TITAN INDUSTRIES

COMPANY PROFILE
Titan Company brought about a paradigm shift in the Indian watch market
when it introduced its futuristic quartz technology, complemented by international
styling. Titan Company is the fifth largest integrated own brand watch manufacturer in
the world. In addition to 'Titan' the watch brand, Titan Company has also built
'Tanishq' the leading jewellery brand over the past few years. Both these brands are
among the most recognised and loved brands in India. The success story began in
1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial
Development Corporation. Presenting Titan quartz watches that sported an
international look, Titan Company transformed the Indian watch market.
After Sonata, a value brand of functionally styled watches at affordable prices,
Titan Company reached out to the youth segment with Fastrack, its third brand, trendy
and chic. The company has sold 150 million watches world over and manufactures
over 15 million watches every year. With a license for premium fashion watches of
global brands, Titan Company repeated its pioneering act and brought international
brands into the Indian market. Tommy Hilfiger, FCUK, Timberland & Police as well
as the Swiss made watch Xylys owe their presence in the Indian market to Titan
Company. Entering the largely fragmented Indian jewellery market with no known
brands in 1995, Titan Company launched Tanishq, India's most trusted and fastest
growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of
semi-urban and rural India. Completing the jewellery portfolio is Zoya, the latest retail
chain in the luxury segment. Titan Company has also made its foray into eyewear,
offering a variety of differentiated products to the end consumer consisting of frames,
lenses, contact lenses and accessories. Frames are available in both international

brands (Levis, Esprit, Hugo Boss etc.) and in-house brands Titan, Eye+ and Dash
which is an offering for children. The company has leveraged its manufacturing
competencies and branched into precision engineering components & sub-assemblies,
machine building & automation solutions, tooling solutions and electronic subassemblies. With over 1200 exclusive retail stores across a carpet area of over 1.6
million sq. ft. Titan Company has India's largest retail network spanning over 220
towns. The company has over 400 exclusive 'World of Titan' showrooms and over 150
Fastrack stores. It also has a large network of over 740 after-sales-service centres.
Titan Company is also the largest jewellery retailer in India with over 160 Tanishq
boutiques and 2 Zoya stores, over 30 Gold Plus stores. It also sports over 300 Titan
Eye+ stores. In addition the company retails personal accessories such as bags, belts,
wallets and most recently perfumes under Skinn Brand. Backed by over 7,000
employees, two exclusive design studios for watches and jewellery, 12 manufacturing
units, and innumerable admirers' world over, Titan Company continues to grow and
set new standards for innovation and quality. The organization is all geared to repeat
the Titan and Tanishq success story with each new offering.

PRODUCTS
Titan Company, best known as India's pioneering manufacturer of quartz
watches, has also etched a niche for itself in some of the most competitive spaces
in the fashion industry such as jewellery and eyewear. Precision engineering is
another area of specialization that Titan Company is proud of.
WATCHES
Being the world's fifth largest integrated own brand watch manufacturer,
Titan Company has created and sold more than a 150 million pieces the world
over.

With a production rate of over 15 million watches per annum and a customer
base of over 135 million globally, Titan Company owns manufacturing and
assembly operation centres in Hosur in Tamil Nadu , Dehradun, Roorkee,
Pantnagar in Uttaranchal and an Electronic Circuit Boards (ECB) plant in Goa, all
in India.
Capturing the important market segments and the changing fashion trends,
Titan Company has brought forth four core watch brands:
Titan which is designed for the mid-premium segment
Fastrack which is crafted to fit the trendy fashion space with a focus

on

the youth
Sonata which is created for the mass market and has emerged as Indias
largest selling watch brand
Xylys which is fashioned for the premium market, aiming at the
connoisseur and new-age achiever
The Titan brand architecture comprises several sub-brands, each of which is
a market leader in its own space. Notable among them are: Titan Edge, Titan Raga,
Nebula and several other collections like Zoop, Orion, Purple, Obaku, Automatic,
Tycoon, Bandhan, Octane and the HTSE series. The Titan brand portfolio owns
over 60% of the domestic market share in the organized watch market.
Titan Company's pride possession, a world-class design studio for watches
and accessories, is the place where some of the most coveted creations have been
conceptualized.
Exclusive World of Titan and Fastrack showrooms and over 11,000
multibrand outlets in more than 2,500 towns in India make these much-soughtafter watches available to the buyers. The watches are also offered internationally
in over 30 countries, with a special focus on the Middle East and Asia Pacific
regions.

Helios, India's multibrand watch retailer offers an unmatched range of the

latest designs across 30 international brands in addition to Titan brands. The aftersales service, a benchmarked operation with a large network of exclusive service
centres spread across the country, is one of the operation units with one of the
fastest

turnaround

time

in

the

world.

JEWELLERY
Following the suit of time products, Tanishq has been Indias largest, fastest
growing and most popular jewellery brand.
Tanishq offers a premium range of gold jewellery studded with diamonds
and precious, semi-precious stones in various hues in 18 kt and a wide range of
plain gold jewellery in 22 kt pure gold. Platinum jewellery also forms part of the
product range. Gold Plus retails plain gold jewellery offerings with designs
specifically created for the semi urban and rural Indian market and offers unique
designs crafted with diamonds, American diamonds and other precious stones.
Zoya offers premium studded jewellery catering to the needs of the elite. The
enchanting jewellery patterns originate in the well-equipped exclusive jewellery
design

studio

of

Titan

Company.

EYE WEAR
Titan Eye+ offers a variety of differentiated products to the end consumer
consisting of frames, lenses, contact lenses and accessories. Frames are available in
both international brands (Levis, Esprit, Hugo Boss etc.) and in-house brands
Titan, Eye+ and Dash. Customers are offered a unique browse-select-buy format
where all products are accessible, using world class equipment for zero-error eye
testing by qualified optometrists trained at Sankara Netralaya, a renowned eye

hospital in South India and style consultants to help buyers make the right choice
of

frames

and

lenses.

PRECISION ENGINEERING
The divisions products span precision engineering components & subassemblies, machine building & automation solutions, tooling solutions and
electronic sub-assemblies. The division is ISO 9001:2000 and ISO 14001:2004
certified. Additionally, the unit catering to the aerospace segment is AS 9100B
certified and the unit catering to automotive segment is TS 16949 certified. The
unit has recently been selected for the National Aerospace and Defence
Contractors Accreditation Programme for its non destructive testing capabilities.

MARKET SEGMENT
Leading watch and eyecare company Titan today said it commands a market share of
60-65 per cent in the wrist watches segment.
"Titan commands a market share of 60-65 per cent in wrist watch segment,"
company's Associate Vice President and Business Head (West) K S Ghai told PTI.
He was speaking after the opening of their first integrated store in Bhopal, Madhya
Pradesh offering both watches and eyecare products under one roof.
Despite competition, the wrist watch market is growing annually by nearly nine per
cent, he said.The new integrated store has two sections 'World of Titan' and 'Titan Eye Plus'
and houses national and international watch brands and eyewear frames and sunglasses.
On the occasion, the company also launched its latest 'Autumn Winter Collection' of
timepieces.

The store also has a wide range of high tech lenses for all consumer segments across
single vision, bifocal and progressive requirements.It also offers free zero error eye-testing,
to be conducted by optometrists trained by renowned Sankara Netralaya.

CUSTOMER SATISFACTION
Under the Titan Company, all the brands operate with a single point agenda
of complete customer satisfaction.
As a lifestyle company with many brands to satisfy and cater to different
categories ofcustomers, customer relationship is paramount to the success of the
Titan Company.To provide continued patronage to customers with products and
services that excel in every area, including quality, price and service trustworthy
business partners are very essential.
Customers are classified into two levels:
The Franchisee
The End Consumer
Primary Customers - Franchisees
Co-creating with Our Business Partners About 80% of all the stores across
the Watches and Accessories, Jewellery, and Eyewear divisions are run by
franchisees. It is crucial to partner with the right people who share a similar value
system and can provide fruitful partnerships, as new benchmarks are set in the
sectors that Titan Company operates in.
Choosing the Right Partner: Selection Process
There is a robust franchisee selection process where franchisees are evaluatedand selected, profiled at various levels and on several parameters
including financial capability and experience in businesses with a comparable

background like retail or services sector. Each Franchisee is expected to abide by

the TCoC guidelines, a copy of which is given and reinforced through all
contractual agreements and documents.
Training the Customer Facing Employees:
Both Titan Company and Franchisee-employed receive identical soft skills
development training, apart from specific product knowledge and business skills
related trainings. Rewards and Recognition program Impressions, for frontline
retail staff at regional and national levels has seen huge success. It is open to
technicians, department store staff, and receptionists across the network of
Franchisees. The program touched approximately 10,000 frontline staff and seen
that their sense of belongings to Titan Company ecosystem. This has helped to
intensify the connection with them.
A separate team under HR is involved in training of frontline staff on
customer engagement, grooming, Product knowledge and selling. This has been
successfully implemented both at company and franchisee stores.
Engagement . Apart from regular store visits by the sales, regional managers and
business heads, there are open sessions for discussions on RoI, Break-even point,
IRR and they are engaged for a year to year basis, exemplifying the Titan
Companys commitment.
Business Associate Meet (BAM) is held biennially where a various
engagement activities such as one-on-one business planning sessions for each
store, Franchisee workshops, recognition programs etc. are conducted. A testament
of partner commitment is that many of the franchisees have stood through thick
and thin and many of those who started as watch franchisees are now dealing with
the Company across Jewellery, accessory and eyewear.
In a bid to take the Titan vision of sustainable development forward, each
and every brand under the Titan company umbrella is involved in variant

reformatory schemes and programs for the betterment of the country and its
people. Franchisees are also involved in some of the Corporate Social
Responsibility Activities.
Many of the Franchisees have contributed in the form of individual efforts to
some of the Titan Companys CSR initiatives, such as the Titan Kanya. Titan
Company makes significant efforts to reduce the carbon emissions per square foot
of the stores and ensure safety considerations by getting involved in designing of
the stores. All the company owned stores and most of the Franchisee stores have
switched to LED lighting.
The Customer Connect: Encircle
Titan Companys newest loyalty program is called Encircle which
encompasses all the three consumer facing businesses and unifies the customer on
a single platform that keeps them loyal and engaged. The customers are engaged
on a regular basis and provided with information on new products and services
besides rewarding them for loyalty.
Responsible Advertising and Consumer Education
Titan Company understands that advertising is the life of trade. Advertising
is seen as a catalyst to educate consumers and get in sync with the core business
values in addition to promoting sales. Not long back, the Tanishq campaign
featured Indias leading celebrity couple bringing to light the varying facets of a
diamond purchase. In another bold TV commercial the same brand charmingly
celebrated a second marriage; an event looked down upon by large parts of Indian
society. Similarly, when some sections of society found one of the Fastrack
advertisements to be offensive, it was withdrawn forthwith.
The Jewellery division has rolled out two alternate schemes in place of
Golden Harvest scheme that had to be stopped on the basis governments modified

rules. In an attempt to take innovation to the consumers, Titan Eye+ has

aggressively communicated an online testing tool through digital media and PR to
raise awareness and get people to detect the need for correction or change in power
at the appropriate time from the comfort of their home/office. All the claims on
product performance are tested extensively and are backed by product warranties
relevant for each category.
DEMOGRAPHIC ANALYSIS:
The demographic factors pertaining to consumers are mainly age, education,
occupation and income.
Table-1: Showing Gender Wise Classification Of Respondents

Sex
Male
Female
TOTAL

No.

of

respondents
80
20
100

Percentage
80
20
100

As per the table, of the respondents 80% are male and 20% are female.
Table 2: Showing Classifiction Of Respondents On The Basis Of Age Group
Age group (in years)No. of respondents
10-20
20
20-30
60
30-40
10
Above 40
10
Total
100

Percentage
20
60
10
10
100

Table-3: Classification Of Respondents On The Basis Of Monhtly Income

Of Family
Monthly income (in
No.of
Rs.)
Below 5000
5000

respondents
40

Percentage
40

10000
10000 15000
Above

14
36

14
36

15000
Total

10
100

10
100

This table classifies the respondents based on monthly income. Of the

respondents 40% belong to the income group of below Rs. 5000, 36% to the
income group of Rs. 10000 to Rs. 15000, 14% to the income group of Rs.5000 to
Rs. 10000 and 10% to above Rs. 15000 group.

Table 4: Classification Of Respondents Based On Qualification

Qualification
S.S.L.C.
Graduate
Post-graduate
Others
Total

No. of respondentsPercentage
10
10
60
60
4
4
26
26
100
100

From the above table it can be seen that of the respondents, 10% have studied up
to S.S.L.C., 60% are graduates, 4% are post graduate and remaining 26% are others
(like P.U.C., Engineering).
Table : 5 Classification Of Respondnets Based On The Source Of Information
About Titan Watches
Source

of

information
Advertisement
Relatives
Friends
Total

No. of respondents
Percentage
14
35
14
35
12
30
40
40

The above table indicates the sources of information about Titan watches.
Of the 40 respondents, 35% each came to know about the Titan brand of watches
through advertisement and relatives and 30% through their friends.
Table8-: Classification Of Respondents On The Basis Of Plan To
Change Watch
Period (in years)

No.of

Percentage

Less than year

1 to 3
3 to 5
Above 5 years
Total

respondents
20
34
28
18
100

20
34
28
18
100

As per the above table, 34% of the respondents wants to change the watch in
a period of 3 years, 28% in 3 to 5 years, 20% in less than a year and 18% after 5
years.

CONCLUSION
Though the feeling of relief encroaches the mind of the investigator, the
result of the study pains him much. The chronic employees of Titan Industries
Watch Division, that too Case

Manufacturing employees have various factors

contributing to the problem in HR Deliverables in the industry. The important factor is

that the attitudes of the individual towards ones own job and its prospects. If the HR
professional has a close contact with every employee, they can be given on open
counseling and made to be more duty conscious and that will improve condition. A
proper understanding and co operation between the employees and HR professionals
is the fundamental pre-requisite for the successful operation of industry. The
employees should also develop a sense of belonging and loyalty to the organization.

REFERENCE
1. Statical methods : S.P.Gupta
2. Methods and Techniques : C.R.Kothari
3. Marketing Management : Philip Kotler