The Company

A subsidiary of the Tata Group, Titan Industries was established in 1984 as a joint venture between the Tata group and the Tamil Nadu Industrial Development Corporation. The company brought about a paradigm shift in the Indian watch market, offering quartz technology with international styling, manufactured in its state-ofthe-art factory at Hosur, Tamil Nadu.

Continued
In 1995, the company diversified into jewellery under the brand Tanishq to capitalise on a fragmented jewellery market operating with no brands in urban cities. The company has now entered into eye wear, launching sunglasses and prescription eye wear under Eye Plus.

Management
Bhaskar Bhat: Managing Director. Harish Bhat: COO-Time Products Division. CK Venkataram: COO-Jewellery Division. S Ravikant: COO Eyewear Division. Kailasanathan N: COO Precision Engineering Division

Areas Of Business
Titan's portfolio includes - Watches - Jewellery - Eye Wear - Precision Engineering

Watches
The four main watch brands include Titan Fastrack, Sonata and Xylys. Today, the Titan portfolio has over 60 per cent of the domestic market share in the organised watch market and accounts for 21% of total revenues. 12,000 outlets in more than 2,500 cities in India and internationally in over 30 countries, primarily in the Middle-East and Asia Pacific.

Watches
USP -Wide Range with offerings for each market segment, excellent after Sales Service. Challenges -Increased competition by 60 other brands.Timex, the strongest rival, coming up with new brands.

Jewellery
Jewellery is marketed under brand nameTanishq Tanishq is India s largest, fastest growing jewellery brand. Accounts for 74% of the revenues. 26.8% growth on year to year basis in 2009-10.

Jewellery
USP -India's only national jewellery brand in terms of extensive presence and offerings for Rural, Urban and semiurban areas. Challenges-Global financial meltdown severely affected plans for expansion in US, increased competition from other firms such as Rajesh Exports.

Eye Wear & Precision Engineering

Sunglasskes and prescription eye wear are marketed under Eye+ brand. The company s Precision Engineering Division supplies precision components to the aviation and automotive industries. Accounts for 3.3% of the total revenues in 2009. Revenue rose by 11% in 2009-10. USP:Branded Spectacle frames priced at Rs500-Rs 30000 a piece Challenges:80% of eye wear market dominated by unorganised players.

Milestones
2009-10 revenues growth was 22.2 per cent to top $1 billion for the first time(Rs.4703 corores). As the economy recovers, Titan has set itself a new target: $2.5 billion in revenues by 2014. The optimism is based on hard facts: In the fourth quarter of fiscal 2009-10, Titan Industries reported a revenue growth of nearly 49 per cent year-on-year, while operating margins rose to 7.7 per cent overall. International Presence: Overseas market fetches it Rs 100 crore from its presence in 30 countries.

Latest Happenings
For the luxury watch segment, it is setting up a chain of multi-brand stores called Helios. No Holding Back: Aiming to spend over Rs 1,000 crore in the next five years on sales, marketing and branding. As per it latest strategy it is to focus on emerging markets having low brand and watch penetration, Titan is planning to expand in South Africa and its neighboring countries.