Titan has maintained a solid presence in the watch industry throughout the years by introducing finely constructed collections designed for discriminating clients.
Titan’s story began in the Watch Products section. Today, This Corporation is one of the world’s largest retail networks, and the company is the fifth largest integrated watchmaker in the world. The division continues to add world-class brands to the company’s portfolio, with over 4000 workers divided throughout three business units in Bangalore, India, a manufacturing facility in Hosur, and three assembly factories in northern India.
Table of Contents
What is Titan?
Titan Company Limited (Titan) commenced operations in 1984 as Titan Watches Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO). It is the world’s sixth biggest integrated own brand watchmaker. It has grown into underserved regions and built lifestyle brands across many product categories during the last three decades. This is well-known for revolutionizing the Indian watch and jewelry sector as well as altering the Indian retail market by pioneering experiential retail.
History of Titan
Over the course of over 25 years, the Titan Watch Project evolved into Titan Watches, Titan Industries, and finally Titan Company Limited. With annual output exceeding 15 million, each year witnessed new technologies and advances. These watches sold approximately 150 million pieces in 32 countries after entering the European market in 1993, followed by the Middle East and the Asia Pacific. Topping the charts in the organized watch market share with a claim of 50%, audaciously challenging the Swiss It became the world’s biggest integrated own brand watch producer.
The primary production factory is located in Hosur, Tamil Nadu, with assembly plants in Dehradun, Pantnagar, and Roorkee, as well as an electronic sub-assembly plant in Goa, India.
Timex was the consequence of a brief joint venture between 1992 and 1998, finishing second in popularity only to Titan. Titan recovered the stake following the breakup of this cooperation with the debut of Sonata. This was followed by an insightful array of wristwear, including Titan, Fastrack, and Xylys brands, luxury watches, and designer timescapes, as well as a variety of outdoor clocks that marked magnificent landmarks in various cities.
The Swiss and Japanese manufacturers were shocked by the state-of-the-art production unit, strong and constant market share, and highly skilled and motivated employees. The township, designed by world-renowned architect Charles Correa, emphasized the Tata spirit even more.
In Mathigiri, Tamilnadu, an exceptional school that also serves as a learning center for adjacent district schools was established to accommodate around 2000 Titanians.
Future plans for Titan
Titan introduced Mia, a gorgeous collection of excellent, urban chic, affordable jewelry designed for working women, in 2011. Mia’s items are all made of 14K gold and come in over 500 different styles.
Titan entered the perfume business in 2013 with the introduction of SKINN, changing the Indian fragrance sector by ensuring the finest quality and bearing Titan’s brand.
Tanishq acquired Carat Lane in 2016 with the goal of providing stunning jewelry and a unique shopping experience that reflects today’s values and lifestyles.
Titan resurrected the renowned watch brand that was a household name in India in the 1960s and 1970s in 2016, exactly five years after it purchased the Swiss watch brand Favre-Leuba in 2011.
What is the company’s product lineup?
Titan Engineering & Automation Limited (TEAL), originally known as TITAN-Precision Engineering Division (PED), is Titan Company Limited’s fully owned subsidiary.
TEAL began as an in-house engineering team focused on high-precision component production and design, as well as the fabrication of automation equipment. The group currently has a full-fledged machine building, automation, and component manufacturing company that caters to global markets.
Fundamental Analysis of Titan
Titan entered the glittering side in addition to winning the watch business. Tanishq, which expanded into jewelry in 1993, was introduced in 1996, and Gold plus, which standardized mass marketing of jewelry, was established a decade later. This diversification was followed by more initiatives. Fastrack – a lively and young watch and accessory brand, and accessories line in 2003; Precision Engineering in 2005; and the Eyeglasses Division in 2007 – a project of prescription eyewear, replete with specialized stores catering to clients’ every need.
Tanishq and Gold plus Titan Company strike the correct note with their offering of traditional and designer jewelry, focusing solely on the domestic market that considers gold a top investment.
What is the company’s competitive environment?
Titan Company Limited has been named one of Bangalore’s top ten Innovative Company brands by Paul Writer, a member of the country’s largest marketing community.
Sumant Sood, Head-Innovation, accepted the prize on behalf of the company. Over 100 Marketers from Bangalore-based organizations ranging from FMCG, startups, Real Estate, Ecommerce, and various industries attended the gala evening of ‘Brand Bangalore Summit & Hot Brands 2018.’
Current status and growth of Titan
Titan Company Limited believes in innovation. This Company began operations with a unique offering – quartz watches – that transformed the Indian watch industry. The company’s innovative concepts have resulted in important accomplishments such as Single Point Solutions for every Original Equipment Manufacturer customer. Titan Edge, the world’s slimmest watch, is undoubtedly the finest representation of the organization’s innovative spirit – a feat accomplished in less than five years. The “Innovation School of Management” (IScM) was established to address the goal of developing employees’ ability to innovate and making it a culture.
At IScM, students are educated on a variety of tools and approaches to help them build innovative thinking skills, and department heads are trained as Mentors to help them implement the innovation results. Students can use tools and approaches to thinking beyond the box and beyond the apparent. IScM alumni apply their knowledge to tackle difficulties at work and in their personal life.
Conclusion
Going back to before the 1980s, Titan Watches was conceptualized at Tata Press. These Watches was formed in June 1984 as a joint venture between Tata Industries and the Tamilnadu Industrial Development Corporation (TIDCO) to turn this notion of entering the watch industry into a successful reality. Titan’s time never stopped ticking after that.