Editor’s Note
Titan, India’s premier watch and jewelry maker, has set an ambitious target for its watch division: to exceed $1 billion in sales within two years. This confidence stems from rising demand for premium timepieces and strategic retail expansion.
India’s leading watch and jewelry manufacturer, Titan, is moving forward with a major goal for its watch business. The company is confident that sales from its watch business will surpass the $1 billion mark within the next two years. The growing demand for premium watches and retail expansion are considered the biggest reasons for this growth.
Kuruvilla Marcos, Chief Executive Officer of Titan’s Watch Division, explained that the company’s watch business has recorded a steady growth of about 16 percent over the past four to five years. Now, the company is focusing more on the premium and luxury segments for future growth. He says that consumer awareness regarding brand, design, and quality has increased, which is directly benefiting the sales of premium watches.
In view of the growing demand for luxury watches in India, Titan is rapidly expanding its network of Helios and Helios Lux stores. These stores are specifically known for watches priced above one lakh rupees, which are categorized as luxury. According to Marcos, the premium and luxury segment has the potential for growth exceeding 30 percent, which will drive total sales to new heights in the coming years.
Titan does not want to be limited to the domestic market. The company is also working on expanding its international business to strengthen its global presence. Entering new markets and expanding the product portfolio in existing markets is expected to provide additional growth. Management believes that international sales will also help in achieving the $1 billion goal.
Titan sees India’s strong economic condition, rising personal income, and large young population as a major opportunity. According to the company, the craze for fashion and branded watches among youth is rapidly increasing. With this confidence, Titan is working on plans to further strengthen its products, stores, and brand value in the coming years. The company hopes that this strategy will help it set new records in the watch business.