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Titan plans to enter global market with jewellery business

09 june 2018
India’s retail major Titan, a TATA Group company, is now planning to take its jewellery business to international markets by end of FY19.To begin with, Titan is looking at foraying into Asian market by setting up stores on franchisee basis.

Image credit: Titan

Bhaskar Bhat, Managing Director of Titan Company, said, "The watches business has a minuscule presence in the international markets. The big change will come when our jewellery becomes international. By the end of FY19, we are planning to open stores in Asian countries.”
Given that jewellery accounts for around 75 per cent of Titan, and is a low margin business unlike watches, the company will not make large investments to enter these geographies, instead will opt for low-cost franchisee model.
The company had entered global markets with the watches business in the early 1990s and is currently present in Africa, West Asia and South East Asian countries. In 2011, the company had acquired Swiss brand Favre-Leuba, which is now sold in Japan, Taiwan, Hong Kong, and Dubai. Titan has also forayed into the United States through a partnership with Amazon last year and is looking to expand to Europe in the coming years via the e-commerce tie-up.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished


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