TITAN INDUSTRIES LIMITED

Company Products Established Founder Distribution Production plant. Titan Industries is the organisation that brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. 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.

VISION AND MISSION VISION-To be a world class, innovative & progressive organization & to build INDIA¶s most desirable brand. MISSION- To create wealth for all our stakeholders by building highly successful business based on a customer centric approach & to contribute to the community. Background

Titan Industries was established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO). The company set up its corporate office in Bangalore (Karnataka) and its watch manufacturing facility in Hosur (Tamil Nadu). In two decades the company has built an impressive watch business to become India¶s largest manufacturer and the world's sixth largest manufacturer of watches. This has mainly been achieved by developing a formidable distribution network. The company has amongst the world's largest retail chain of exclusive retail showrooms for watches called µThe World of Titan¶ spread over 100 towns. It also has multi-brand outlets named µTime Zone¶, service centers and dealer outlets. Globally Titan has a presence in over thirty countries through its marketing subsidiaries. Titan has also entered the jewellery business in 1995. Jewellery is sold in India through an exclusive company controlled retail chain, comprising of owned and franchised outlets. It is also exported to Singapore and the Middle East. The company has watch assembly plants at Dehradun (Uttar Pradesh) and Baddi (Himachal Pradesh) and a plant manufacturing electronic circuit boards in Goa.

The majority stake in the company is held by the promoters. Roorkee and Baddi in Himachal Pradesh and an ECB plant in Goa. nonresident Indians. with TIDCO having 28 per cent of the shares and Tata Group companies owning 25 percent of the shares. The rest of the stake is held by foreign institutions. Dehradun. mutual funds and other institutions. Public holding in the company is around 28 per cent. Its main products are: . ORGANISATION STRUCTURE:  Corporate structure is as under:  Segment Division: The company manufactures over 8 million watches per annum and has a customer base of over 80 million. It has manufacturing and assembly operations at Hosur.

and Rs 1200/-. Zoop. . Platinum jewellery is also a part of the product range Tanishq is one of India's largest speciality retailers and is transforming the jewellery market in India 102 boutiques in 72 cities across the country. The Titan brand architecture comprises several sub-brands. The company has a world-class design studio for watches and accessories. Regalia. The jewellery division has its own design studio. Lenses. WWF and the Aviator series. Titan for the premium segment.500 cities and internationally in over 30 countries. Titan Raga ± the feminine and sensuous accessory for today's woman. The company has 255 exclusive showrooms christened 'World of Titan'. Fastrack ± focused on the youth and trendy fashion space. making it amongst the largest chains in its category. Today. Sonata for the mass market and Xylys for the premium market. Its after-sales-service is itself a benchmarked operation with a network of 750 service centres and amongst the world's fastest turnaround times. y Jewellery : Tanishq is India's largest and fastest growing jewellery brand with a premium range of gold jewellery studded with diamonds or coloured gems and a wide range in 22kt pure gold. µGold Plus' is the recent retail offering for the mass market with plain gold jewellery selling through 19 stores in 19 towns.y Watches : Currently manufactures four main watch brands viz. Titan watches are sold through over 12. Orion. Nebula crafted in solid gold and precious stones and several other collections like Wall Street. Heritage. It also markets Tommy Hilfiger watches under a licensing arrangement and is introducing Hugo Boss. the Titan portfolio has about 65% of the domestic market share in the organized watchmarket. all of which form a part of the Titan wardrobe. The company's first Swiss Made watch ± Xylys is for the hi-end connoisseur and new age achiever. y Eye wear : Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and has sunglasses under Fastrack brand and prescription eyewear consisting of Frames. Notable among them are: Titan Edge ± The world's slimmest watch which stands for the philosophy of "less is more".000 outlets in over 2. Octane. each of which is a leader in its segment. Sonata is today India's largest watch selling brand and is priced between Rs 295/. primarily in the Middle-East and Asia Pacific. Diva.

Accessories and Contact Lenses of in-house brands and other premium brands. Company owned showrooms. 1. we also have various trainees. based on their role. In addition to some programs like engineering drawing. Soft skills programs likeµPersonal Touch¶ to address interpersonal and related issues were conducted. and waste elimination are also conducted.300 unionized employees were covered. 3. contract workers and apprentices who are hired on a job work basis or on a temporary contract. the watch and jewellery designers are classified in the µD¶ category within which. . Training programs are classified into the following categories: _ Skills _ Knowledge _ Behavioral 2. there are levels from D1-D5 comparable to µL¶ Level.Our employees are classified into different levels. regional offices. retailing. are the junior to middle management employees who are classified from L1 to L9. It also manufactures dashboard clocks as OEM to car manufacturers in Europe and America. Workmen Capability Building: Training and development for our unionized employees at the manufacturing units is focused on skill development.Sunglasses. In addition. µR¶ are those employees who work in Company managed retail outlets of both the watch and jewellery division and are classified from R1 to R3 and (iii) Senior Management Level. The division also provides fully integrated Automation solutions. Training Training is an ongoing process aimed at capability building of the employees at all levels.  Human Resources Departments include our corporate office. marketing. which constitutes the workmen at the factories (ii) µL¶Level. namely (i) µE¶ level. Training for Middle/Senior Management: Training for this category is focused on knowledge and behavioral skills in the areas of management.  Precision Engineerin:The company's Precision Engineering Division supplies precision components to the avionics and the automotive industry. in which over 1. In addition. factories and other units.

performance bonus is paid based on the individual. 1965 and an amount equivalent to 13.For employees who form part of the senior management team.branding. (iii) Good Performer and (iv) Performer.departmental and Company performance. which was valid till January 31. which is registered at Hosur.33% under the Payment of Bonus Act. etc. Further. Tata Code of Conduct All our employees are bound by the Tata Code of Conduct under which they are required to deal on behalf of the Company with professionalism. This Union is not registered or affiliated with any political party or other organisation. (ii) High Performer. For employees in the L6-L9 and D3-D5 levels. conferences and summits. 2006. 4. . precision engineering and jewellery factories are situated. Trade Union We have one registered trade union being the Titan Employees Union (³Union´). Training programs are conducted in two ways: _ In-house using internal faculty _ Customized programs using external faculty In addition employees are sent for seminars. Employee Retent Employee Retention/ Incentive Plans Our Company has an annual appraisal system in place and pursuant to this system. service weightage and personal pay earned by them. 2003 with the Union. The remaining 60% is paid based on their individual performance. annual variable pay and/or commission is paid to the employees. As per the terms of the agreement. their performance linked pay is based on performance and Company policies. Fixed Increase and Plant Performance Payment to each workman covered under this settlement. their annual variable pay/commission is disbursed in the ratio of 20% for Company performance and 20% for division/functional performance. where our watch.The same is decided by our Managing Director. creativity and innovation. The performance of the employees is classified into the following categories. 6. As regards employees in the µR¶ and L1-L5 and D1-D2 level. variable dearness allowance. Our Company has entered into a settlement dated April 18. pursuant to a settlement dated on October 14. fixed dearness allowance. integrity as well as high moral and ethical standards. performance linked pay. namely (i) Extremely High Performer.67% of total basic wages. 5. which are specific to their areas of business. We are currently in the process of initiating negotiations with the trade union for renewal of the agreement and until a new settlement agreement is entered into we shall continue to abide by the earlier agreement. 2005 the Company has agreed to pay a bonus at the rate of 8. team-building. the management of our Company has agreed to pay two modes of payment. honesty. Such conduct is to be fair and transparent and be perceived to be as such by third parties. All training and developmental programs are aligned to the business needs/demands.

an industry first in checking the purity of gold through a non-destructive test.MANAGEMENT STYLE  Innovation:Titan Industries began its operations with an innovative offering . Titan has been positioned as a premium brand. They have redefined the retailing standards in India since the time when the concept of modern retailing had not evolved. Titan Edge. Our contemporary store designs are a great example of innovation. packaging and . With its numerous sub-brands catering to different segments. these strategies can also be analyzed as given below:  Attribute Positioning: When the company launched its products. sportspersons. We use cutting-edge business excellence tools such as Tata Business Excellence model based on the Malcolm Baldrige Criteria for Excellence.  Strategies: Various products for specific price points and target audience y BRAND POSITIONING STATEGIES Since its introduction.quartz watches . the challenge that Titan faces is to create a strong brand image. To facilitate innovation. The Raga and Silver Raga collection is elegant. it was the first to bring quartz watches to the Indian market. Quadra and Interbrand. The company successfully leveraged this to penetrate the market and gain a market share.that changed the face of the Indian watch industry. sturdy and reliable. providing high quality products.  User Positioning: Titan caters to several user groups like. delicate and feminine with each piece being truly unique.Raga has been differentiated and positioned as exclusive watches for women. world's slimmest watch. total quality management. The Fastrack range is seen as being contemporary. adventurers etc. The advertising. we opt for external expertise from leading consultants like McKinsey. Innovative ideas at Titan Industries have led to significant achievements such as Single Point Solutions to every Original Equipment Manufacturer customer. is probably the best example of the spirit of innovation in the organization ± a feat achieved in less than five years of our existence. It follows different positioning strategies. 360-degree feedback process and benchmarking. Jewellery Division changed the dynamics of gold market by introducing the Karameter.

Cartier etc. Tissot. . titan came up with this segment when it was facing heavy competition from lower end segment y Strategy for the Time Products Division: To promote ownership of multiple watches and frequent replacement of watches amongst existing owners with our µTitan¶ brand of watches. Sonata is a perfect example of Price positioning. Our internal research shows that 95% of the watch owners own a single watch. vibrant and µcool¶ (the ad line says ³Cool watches by Titan´)  Competitor Positioning: With the entry of several foreign watchmakers into the market. Our expansion plans include upgradation of the precision engineering division through technology improvements to enable us to move up the value chain from component manufacturing to sub-assemblies. Titan had to counter the threat.money¶: reasonably priced (less than Swiss watches and higher than Japanese). and defence. In Indian market.We believe that improving our manufacturing facilities and capability building would enable us to serve sectors like automobile. aerospace. y Strategy for the International Business Division: . However. The watch market is currently under penetrated by organized players and faces severe competition from the unorganized sector.merchandising of this range is young.for. y Strategy for Precision Engineering SBU: We entered the precision engineering business in order to utilise our manufacturing facilities. especially in Europe where it is competing with Swiss and Japanese watches. it has tried to reposition this brand by increasing the price range to encourage more customers. it is positioning itself as µvalue. We focus on innovation to consistently come up with new styles and technology introductions to create demand for multiple watch ownership. attractively styled and of good quality. Titan already had the Tanishq brand in this segment. We aim at creating demand for multiple ownership of watches. We also propose to expand our reach across the country by developing retail outlets.Omega. Most of the entrants are catering to the upper end of the market.  Quality or Price Positioning: In the overseas market. Increased penetration for the mid market segment will be achieved by expanding our presence in several upcoming malls and department stores.

Such conduct shall be fair and transparent and be perceived to be so by third parties. and shall endeavour to offset the effect of climate change in all spheres of its activities. and shall not offer or give any company funds or property as donations to any political party. Equal-opportunities Employer A Tata company shall provide equal opportunities to all its employees and all qualified applicants for employment without regard to their race. The company¶s conduct shall preclude any activity that could be interpreted as mutual dependence / favour with any political body or person. caste. shall exhibit culturally appropriate deportment in the countries they operate in. Every employee of a Tata company shall preserve the human rights of every individual and the community. The strategy of this division is to systematically and continuously explore and analyze opportunities in international markets. Team members shall also be encouraged by the employee to comply. It shall prevent the wasteful use of natural resources 8 Tata Code of Conduct 2008 and be committed to improving the environment. in the process of production and sale of its products and services. including termination of employment. A Tata company. It shall comply with all health. and deal on behalf of the company with professionalism. Organizational Culture Political Non-alignment A Tata company shall be committed to and support the constitution and governance systems of the country in which it operates. safety and environmental regulations in the jurisdiction in which it operates.However. we used our Associate Companies located overseas to promote our businesses in the international markets. and shall strive to honour commitments.Previously. marital . particularly with regard to the emission of greenhouse gases. Every employee shall be responsible for the implementation of and compliance with the Code in his / her environment. A Tata company shall not support any specific political party or candidate for political office. including full-time directors and the chief executive. honesty and integrity. We hope to leverage our capabilities and brand image to enter these new markets and also expand within our existing markets with both new and existing product ranges. safety and environment A Tata company shall strive to provide a safe. Health. A Tata company shall be committed to best practices in the health and safety of employees. candidate or campaign. shall strive for economic. in 2004. given the opportunities that we anticipate in the global market for both watches and jewellery. Ethical Conduct Every employee of a Tata company. religion. Failure to adhere to the Code could attract severe consequences. healthy. social and environmental sustainability.were organised our international operations under the International Business Division. clean and ergonomic working environment for its people. ancestry. colour. New markets and countries will be identified based on predetermined tested criteria. while conforming to high moral and ethical standards.

Employee policies and practices shall be administered in a manner consistent with applicable laws and other provisions of this Code. BUSINESS OPPORTUNITIES WITH TITAN At Titan they constantly provide opportunities for enterprising business people to collaborate with us. including a reduction in capital employed in the jewellery division. nationality. Employees of a Tata company shall be treated with dignity and in accordance with the Tata policy of maintaining a work environment free of all forms of harassment. The company¶s continued efforts have resulted in a significant reduction in the capital employed. despite the rapid top line growth. and that in all matters equal opportunity is provided to those eligible and decisions are based on merit. respect for the right to privacy and the right to be heard. verbal or psychological. Reducing funds were employed in working capital of the domestic business through new initiatives like supply chain management to bring down inventories and costs. you're in the right place. despite a considerable growth in the turnover. Gold plus. The savings from these initiatives are beginning to kick in and it is expected that operating margins will continue to show a healthy growth. We're in the licensing business too! Come. sexual orientation.6 Tata Code of Conduct 2008 status. as well as compliance with all local labour laws. Fastrack and Titan Eye+ stores. Its exclusive retail showroom chain ± World of Titan ± is amongst the largest in its category. Greece and countries in the Middle East and Asia Pacific. ethnic origin or disability. Spain. It¶s after sales service is itself a benchmarked operation with a network of over 616 service centers and has one of the world¶s fastest turnaround times. Human resource policies shall promote diversity and equality in the workplace. or a vendor for raw materials. Titan watches are sold through over 9. while encouraging the adoption of international best practices. Tanishq. Or if we want to be a local or international distributor for our world class products. The return on capital employed has seen a significant increase driven mainly by the enhancement in operational efficiency. gender.000 outlets in over 2. If you one is interested in being a franchisee of the World of Titan. Financial Analysis Today. share in our success! DISTRIBUTION Distribution in India . do get in touch right away. The company has a world-class design centre both for watches and jewellery. Titan has over 60 per cent of the domestic market share in the organized watch market. age. whether physical.300 cities and internationally in over 30 countries including the UK.

The distribution channel handles well over 50% of the watch business of the company. who is responsible for indenting. The distributor channel operates independent of all other channels and reaches out to its own set of distinct dealers.A key business partner of Titan in the marketplace. who. Titan's growth rate in the marketplace requires us to appoint new distributors every year. The combined stockholding and credit to the market is controlled to stay within stipulated limits. . Robust leadership-development systems that accelerate the growth of current and future leaders. mainly in Asia and Europe. We distribute through an exclusive distributor in each country. servicing. materials and processes. VENDOR DEVELOPMENT Titan Industries is fully committed to develop a sustained long lasting and fulfilling relationship with all its vendors. Performing vendors have seen their businesses with us grow substantially over the years. on a consistent basis adhere to the business principles and dynamic demand of the customer requirements. Titan industries achieves this through up gradation of vendors capability and driving cost efficiencies resulting in mutual benefit Our vendors are spread over 30 countries. distributing. is the redistribution stockist. We endeavor to continuously improve our vendor management systems and seek to build stronger relationships in which we share our plans and goals with key vendors and work together on new developments in products. and the innovative reward mechanisms at Titan Industries are some of the best customs in the corporate universe. Individual Tata companies prepare and implement their recruitment strategies in alignment with their business goals and within the overall vision and practices of the group as a whole Titan Industries offers critical and challenging roles in a wide range of areas and responsibilities. The talent management at Titan Industries aims at creating a large pool of potential leaders. WORKING WITH TITAN LTD Tata careerscape The staffing requirements of the Tata group span an extraordinary range of disciplines. The main focus of this channel is market penetration and coverage. from the pure sciences to applied engineering and the entire spectrum of business management skills. Currently we have 65 distributors handling well over 6000 dealers across the country. the performance culture that is calibrated through rigorous processes. assisting and providing marketing support for the brand.

etc). Inter-company mobility helps the Tata group develop and nurture industry and sector experts.Managers with a high potential often feel the need to move to new areas of work ± this recharges their faculties. and promoting self-improvement. act as a cradle of change and develop leadership qualities. managers are exposed to different industries and functions. Tata Business Leadership Award: Initiated in 2004.with scores for satisfaction. Inter-company mobility is an integral aspect of leadership development in the Tata group. the late chairman of the Tata group. generating synergy. and competitive spirit at the company. enabling them to become knowledgeable about various business scenarios (start up. TMTC: The Tata Management Training Centre. Leadership and learning Tata's leadership development programmes and training processes aim at grooming the managers of today into the leaders of tomorrow TAS: This managerial development programme was conceived by JRD Tata. an institutional study. loyalty and advocacy far higher than the average scores of Gallup India . Titan Industries recognizes the strength and contribution of people in the company¶s success and growth. experiment and grow. With a strong philosophy of µpeople first¶. its goal is to provide training to high performers. Through crosscompany movements. innovate. in the Economic Times. Titan Industries has been rated highly by the Gallup engagement survey . this an annual business school event . The company encourages internal mobility as a means of building expertise. The work-culture at Titan Industries encourages the employees to learn. strengthens their own abilities and realizes their aspirations. in addition to providing satisfaction and choice to every individual. helps group professionals add to their knowledge bank. Internal mobility reinforces the professionalism.1 in Retail category and 24th overall by Great Places to Work (2009). diversity. while also creating functional experts (by rotating them through different companies in the same function). provide them opportunities for professional growth. Primarily an in-house learning centre for the group. consolidation. The Company has also been rated No. and make them part of a talent pool that could be tapped by companies across the Tata organisation. set in a lush campus in Pune in western India. acquisition. in the 1950s. The idea was to select and groom young managers.

Equity Distribution 3.organised by the Tata group. 401K Savings Plan 2. Titan provides careers in the fields of: y y y y y y Sales Marketing Accounting & Finance IT Customer Support Human Resource Benefits Titan employees receive equal opportunities for career growth and advancement. Other Benefits . Training 4. Employee Referral Bonus 5. It offers students from select management institutions a unique opportunity to compete with the brightest and display their business acumen. These benefits include: y y y y y y y 1. Business Travel Reimbursement 7. Insurance Coverage o o o o o o Medical Care Coverage Dental Care Coverage Long Term Disability Insurance Short Term Disability Insurance Group/Term Life Insurance Accidental Death and Dismemberment Insurance y 8. The company also provides various benefits to its employees that help them achieve their individual goals as well as the organizational goals. Company-Supplied Laptop Computer 6.

o o o o Vacation Holiday Pay Personal Days Sick Days Vision: .

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