Bangalore, 16th December
After changing its corporate identity from Titan Industries Limited to Titan Company Limited earlier this year, Titan Company today achieved a rare milestone in the history of Indian specialty retail by opening its 1000th store. With this, Titan Company arguably becomes the first Indian company with 1000 stores in seven varied formats under watches, jewellery and eyewear categories. Reflecting the future of modern retail and lifestyle industry, the 1000th store, a unique fusion of Watches and Eyewear was opened in Bangalore today.
With a retail footprint across 177 cities, 26 states, 3 Union Territories and a total retail area of 1395712, Titan Company has stores for Watches under World of Titan, Helios and Fastrack; Jewellery under retail brands Tanishq, Zoya, GoldPlus and Eye Plus for multibrand eyewear.
Speaking at the occasion, Mr. Bhaskar Bhat, Managing Director, Titan Company, said, “It has been a fascinating retail journey for Titan since 1988 when we opened our first World of Titan watch store at Safina Plaza in Bangalore. It was a bold step we took at a time when the consumer products and retail market was highly unorganized and underserved. While our manufacturing expertise produced world-class products we envisioned for our consumers an elevating experience when they bought our products. This is where we saw an opportunity to start retailing through our own stores and it worked very well for the company. With consumers and their buying habits at the core of Titan’s strategy, the name of the game has been delivery of a differentiated experience. And that is what Titan’s retail thrust is expected to do — make shopping of our brands enjoyable.”
He further added, “In a retail journey spanning a quarter of a century, Titan has in many ways changed the retail fabric of the country. For us, retail is beyond stores. Retail has become the face of the company to its consumers who are spread across length and breadth of the country. For us, retail is a commitment to deliver exceptional service and experience through human and technological intervention. While our staff form the core of our retail business through their impeccable service and values, it is through technology that we have changed the rules of the game in the past by introducing innovations like the laser engraving service at our watches store, Karatmeter at our jewellery stores and VMD (Visual Map Developer) at some of our eyewear stores. I am happy to dedicate this to 150 million customers who have embraced our products.”
About Titan Company Limited:
Titan Company Limited (earlier known as Titan Industries Limited), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) commenced operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into Jewellery and more recently into Eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with SKINN. In the later part of the year, it ventured into the helmets category under its Fastrack brand.
Today, Titan Company is India’s leading producer and retailer of watches, jewellery and eyewear and is credited with changing the face of the industry. Titan Company Limited had an extremely good 2012-13 and came up with an outstanding performance in a challenging economic environment. Sales income for the year 2012-13 was Rs. 10,009.05 crores, registering a growth of 14.5% over last year. Titan pursued aggressive growth during 2012-13 in all its businesses. The Company invested in many strategic initiatives taking into account long term and sustainable growth. All these backed by the talent and commitment of employees and business associates have helped Titan Industries register this encouraging growth.
For more information, contact –
Ajit Pai
Rediffusion/Edelman II ajit.pai@edelman.com II +91 96633 94732
Megan Fernandes
Rediffusion/Edelman II megan.fernandes@edelman.com II +91 9986638498
