Titan's Bold Move: Eying $1 Billion Milestone in Watch Sales

Titan is optimistic about its watch business, projecting sales to reach USD 1 billion within two years. The growth is driven by premiumisation, expanding retail presence, and increasing international sales. The company targets the mid-premium and luxury segments, with notable growth in analogue watches.

Leading watch and jewellery maker Titan is projecting a buoyant outlook for its watch division, with expectations to reach the USD 1 billion sales milestone within two years. This forecast is fueled by premiumisation initiatives, retail expansion, and the growth of its international business, according to a senior official.

The company has seen a strong annual growth rate of around 16% over the past four to five years, focusing primarily on the mid-premium analogue segment and the higher-end market. Titan Watch Division CEO Kuruvilla Markose emphasized the potential of these sectors to drive future growth.

As the popularity of analogue watches experiences a resurgence, Titan is expanding its Helios store network to cater to the rising demand for luxury watches in India. With the economy and personal incomes growing, along with an aspirational millennial population, Titan anticipates a 30% increase in premium and luxury segments.