Titan, part of India's Tata Group, a $70 billion global conglomerate known for its foray in steel, energy, IT, telecommunication, automobiles, retail and hospitality, has captured an increased share for watches in the GCC (Gulf Cooperation Council) states. Titan is the fifth largest integrated watch manufacturer brand in the world, manufacturing more than 11 million watches every year. With a customer base of over 120 million in 27 countries, Titan has established a presence in the international markets by constantly evolving its products to keep up with the times. "To compete in a crowded market is tough but we succeeded because of constant innovation and quality," said Bhat, who was on a short visit to the Kingdom to draw a marketing strategy.
Titan sells over 150,000 watches a year in Saudi Arabia and 500,000 watches in the GCC markets. "We dream to sell about 500,000 watches in the Kingdom every year because Saudis have accepted our brand and our prices are also very affordable," Bhat added. "With our focus on emerging global markets and the vision to be a leading international player, Saudi Arabia has always been a high priority market for us. We believe that with our strengths in design, manufacturing, marketing and retail, combined with the strong partnership we have built in Saudi Arabia with Al-Hussaini & Al-Yahya Investment Group, we will be able to build a powerful brand in this important market," Bhat added.
Othman Abdulrahman Al-Hussaini, manager of the sales and marketing department at Al-Hussaini group, said: "We are the biggest wholesale company in Saudi Arabia managing the Seiko brand for 50 years and Titan for 15 years through our 10 branches and seven after-sales service centers in the Kingdom."
He said: "We do a lot of research before marketing any brand. We want to keep an edge through the unique Titan Edge, the slimmest watch in the world, which will give more value to the customers."
Othman said, Titan watches with exceptional quality sell between $40 to $100 retail price range and give two years warranty.
Titan is spreading its wings globally, Bhat said, adding that Titan watches are retailed from over 7,000 points of sale worldwide. The company, which entered the Middle East in 1991, is among the top three brands in the GCC. Titan expanded to Asia Pacific in the late 1990s and has recently knocked the South African doors.
Titan, which made $1 billion in revenue in the financial year 2009-10, produces watches at its state of the art manufacturing facility spread over 450,000 sq. ft. at Hosur, near Bangalore in India, and four assembly plants in the country's states of Uttarakhand and Himachal Pradesh, and an electronic circuit block in Goa.
Bhat said Titan is also India's largest jewelry retailer through the Tanishq brand and recently launched prescription eyewear under the name of Titan Eye+. He said Titan's youth brand - Fastrack - has also ventured into accessories like belts, wallets and bags.
Titan, which keeps innovating different models and provide quality and durability, will launch the new Purple model shortly that will give a new meaning to fashion, he said. Bhat said Titan is also planning to put into the market the solar-powered watch soon.