Titan news and archive

Titan Q4 net profit up seven per cent

Titan has reported a 7.4 per cent increase in net profit for Q4 ended March 31. Total income grew 43.89 per cent during the quarter under review. Despite the backdrop of a changing environment and regulatory moves like demonetization, the year 2016-17 was a satisfying one for the company. The company demonstrated the strength of its brands, the...

Retail

Titan reintroduces Favre Leuba in India

Titan Company has reintroduced the ‘Favre Leuba’ Swiss watch brand in India. The response for the vintage brand’s products with prices ranging between Rs 1.6 lakh and Rs 3.8 lakh has been good so far, says a Titan official. Thomas Morf, CEO, Favre-Leuba admitted they have received a good feedback for the collection and the brand recall is...

Business

Titan sales falter post demonetisation

Titan’s business verticals suffered a drastic slowdown for a few days immediately after demonetisation. Sales in the trade channel of its watch segment, which contribute about 50 per cent of total sales, have taken a hit and are yet to recover as most transactions in these outlets have been on cash. Titan is known for its Tanishq jewelry and...

BusinessFeatured

Demonetisation shadows over profit margins of retail companies

Demonetisation has curbed the spending power of consumers in a big way and the results are visible with companies posting their financial performance. The September quarter results announced by Shoppers Stop, Titan and Bata India are indicating the impact. Titan’s revenue declined 1 per cent, year-on-year. It derived as much as 74 per cent...

Retail

Titan looks for bigger footprint in East India

Titan is looking at adding 20 to 25 more stores within this financial year and this will include Titan Eyeplus, World of Titan, Fastrack and Tanishq Boutiques. The brand will add at least four or five stores for Tanishq stores, 10 to 12 stores for World of Titan and 10 to 15 more for Titan Eyeplus. Titan plans to go as upcountry as possible and...

Business

Titan acquires 62 per cent stake in Carat Lane for Rs 357.24 crore

Tata Group’s Titan Co Ltd will acquire a 62 per cent stake in online jewellery retailer Carat Lane for Rs 357.24 crore. A share purchase agreement has already been signed. The number of shares to be acquired is 1,91,42,545 representing 62 per cent of Carat Lane’s share capital. Titan has decided to go ahead with this acquisition because the...

Business

Titan reports a net decline of 14 per cent in 2014-15

Tata Group’s watch and jewellery major Titan Company reported a Rs 706 crores net profit for 2015-16, registering a 14.2 per cent decline from Rs 823 crores in 2014-15. This is a result of weak market conditions. Even on a consolidated basis, net profit declined 15.4 per cent to Rs 690 crores from Rs 816 crores. Standalone income from net sales...

Retail

Titan-Montblanc to invest Rs 250 crores in next five years

Titan and global luxury company Maison Montblanc, who have entered into a joint venture to open Montblanc retail outlets, will invest Rs 250 crores in the next five years. They will take the store count to 50 by 2020-2021. The stores will be spread out in 40 cities. The JV plans to spend around Rs 5 crore on each store they open. The move to...

Retail

Titan Eyeplus opens in Cooch Behar

Titan Eyeplus, the eyewear retail chain from Titan Company, opened its first ever retail store in Cooch Behar, North Bengal, making it the fifth store in the area and 92nd outlet in East Zone. The store has 100 styles in spectacle frames and sunglasses conforming to latest international trends. The prices range between Rs 995 to Rs 3495. It also...

People

Titan appoints three new directors for Montblanc joint venture

Montblanc, the maker of luxury writing instruments, and Tata Group company Titan got government clearance for their joint venture in single brand retail. Titan has appointed three directors, including its Managing Director Bhaskar Bhat, on the board of its new joint venture (JV) with Maison Montblanc to carry out single brand retail trading of...

Retail

Titan to open Montblanc boutiques soon

Titan will open five Montblanc boutiques in Mumbai, Delhi, Hyderabad and Pune in the next three months. Titan, India’s largest watch maker has a joint venture with global luxury brand Montblanc which sells premium pens, leather products, watches, perfumes and jewelry. Titan has got a nod from the Foreign Investment Promotion Board to open...

Retail

Titan Eye Plus to launch 60 new stores this fiscal year

Titan Eye Plus, a part of the Tata Group aims to open 60 new stores in this fiscal as per its aggressive retail expansion strategy. The company also plans to increase distribution of its in-house brands like Fastrack and Glares. Sunglasses in the Titan Eye Plus stores are priced between Rs 500 to Rs 30,000. Apart from in-house labels like...