Titan Company is witnessing a sharp divergence in demand across India's watch market, with the sub-₹1,000 segment facing 'serious sluggishness' even as consumers increasingly opt for premium and higher-priced watches. According to Livemint, Chief Marketing Officer Ranjani Krishnaswamy stated that watches are increasingly becoming a personal style statement rather than simply a functional accessory, driving the shift toward premium products. The company is experiencing robust growth in its premium watch portfolio, which is expanding at nearly twice the pace of its sub-₹25,000 category. Titan expects the upcoming festive season to be robust, with healthy consumer demand, an early wedding season and Diwali arriving later this year, as reported by Livemint.
Titan Company is actively evaluating acquisitions and investments in smaller watch companies as part of its premium and luxury portfolio expansion strategy. According to PTI, Chief Marketing Officer Ranjani Krishnaswamy stated that the company is looking at opportunities that may complement its long-term growth ambitions and help deepen its presence across segments and markets. The strategy builds on Titan's past acquisitions in its jewellery business, including CaratLane, with Krishnaswamy noting that any such move would have to be complementary to Titan's broader growth journey rather than opportunistic. As reported by PTI, the idea of acquiring smaller watch companies has been debated internally at Titan, with Krishnaswamy emphasizing that when the time is right and the partner is right, it will certainly be interesting for the company to pursue such opportunities. She also indicated that Titan remained open to inorganic growth, including investments in or acquisitions of smaller watch companies, provided such opportunities complemented its broader strategy.
Titan is ramping up its mechanical watchmaking capabilities as it seeks to build a larger presence in the premium end of India's watch market, targeting a 25% share of the segment above ₹25,000, according to Kuruvilla Markose, chief executive officer of Titan's Watches Division. As reported by PTI, the company has set itself a vision to be the third force in the world of watches, joining the Swiss and Japanese manufacturers. Markose stated that while the company has some distance to go to achieve this target, they will continue working through their portfolio to reach this ambition. The company has been pursuing this goal with a lot of pride and a lot of hard work, as Krishnaswamy told PTI, marking a significant milestone in Indian watchmaking with the launch of Vetra, a branded movement platform.
The premiumisation strategy is already showing positive results in the division's financial performance. According to Mint, Titan's consolidated Watches business reported total income of ₹1,543 crore in the June quarter, up 21% from ₹1,273 crore a year earlier. Earnings Before Interest and Taxes (Ebit) rose to ₹295 crore from ₹287 crore, taking the segment margin to 19.1%. Analogue watches grew in the mid-20% range, while smartwatches declined in the single digits, with the company attributing the growth to premiumisation and continued consumer preference for analogue timepieces. As reported by PTI, the company is witnessing robust growth in the premium segment of its watch portfolio, which is expanding nearly twice as fast as the sub-₹25,000 category. Krishnaswamy told PTI that the company is experiencing very healthy start to the festive season and is struggling to ensure we have the capacity to service demand.
The push comes with the launch of Titan's Vetra-branded Titan Automatics collection, priced at ₹48,000-55,000, as the company moves further upmarket while keeping mechanical watches within a relatively accessible price range. As reported by PTI, Titan last week launched Vetra, a branded movement platform marking a significant milestone in Indian watchmaking. The name is derived from a combination of 'Veda' (knowledge) and 'Tra' (instrument), and is expected to strengthen its presence in the high-end global horology space. The movements are based on Titan's 7,000-series mechanical platform and branded Vetra 7, with Markose indicating that Titan's ambition extends beyond the Vetra range, having been developing mechanical movements in-house since 2010.
The company is witnessing serious sluggishness in the sub-₹1,000 mass watch segment as watches increasingly become a personal style statement, while limited-edition and higher-priced pieces are finding strong demand. According to PTI, Krishnaswamy acknowledged that the emergence of smaller India-focused micro watch brands building products around Indian design sensibility and culture is a positive development rather than a threat to Titan's market leadership. She emphasized that competition makes the market leader more agile and innovative, stating "the most lonely thing that can happen to you is to be the only person in the category." The company also retails international brands such as Tommy Hilfiger, Kenneth Cole, Police, Cerruti and Roamer in India through its Helios retail network, and is open to bringing in more accessible Swiss brands as free trade agreements potentially ease import costs.
