Titan

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Background Note In the late 1970s, the Tatas had attempted to acquire the Bangalore-based watch company, Hegde & Golay. However, the venture failed to take off. In 1981, the Tatas received an invitation from the Tamil Nadu Industrial Development Corporation (TIDCO), to team up for a joint venture...

Engineering and manufacturing were critical success factors in the watch industry. As it commenced its operations, Titan faced major challenges. The company knew little about manufacturing quartz watches...

Watches
The quartz analog watch was an entirely new product for India in 1987. Titan decided it would radically change the way watches were marketed throughout the country. Titan's marketing strategy had five planks: a product of international quality, Indian designs, competitive prices, intensive advertising and promotion, and specialized retail shops to control the presentation...

Titan had global ambitions almost right from the start. But its globalisation strategy had evolved over time, partly by design, partly by circumstances. France Ebauches, from whom Titan had sourced its movements technology, had, at the time of entering into the technology arrangement, agreed to buy back a part of Titan's production of watch movements...

Titan believed one of its key strengths was its strong brand equity, built up over the last 15 years. Titan also had a strong after sales service network. Titan also believed it was well positioned against foreign competitors, due to its better understanding of the local markets...

Exhibit I: Revenue Break up by Division
Exhibit II: Segment Information
Exhibit III: Cost Break-up
Exhibit IV: Financial Performance

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