Established in 1984, Titan Company limited dominated the Indian watch market with coverage of around 60% of the organized share of the market. According to Euromonitor International Report, the Indian watch industry had scaled over 17% of retail value growth in 2016 with total sales of INR 89 billion. The Indian market had been a promising market with the sharp increase in disposable incomes, sudden rise in consumer spending and symbolizing watch as status symbol thereby registering a rapid growth in retail value sales. Titan had weathered the implementation of GST and demonetization in India and yet stood tall with a market share of 38% in the watch industry. Titan watches, the game changer of the timepiece industry, had been keenly observed and followed in the retail industry. A detailed analysis of the challenges of the watch industry, customer demographics, business environment and competitor analysis had been revisited to evaluate the possible opportunities for growth. This case essentially describes the trends, competitive landscape and scope ahead for Titan. It extends the discussion on the smart watch segment and wearable devices followed by emphasis on the issues and opportunities for Titan in the Indian watch market.
Titan Company Limited, Indian watch market, watch industry, smart watches, India.