Titan Ltd banking on its premium watch brands for growth
Tata group-owned Titan Company Ltd is betting big on the premium watches segment for future growth of its watches and accessories division in the country.
Titan is continuously reinventing itself to remain relevant in the market and will continue to launch new products to cater to its large customer base across India.
Titan’s watches business had a strong fiscal 2017-18 reporting highest top-line growth at 10 percent, as well as a jump in margins and its highest ever profit due to the launch of new products and foray into the smartwatch segment.
Titan is expecting double-digit growth in sales of wristwatches and accessories for the financial year 2018-19 as it continues to focus on innovations and product launches. The company will also boost its e-commerce segment and expects its online sales to rise in the coming years.
The brand Titan is the largest watch brand in the country and has an immensely large customer footprint. The beauty of the brand is that it caters to all the consumer segments in India across price-points. Premium watches coupled with smart bands across the board for all the brands be it Titan, Sonata or Fastrack will drive growth,” Suparna Mitra, chief marketing officer at Titan watches & accessories, told Exchange4media.
“The contribution from e-commerce is around 10 percent. It is growing rapidly and we expect it to grow strongly in the next few years,” she added.
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