Titan Company, a major watch manufacturer expanding its portfolio in the luxury and premium segments, has stated that it is open to considering acquisition or investment opportunities in smaller and newer brands as part of its growth strategy.
Ranjani Krishnaswamy, Chief Marketing Officer of Titan Company, reported that the company anticipates a 'stable' festive season this year. This forecast is based on high consumer demand and the early start of the wedding season, which coincides with the shift of the Diwali festival. She also acknowledged that the company is making efforts to meet the growing demand.
Krishnaswamy noted the high level of demand, stating: 'We are seeing very steady demand. We see a very healthy start to the festive season. We are very optimistic and, frankly, we find it difficult to ensure sufficient capacity to meet the demand.' When asked about potential acquisitions as part of the company's development, she clarified that Titan is evaluating options that could complement long-term growth goals and deepen the company's presence across various markets and segments.
Referencing the group's past acquisitions in the jewelry business, Krishnaswamy emphasized that the company would consider investing in or purchasing smaller watch companies. She added that this idea has been discussed internally at Titan, and she believes that 'when the time comes, and the partner is suitable, it will definitely be interesting for us.'
Krishnaswamy explained that any such move must be 'complementary' to Titan's overall growth trajectory, rather than merely opportunistic. She stressed that the company has always been open to both organic and inorganic growth, provided it helps build a more expansive path of development.
These statements come against a backdrop of a growing trend where small, India-focused micro-brands are creating products based on Indian cultural sensibilities and design, gaining popularity among millennials and high-income consumers. Krishnaswamy views the emergence of such players as a positive development for the category, not a threat to Titan's market leadership.
Titan recently launched Vetra, a proprietary movement platform, marking a significant step in the Indian watch manufacturing industry. The name Vetra is derived from combining the words 'Veda' (knowledge) and 'Tra' (instrument), and it is expected to strengthen the company's position in the global high-end watch industry segment. The company aims to become the 'third force in the world of watches,' alongside Swiss and Japanese manufacturers.
Speaking about trends in the watch industry, Krishnaswamy pointed to 'steady growth' in the premium segment of the watch portfolio, which is growing almost twice as fast as the category priced under 25,000 rupees. However, she also indicated 'significant sluggishness' in the mass-market watch segment priced under 1,000 rupees, as watches are increasingly becoming a statement of personal style, while limited editions and higher-priced models enjoy high demand.
Furthermore, through its retail network Helios in India, Titan sells international brands such as Tommy Hilfiger, Kenneth Cole, Police, Cerruti, and Roamer, and has expressed readiness to attract more affordable Swiss brands, as free trade agreements can reduce import costs.
