'Titan to be a lifestyle products company in 3-4 yrs': Venkataraman

Titan Company MD CK Venkataraman, Fortune India's 'Best CEO' in consumer durables for 2024, says the Tata group-owned firm is well on its path to becoming a well-rounded lifestyle company over the next 3-4 years.

"Over the next 3-4 years, we would become a more well-rounded lifestyle products company in the share of customers. From ethnic wear, women's bags, perfumes, smart wearables, and, of course, our traditional businesses like watches and jewellery. We would become a more international company because of the share of Tanishq's business outside India."

Speaking about Titan Company's various businesses, Venkat says on the analogue watch side, it's been a dream run for the last 4-5 years. "The analogue watch, and particularly the premium analogue, with Titan brand leading, has continued to do very well."

He says the jewellery business has always been strong for Titan. "We have a portfolio, a strong Tanishq, and strong Mia, Caratlane and Zoya. All those have continued to fire well. The International Foray of Tanishq has been exceptionally strong."

But in the masstige space, Venkat says Titan's Skinn perfume rules. "And we are now expanding that to become rather bigger in the context of the size."

In the Titan Eye+ business, Venkat says it became a profitable business by FY22. "Over the last 9 months, we have worked on growth. We sacrificed profitability to get due share in the affordable fashion and progressive lens space. We expect to capitalise on those strategic changes. We also launched our 1st big ticket women's bag 'Irth' in October of 2022, and hope to make a big difference."

Venkat attributes Titan Company's success to its employees. "The unique combination of capability and ownership of thousands (70,000+ employees) of Titanians is the reason for this success." He says there is a strategy for the leadership team of 150 seniors, but those 70,000 employees, who work on the ground, are equally responsible.