
Retail Awards[49]
Tanishq wins Global Awards for
Excellence in Quality Management &
Leadership by World Quality
Congress[50]
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[51]
Eyewear
Award for Customer service excellence
at Golden Globe Tigers Award[52]
Gold & Silver Awards at TRRAIN (Trust
for Retailers and Retail Associates of
India) Retail Awards[53]
Gold Award in the Outdoor Advertising
Convention 2014[54][55]
Precision engineering
 Hosur won three State Safety Awards
announced by Tamil Nadu Government
in 2013[56]

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.[57]

References
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 Livemint.com. 28 June 2016.
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3. "Titan Co Ltd" . bloomberg.com.
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4. https://www.sonatawatches.in/conten
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. "When an office becomes a people's
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 7. Badrinath, Raghuvir (16 September
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. PTI. "Titan launches helmets under
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Hindu Business Line. Retrieved
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CoveIoT: Report" . MediaNama. 7
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watches and fitness wearables, says
MD Bhaskar Bhat" . cnbctv18.com.
Retrieved 3 July 2019.
32. "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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7 April 2018. Retrieved 5 December
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Indian eyewear market" .
www.retail4growth.com. Retrieved
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35. "Titan targets₹40,000 crore from
jewellery business by FY23" .
www.livemint.com. 22 July 2018.
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perfumes" . GQ India. 20 September
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Economic Times. 14 July 2016.
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39. "Titan appoints directors for new JV
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PTI. 7 December 2015. Retrieved
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Retrieved 9 March 2017.
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of Persons with Disabilities - 2014
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ranking.channelnewsasia.com.
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43. "Untitled Document" . www.dnb.co.in.
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Exhibition, Franchise & Retail Show" .
www.expo.franchiseindia.com.
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45. Award at the CII 24th Kaizen national
awards
4 . "Good Design Award 2014" by design
Council of Japan for Skeletal Edge
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watchmarketreview.com. Retrieved
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4 . "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.
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www.worldqualitycongress.org.
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51. Bureau, Our (10 April 2014). "Tanishq
makes the Interbrand APAC list" . The
Hindu Business Line. Retrieved
10 March 2017.
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Awards" . goldenglobetigers.org.
Retrieved 10 March 2017.
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10 March 2017.
54. "Out-Of-Home:NOW Conference 2014 |
THE ADVERTISING CLUB of NEW
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 55. "OAC 2014 kindles confabulation of
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External links
Titan Homepage
Titan Watches India

Retrieved from
"https://en.wikipedia.org/w/index.php?
title=Titan_Company&oldid=996031358"

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