TITAN'S MARCH
Business Today India|1st September 2024
TITAN COMPANY, THE GEM IN THE TATA SONS VAULT, HAS SET ITS SIGHTS ON ACHIEVING 1 LAKH CRORE IN REVENUES, DESPITE FACING CHALLENGES ON MULTIPLE FRONTS. IT IS BETTING ON AFFLUENT CUSTOMERS AND INNOVATIONS LIKE LIGHTWEIGHT JEWELLERY. WILL THIS PAY OFF?
ARNAB DUTTA
TITAN'S MARCH

BRANDED JEWELLERY WAS a novelty in 1994, when Titan launched the Tanishq jewellery range, nearly a decade after captivating India's market with quartz analogue wristwatches and unwinding the monopoly of 'Timekeeper to the Nation' HMT. Today, 30 years later, Titan's branded jewellery division fetches nearly 90% of its revenue.

Titan's gold and jewellery division is growing at a pace that most of its peers in the consumer discretionary market would love to replicate. Although the Covid-19 pandemic's lockdowns and supply disruptions in 2020 hit demand for consumer discretionary items, Titan reported high double-digit growth in its topline. Between FY21 and FY24, Titan's revenue grew at a compound annual growth rate of 33.14%, from ₹21,644 crore to ₹51,084 crore. In the same period, its profit after tax grew at a CAGR of 53.11%, from ₹974 crore to ₹3,496 crore.

At the heart of this growth story was gold, or its jewellery division, to be precise. Net jewellery sales-revenue collected at the counters minus GST, other taxes and dealer commissions-grew at a 26% CAGR between FY20 and FY24, from ₹16,738 crore to ₹42,172 crore. (Titan has not given up on watches, which have been looking up since the Covid-19 lockdown. More on it later.)

Titan's growth story has made it the crown jewel in the diversified Tata Group, but it is not sitting pretty. The key business divisions have been given ambitious targets. One is to double the overall retail value of its products or uniform consumer price (UCP) to ₹1 lakh crore by FY27.

Titan reckons it can do this by doubling the UCP of its jewellery division (which was ₹45,000 crore in FY24), increasing the UCP of its watches & wearables division by ₹4,000 crore (₹6,000 crore last year), that of Taneira branded sarees to ₹1,000 crore (₹250 crore) and Titan Eye+ (eyecare) to ₹2,000 crore (₹1,000 crore in 2024).

Bu hikaye Business Today India dergisinin 1st September 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business Today India dergisinin 1st September 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS TODAY INDIA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 dak  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 dak  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 dak  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 dak  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 dak  |
November 24, 2024