Crafting Timeless Success: The Titan Story

Shevaughn Pimenta, Apoorva Bajj

Jan 12, 2025 — 14 min read

Titan Company Limited Success Story

Titan Company Limited, a pioneer in lifestyle retail, has firmly established itself as a leader in multiple verticals, blending innovation, craftsmanship, and customer-centric strategies.

Born from the Tata Group's vision, Titan has grown from a watch manufacturer to a diversified powerhouse with a presence in jewelry, eyewear, accessories, and technology. With its commitment to redefining industries, Titan continues to embrace modernity while upholding traditional values, appealing to a broad demographic of consumers. The company’s innovative approach to design, backed by robust technological advancements, has led to iconic product lines and memorable campaigns that resonate with customers globally.

This post provides you with information about How Titan Company Limited started, its Startup Story, History, Tagline, Logo, Business Model, Funding, Revenue, Growth, and more.

Titan Company Limited - Company Highlights

Name	Titan Company Limited
Headquarters	Bengaluru
Sector	Jewellery
Founder	Xerxes Desai
Founded	1984
Website	Titancompany.in

Titan Company Limited - About

Beginning its journey in 1984 with just one product, today, Titan stands as a powerhouse in India's lifestyle industry, employing over 8,000 people directly and supporting around 38,000 individuals across its ecosystem. With 16 iconic brands and a sprawling network of over 2,000 retail stores, Titan continues to pursue growth that is both profitable and responsible, keeping its stakeholders at the heart of its mission.

Known as one of India's most admired and respected companies, Titan leads the way in Jewellery, Watches, and eye care, earning trust through exceptional brands and customer-centric experiences. But they didn’t stop there—Titan has ventured into emerging categories like Wearables, Indian Dress Wear, Fragrances & Fashion Accessories. By understanding and anticipating customer preferences, they have carved a distinct identity in these competitive lifestyle segments.

Titan Company Limited - Industry

India’s jewelry industry continues to shine, boasting a remarkable market size of USD 85.52 billion as of 2023. This growth trajectory is further fueled by key investments, such as the Malabar Group’s announcement in September 2023 to invest INR 1,000 crore (US$ 120 million) by 2025.

Foreign Direct Investment (FDI) has also played a significant role in shaping the sector. Between April 2000 and March 2024, cumulative FDI inflows in diamond and gold ornaments reached an impressive US$ 1,276.52 million.

India’s export numbers reflect its global dominance in the gems and jewelry space. Between April and June 2024, exports hit US$ 6.87 billion, with June alone contributing US$ 1.91 billion.

Globally, India holds the top position in exporting cut and polished diamonds. It also ranks second in gold jewelry, silver jewelry, and lab-grown diamonds, showcasing its stronghold across diverse jewelry categories.

Titan Company Limited - Founders and Team

Xerxes Desai – The Visionary Founder

Xerxes Desai – Founder, The Titan Company

Xerxes Desai, Titan's first Managing Director, played a pivotal role in shaping the company's legacy. A graduate of Elphinstone College and Oxford University, Desai joined Tata Administrative Services in 1961. During the 1970s, he proposed the idea of a watchmaking venture to Tata, which ultimately led to the founding of Titan in 1986 as a joint venture between Tata and the Tamil Nadu Industrial Development Corporation (TIDCO).

Desai's visionary leadership extended beyond watches. He also established Tanishq, now one of India’s most iconic jewelry brands. His innovative thinking and ability to align strategy with opportunity laid the foundation for Titan’s success. Desai passed away in 2016.

Mr. C. K. Venkataraman – The Dynamic Managing Director

C. K. Venkataraman - Managing Director, The Titan Company

Mr. C. K. Venkataraman, Titan’s current Managing Director, brings over three decades of expertise in driving growth and innovation in the lifestyle industry.

Growing up in Coimbatore, Tamil Nadu, Mr. Venkataraman pursued a Bachelor’s in Mathematics before earning his PGDM from IIM Ahmedabad in 1985. He joined Titan in 1990 as Advertising Manager and excelled in various roles in the Watches Division for 14 years. Transitioning to the Jewellery Division in 2005, he headed the division for another 14 years, steering it to new heights.

In October 2019, he was appointed Managing Director of Titan, leading the company with a focus on excellence and strategic growth. Acknowledged for his exceptional leadership, Mr. Venkataraman was honored as the Business Leader of the Year at the Corporate Excellence Awards.

Ms. Suparna Mitra – The Transformative CEO of Watches and Wearables

Suparna Mitra – CEO, Titan Watches and Wearables

Suparna Mitra, CEO of the Watches and Wearables Division, is a trailblazer with three decades of experience in lifestyle and retail marketing. An electrical engineer from Jadavpur University and an MBA from IIM Calcutta, she began her career as a management trainee at Hindustan Unilever Limited before joining Titan.

In her first stint with Titan, Suparna held various marketing roles, both domestically and internationally. Her career then took her to Talisma Corp. as Director of Product Marketing and Arvind Brands Ltd. as Business Head for Lee. Rejoining Titan in 2006, she served as the Global Marketing Head for Titan, Regional Business Head for South India, and Chief Sales and Marketing Officer for Watches and Wearables.

Now leading Titan’s Watches and Wearables division, Suparna drives innovation and growth, particularly in the post-pandemic era. She also contributes to broader industry development, serving on the Board of Governors for IIM Kozhikode and previously on the board of Tata Power Solar.

Titan Company Limited - Startup Story

Xerxes Desai: The Pioneer Behind Titan's Legacy

Xerxes Desai’s journey is one of vision, perseverance, and resilience, as he shaped Titan into a brand that became synonymous with aspiration for Indian households. After graduating from Elphinstone College and Oxford University, Desai joined Tata Administrative Services in 1961, where he worked across several Tata Group companies like Tata Press and Taj Hotels.

The idea for Titan first came to Desai in the 1970s. At the time, watches were either smuggled, state-supplied by HMT, or simply unavailable in the open market. Owning a watch involved a bureaucratic process: submitting an application, receiving departmental approval, and finally picking up the watch weeks later.

Desai recalled this scarcity vividly: "One had to write an application to HMT to get a watch. You couldn’t just buy it. It was a long process that reflected the frugal and restrictive times we lived in."

Desai’s proposal to J. R. D. Tata in the late 1970s to start a watchmaking company was well-received. However, navigating the bureaucratic and regulatory hurdles of a closed economy delayed the project's fruition until 1986. With support from the Tamil Nadu Industrial Development Corporation (TIDCO), Titan Watches Limited was formally launched in Hosur.

Overcoming Challenges to Build an Icon

Desai’s vision faced numerous obstacles, from struggling to find collaborators to the Swiss abruptly curbing exports of crucial components before meetings. India’s closed economy posed another challenge, as government approvals for manufacturing and marketing were entangled in red tape.

"One couldn’t start making and marketing watches unless we manufactured the movement—the heart of the watch. With foreign imports banned, we had to search relentlessly for a partner," Desai shared.

The breakthrough came in the mid-1980s, as Prime Minister Rajiv Gandhi’s government revived Titan’s stalled application, ushering in a new era for Indian enterprise. By the time liberalization policies were rolled out in 1991, Titan had already carved a niche, introducing India to its first quartz watches.

Launched in Chennai on July 26, 1984, Titan Watches Limited quickly gained attention for its superior quality and innovative designs. By 1987, Titan’s first print advertisement showcased its wide range of watches, marking its entry into the Indian market with a bold statement.

The 1990s saw Titan emerge as a household name, symbolizing aspiration and modernity. Exports began in 1991 and by the mid-1990s, Titan was a trusted brand both domestically and internationally. Today, Titan stands as the world’s fifth-largest manufacturer of timepieces, continuing the legacy of precision, innovation, and design excellence that Desai set in motion.

Titan Company Limited - Mission and Vision

Vision

To shape transformative experiences that inspire individuals and leave a lasting positive impact on the communities and industries they serve.

Mission

Titan thrives on a foundation of bold innovation and a values-driven culture. Their goals are to:

Continuously push the boundaries of creativity.
Achieve excellence in every performance metric.
Maintain world-class standards in all aspects of their operations.

With these principles, Titan goes beyond creating products—it delivers experiences that redefine expectations and drive meaningful change.

Titan Company Limited - Name, Tagline and Logo

Titan Company Logo

Name: Titan Company Limited

Tagline: "Be More"The remarkable success of Titan Company Ltd. reflects their unwavering dedication to excellence and their relentless drive to exceed customer expectations, perfectly encapsulated in their slogan, ‘Be More.’
Logo: The Titan logo is aquamarine and white, with the word "Titan" in grey on a white background.

Rebranded as Titan Company Limited, the organization introduced its new logo, the ‘Titan Star.’ This emblem symbolizes their dedication to fostering innovation, nurturing talent, delivering value, and delighting customers while upholding the highest global standards.

Titan Company Limited - Business Model

Titan Company Limited operates with a customer-centric business model designed to cater to diverse consumer needs. Their strategy focuses on several key pillars:

Diverse Product Portfolio: From watches and eyewear to wearables, Indian ethnic wear, fragrances, and accessories, Titan offers an extensive range of products to serve a variety of customer preferences.
Expansive Retail Network: With a robust presence across exclusive brand outlets, multi-brand stores, and e-commerce platforms, Titan ensures seamless access to its products.
Commitment to Quality: Renowned for delivering value for money, Titan prioritizes superior craftsmanship and reliable quality in all its offerings.
Exceptional Customer Support: By offering comprehensive product assistance and after-sales services, Titan builds lasting relationships and cultivates brand loyalty.
Innovative Research & Development: Continuous investment in R&D drives product innovation, ensuring Titan stays ahead in the lifestyle and technology markets.
Strategic Collaborations: Partnerships with designers and industry experts enable Titan to offer unique and trendsetting products.
Sustainability Efforts: Titan emphasizes eco-conscious practices, including renewable energy use, water recycling, and minimizing reliance on fossil fuels.
Social Responsibility: Safety and community-focused initiatives remain at the heart of Titan's corporate ethos, reflecting its commitment to making a positive impact.

This comprehensive approach solidifies Titan's position as a leader in the lifestyle industry, combining innovation, responsibility, and customer satisfaction.

Titan Company Limited - Revenue Model

Titan Company Limited - Tanishq, Titan Watches, Titan Eye+

Jewelry Business (Tanishq)

The jewelry segment, led by Titan's flagship brand Tanishq, is the company’s primary revenue generator, contributing approximately 82% of total earnings. Tanishq is a trusted name, offering an extensive range of jewelry for diverse occasions, from weddings and festivals to daily wear. With a strong focus on high-value gold and diamond pieces, Tanishq caters to the premium market. Sub-brands like Mia target workwear and everyday jewelry needs, while Zoya specializes in luxury and bespoke offerings, addressing various consumer preferences.

Watches

Historically the foundation of Titan, the watches division now accounts for about 13% of the company’s revenue. It encompasses a diverse portfolio of brands, including the affordable Sonata, youth-centric Fastrack, elegant Titan Raga, and premium collections like Xylys and Nebula. Titan has also expanded into smartwatches and fitness wearables through collaborations with global tech firms, staying relevant in a tech-driven market. While the segment’s revenue share has decreased, watches continue to enhance Titan’s brand identity both in India and internationally.

Eyewear (Titan Eye+)

The eyewear division, branded as Titan Eye+, contributes around 2% of revenue. It offers a variety of products such as prescription glasses, sunglasses, and contact lenses. With growing consumer interest in eyewear as both a functional and fashion accessory, this segment has been experiencing consistent growth, even though it represents a smaller part of Titan’s overall portfolio.

Titan Company Limited - Challenges Faced

E-commerce Order Processing and Fulfillment

Titan Company faced significant hurdles in managing the seamless processing of orders through its backend systems. Specifically, the integration between the order management system (OMS) and the warehouse management system (WMS) created inefficiencies in fulfilling customer orders placed across various online marketplaces and websites. These complexities in handling diverse digital touchpoints impacted the efficiency of their operations. To address these challenges, Titan sought assistance from Qualitest, leveraging their expertise to design and implement a robust testing strategy that ensured end-to-end (E2E) functional flows on their new digital platform were reliable and scalable.

Economic and Geopolitical Challenges in FY 2023-24

The fiscal year 2023-24 presented its own set of challenges, including geopolitical tensions, rising gold prices, and persistent inflation, all of which dampened consumer sentiment. These macroeconomic factors had the potential to derail growth; however, Titan countered these obstacles by delivering compelling customer value propositions across its various business verticals. By staying attuned to consumer needs and maintaining an unwavering commitment to excellence, Titan successfully navigated these headwinds while delivering a robust financial performance.

Titan Turbo Ambition and Strategic Vision

In the fiscal year 2022-23, Titan’s leadership undertook its periodic five-year strategic planning exercise, an approach that has guided the company for over two decades. This forward-thinking engagement led to the articulation of the Titan Turbo Ambition and Strategy, aimed at setting new benchmarks of excellence across all its business verticals and subsidiaries. This bold vision was designed to elevate Titan to the next level, pushing the boundaries of innovation, operational efficiency, and customer satisfaction in an increasingly competitive market. The challenges and strategic focus outlined in this plan reflect Titan’s commitment to sustained growth and leadership in the industry.

Titan Company Limited - Investments

Titan drives growth and innovation through strategic investments across its brands, emerging businesses, and global markets.

Date	Organization Name	Funding Round	Amount
Sept 9, 2024	T1 (aka t1 Protocol)	Pre-Seed Round	$2.5M
Aug 9, 2023	CaratLane	Secondary Market	Rs. 46.2B
March 11, 2022	Great Heights	Corporate Round	$20M
Nov 21, 2017	KaHa Pte	Venture Round	$4.5M
Jul 20, 2015	Innoviti	Series A	Rs.300M

Titan Company Limited - Mergers and Acquisitions

Titan strengthens its portfolio through strategic mergers and acquisitions, enhancing its market presence and diversifying its offerings.

Acquiree Name	Date	Price
Noise	Mar 9, 2022	—
Hug Innovations	Feb 11, 2020	—
CaratLane	May 6, 2016	—

Titan Company Limited - Growth

Titan's growth is driven by relentless innovation, strategic expansion, and a commitment to excellence across its diverse portfolio.

Fiscal Year	Operating Revenue	Total Expenses	Profit-Loss
FY22	INR 27,210 crore	INR 25,037 crore	INR 2,173 crore
FY23	INR 38,270 crore	INR 38,270 crore	—
FY24	INR 47,600 crore	INR 44,298 crore	INR 2,816 crore

In FY22, Titan Company Limited reported an operating revenue of INR 27,210 crore, total expenses of INR 25,037 crore, and a profit of INR 2,173 crore. In FY23, revenue increased to INR 38,270 crore, matching the total expenses, resulting in no profit or loss. By FY24, revenue rose further to INR 47,600 crore, with expenses at INR 44,298 crore, achieving a profit of INR 2,816 crore.

Titan Company Limited - Advertisements and Social Media

Campaigns - #MOMentsTogether

Titan’s #MOMentsTogether campaign encourages kids to give moms a break from endless questions by using Titan’s Ask A-आई Chatbot. The campaign created a buzz with playful posts of moms holding signs demanding "time off," followed by reels, memes, and user-generated content. Prateek Gupta, Titan's brand communication head, emphasized the campaign's message: “Celebrate moms by giving them a much-needed breather from constant responsibilities.”

#IDidIt Campaign

Tanishq’s #IDidIt campaign, in collaboration with the Jaipur Literature Fest, celebrates women’s success stories. Women across India are invited to share their journeys, with select stories featured in an anthology introduced by publisher Urvashi Batalia. Launched on Tanishq’s social media, the campaign highlights empowerment, independence, and resilience, offering women a platform to inspire and celebrate their achievements.

Titan Company Limited - Awards and Achievements

Titan and its brands have garnered prestigious accolades, including sustainability rankings, product design awards, and recognition as India's most desired and globally acclaimed retail brands. Some of the many are as follows:

2014

Best Employer for National Award for the Empowerment of Persons with Disabilities by the Government of India.
Ranked among Asia’s 100 Most Sustainable Corporations by Channel News Asia Sustainability Ranking.
Red Dot Award for "Best Product Design of the Year – Watches & Jewellery" for Skeletal Edge.
Bronze Medal at the Indian Effies for Fastrack.

2023

Ranked as "India's Most Desired Brand" by TRA's Most Desired Brands Report.
Tanishq won the Global Awards for Excellence in Quality Management & Leadership by the World Quality Congress.
Tanishq became the first Indian brand to enter the top 30 Best Retail Brands in the Asia Pacific, ranking #13, according to Interbrand.

Titan Company Limited - Future Plans

Titan’s Expansion Plans

Titan has ambitious plans to expand its retail network both in India and internationally. Its flagship jewelry brand, Tanishq, will open 45 new stores across India and six stores each in the United States and the Middle East. Meanwhile, CaratLane is set to grow its presence to 425 stores in over 200 towns. Mia, another Titan brand, aims to double its revenue within the next three years, reflecting its focus on scaling operations.

Growth in Emerging Businesses

Titan plans to triple the volumes of its emerging businesses, which include wearables, women's handbags, and ethnic wear. Additionally, Titan is set to launch its exclusive ladies' handbag brand, Earth, later this year, further diversifying its portfolio.

Jewelry and Eyewear

The company is aggressively expanding its jewelry footprint. In its eyewear division, Titan is targeting a compounded annual growth rate (CAGR) of over 20% in the coming years, demonstrating its commitment to strengthening its presence in this segment.

Innovation and Sustainability

On the sustainability front, the company is improving its Environmental, Social, and, Governance (ESG) performance through initiatives focused on energy efficiency, a circular economy, and responsible partnerships.

Titan Engineering & Automation Limited (TEAL)

Titan’s technology and manufacturing subsidiary, TEAL, is working towards establishing a significant niche for itself on the global stage. This underscores Titan's commitment to technological advancements and innovation across its business verticals.

FAQs

What are the brands that come under Titan Company Limited?

Titan Company Limited has Tanishq, Titan Watches, and Titan Eye+ under its umbrella.

Who is the founder of Titan Company Limited?

Xerxes Desai founded Titan Company Limited in 1984.

What was the revenue of Titan Company in 2024?

Titan Company Limited generated an operating revenue of INR 47,600 in FY24.

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