Did you know jewellery market leader Titan also sells perfume and sarees? Here’s the lowdown

Founded in 1984, the Bangaluru-headquartered Tata Group firm has, over the years, expanded into segments that augment well with its core portfolio of Titan and Fastrack watches and branded jewellery.

When CK Venkataraman picked up the baton from his erstwhile boss Bhaskar Bhat as the Managing Director of the Titan Enterprise in October 2019, marketplace watchers lauded the shift by its administration. Venkataraman is a enterprise veteran like Bhat and his working experience as the chief executive officer of Titan’s jewellery organization would arrive in helpful, they mentioned.

That, nevertheless, was not the only worry he had. The undisputed leader of the branded jewelry current market will get the the greater part of its revenue from its jewellery small business but that is just 1 part of the tale. Titan, also regarded for its market place-major streak as the favorite preference of Indians for wristwatches, has a a lot wider portfolio than most of its patrons are informed of.

Established in 1984, the Bangaluru-headquartered Tata Team agency has, about the decades, expanded into segments that increase perfectly with its main portfolio of Titan and Fastrack watches and branded jewelry.

From handcrafted sarees to perfumes – Venkataraman adopted a corporation that was much a lot more diversified than his prolonged-standing manager Bhat, who had reworked the company’s business around his 17-year stint as its MD. According to Venkataraman, in contrast to previously when Titan was mostly recognised for its jewelry and watches, the mandate now is to heavily targeted on increasing its other companies.

Get its perfumes business enterprise, for occasion. Introduced in 2013, Titan’s perfumes company is put underneath a mother brand named Skinn. Created in-property by 6 award-profitable perfumers including Harry Fremont, Michel Girard and Fabrice Pellegrin, its perfumes are now pushed through its thousands of branded outlets.

Augmenting its organization additional, Titan ventured into the branded saree small business with its very first store in 2017 in Bangalore with its saree brand Taneira. And Venkataraman is equally fired up about the foreseeable future of these enterprises as he is about jewellery. “Our brand name Taneira is placed in a market that has a Rs 50,000-crore possibility, even though for Skinn [the opportunity] could be a great deal smaller. So, the perfumes business enterprise may stay substantially scaled-down than the saree business. But that doesn’t signify it is a lot less crucial for Titan. Because, though the earnings share may well be smaller sized for some classes because of to their mother nature, it could be that extra selection of customers are remaining touched by way of them than a much larger category like jewelry. So, the purpose is to become a marketplace leader in every of them and turn out to be a wholesome business that satisfies various varieties of customers,” he explained to Company Now in an exceptional conversation.

In accordance to him, making the more recent companies and/or brand names considerably more substantial is now central to Titan’s 5-12 months system. “We are also increasing into new classes like beneath the model Taneira. Whilst we will be new players in those categories, the prepare is to grow rapidly and unlock considerable price. In the international current market, non-resident Indians (NRIs) and PIOs (people of Indian origin) are a emphasis region,” he explained.

Though the jewellery business – spread across makes like Tanishq, CaratLand, Zoya and Mia – has been expanded to entice every single variety of buyer and their donning situations (formal put on for doing the job gals, jewelry for get-togethers or lavish weddings etc.), Venkataraman states, Titan is also growing into new groups like branded sarees. “Although we will be new gamers in these categories, the program is to improve quickly and unlock significant benefit. In the worldwide current market, non-resident Indians (NRIs) and PIOs (individuals of Indian origin) are a concentration region. See, the rate of a bottle of Skinn (fragrance) may perhaps be Rs 3,000, while 1 piece of jewelry could expense 50 times that. But I want our consumers to use both. There are prospects galore in the luxurious products and solutions current market,” he spelled out.