Titan business is getting back on track, especially jewellery unit which sees 98% recovery in the quarter 2 of financial year 2021.
“The recovery in business, particularly in the jewellery business is encouraging and we expect to get back to normalcy by the fourth quarter of this year,”CK Venkataraman, managing director of Titan Company,
Titan, the company deals with watches, jewellery, eyeglasses, and fragrances. All the products have seen a growth in their sales apart from raw gold. The recovery rate to watches and wearables is around 55%, for fragrances is 50% and for eyeglasses is 58%, for the financial year in quarter 2. The sale of the gold coin has been high with a view of customers to increase assets. The company reported a loss of Rs 297 crore in the lockdown period but now it is 6% away from the situation it was in February 2020.
Details about the company, Titan.
The company owned by TATA TIDCO , started on 26 July 1984 with its name as Titan Watches Limited in Chennai. It’s headquarter is in Bangalore, Karnataka. It started with a view to manufacture watches and in the year 1993 company started manufacturing other products and renamed as Titan Industries ltd. The founder of the company is Xerxes Desai. Its the largest consumer company of the Tata group.
Products company deals with:
Titan is an Indian company producing consumer goods in the fashion accessories. Company manufactures Watches, Eyewear, Perfumes and Jewellery.
The watch department of the company have the brands Octane, Fastrack, Xylys, Sonata, and Raga. The company started its licensed marketing and distribution of Tommy Hilfiger and Hugo Boss in the year 2011.
The company invested 330 crores in the market and launched its sunglasses in the year 2007. With the name Titan eye plus this department has wide range of frames, contact lenses, sunglasses and eyewear.
Tanishq is the Titan venture started by its the founder in the year 1995. It has two sub brands namely Zoya, a luxury segment and Mia, for daily wear jewelleries.
In the year 2013, Titan introduced its first fragrance brand, Skinn with six different variants of perfumes.