Who is not familiar with the name Titan! This product of Tata Group made its place in the stock market from the beginning. For a long time, watch in India was known as Titan by the countrymen. Started thirty-eight years ago, this watch company today manufactures not only watches but many other products. Even, after listing in the stock market, Titan Watches Limited has shown huge profits to the investors.
Notably, this watch company was also a favorite of investor Rakesh Jhunjhunwala. In the financial year 2022, this company has a business of Tk 29 thousand 33 crores. Currently Titan’s market capital is 2.20 lakh crore. Last January 8, the price of one share of Titan was around 2500 taka.
Also this company is aiming to expand their business scope further. Titan opened a total of 111 new stores in the quarter ended last December. Also opened 36 new Titan i Plus stores between October and December. Titan’s profit for the second quarter of FY2023 was Tk 857 crore. That is, an increase of 33 percent was seen. Titan also saw a 14 percent increase in watches and other wearables. Additionally, Titan has shown 10 percent year-on-year growth in iCare business.
Titan Company started its journey on July 26, 1984. It is Tata Group and a joint venture between Tamil Nadu Industrial Development Corporation. The company started making watches two years after its establishment. After that, since 1987, Titan watches have been in the market.
After capturing the country’s watch market, Titan started to expand the business further. Apart from watches, other products are also looked at. In 1993, the name was changed from Titan Watches Limited to Titan Industries Limited. Titan entered the jewelry market in 1994. Tanishq was launched in collaboration with an American brand. Tanishq is currently India’s largest branded jewelery manufacturer.
Titan earns more than 80 percent of its profits from the jewelry sector. By 2022, Titan has a 6 percent share in the country’s jewelry market. After Tanishk, Titan Eye Plus was launched. This company took over the glasses market of the country. Titan also launched the Sonata brand. Consumers continue to love this brand equally even today.
Titan launched FastTrack in 1998 to capture the youth market. They started selling watches and other fashion items. As a result, Fasttrack has a fierce battle with the Timex brand. As of 2019, Titan is the fifth largest watch manufacturer in the world. Apart from watches and accessories, Titan also focuses on other products. Cosmetics brand Skin was launched in 2013. This perfume is created in collaboration with six of the best cosmetic manufacturers.
This brand captured the market soon after the launch. It is packaged in France. Not only that, Titan also enters other fields. Titan also launched a saree brand in 2017. A saree shop called Taneira opened in Bangalore. Titan Company has created employment for more than seven thousand people. This company has also made a place in the preferred list of investors. According to reports, stock market ‘big bull’ Rakesh Jhunjhunwala also used to invest in shares of this company. As a result of which his property increased at a great rate.