Can Titan live up to its name and conquer the whole world of consumer goods? It’s looking more and more like it’ll do just that.
Titan Industries Limited is a consumer goods company that’s based out of India. It’s owned by the Tamil Nadu Industrial Development Corporation in conjunction with the Tata Group. Titan has annual revenues north of two billion dollars and almost seven thousand employees.
Today, Titan produces eyewear, watches, handbags, perfumes, wallets, belts, jewellry, and precision engineering items. Its subsidiaries include the Titan Watch Company, Favre-Leuba, CaratLane, and Titan Engineering and Automation Limited. It’s publicly traded on the Bombay Stock Exchange and the National Stock Exchange of India.
This company started out as a watch manufacturer in 1984 called Titan Watches, located initially in Chennai. Xerxes Desai brought this first quartz watch to India. His leadership proved to be essential for the company over the next nearly thirty years before his death in 2016. He was a passionate advocate and consummate business titan himself.
Making quartz analog electric watches, the company had a limited initial capacity but rapidly grew. Just two years after it was founded, Titan signed a contract with Casio to manufacture two million analog-digital and fully digital watches. In 1989, the company had to increase its capacity again due to demand, opening a factory in Uttar Pradesh with a capacity of half a million watches per year.
Flash forward to 2011 and Titan bought Swiss watchmaker Favre Leuba so that it could enter into the European market.
Though Titan is one of the largest brands in India, it’s not totally forgotten its responsibility as a part of the community. In 2018, the company partnered with skater/entrepreneur Rana Uppalapati’s initiative known as Titan ECHO (Educate to Carry Her Onwards).
This socially responsible initiative raised money to fund the education of twenty-five thousand girls in India.
The company expanded into jewelry ten years after it opened its doors with Tanishq. It quickly moved into eyewear with Titan Eyeplus.
It took another nineteen years for the company to push into a new area with its own fragrance brand, Skinn, which launched in 2013. That same year, Titan began marketing helmets under its Fastrack brand. It’s also stepped into the world of smartwatches under the Sonata and Fastrack names.
In 2015, Titan entered into a partnership with Montblanc services to sell the Swixx luxury brand in India through its retail locations. Through this partnering venture, Montblanc services holds fifty-one percent while Titan has forty-nine percent.
Titan additionally has a sixty-two percent stake in Carat Lane Trading Private Limited, a buy-in that cost the company sixty-two million dollars in 2007. Titan as another subsidiary, Titan Watch Company Limited Hong Kong, that is a fully owned subsidiary of the company.
The future for Titan is undoubtedly tied to smart tech, as the company is making massive inroads into the areas of smart watches and hi-tech gear. Pushing towards more of a market outside of its domestic dominance in India is another major challenge for Titan. It’s important for the future of the brand that it continues to evolve and expand.