Titan looks to women’s segment for growth

As a part of its growth strategy, Titan is planning

to tap the women’s segment in India. With just about 15-18 per cent watch ownership amongst Indian women, the company sees a huge opportunity for Raga and all their watch brands targeted at women. Raga, the exclusive women’s watch collection from Titan was launched in 1992. It has transformed and evolved over time catering to changing consumer tastes. In October last year, Titan roped in actor Katrina Kaif as Raga’s brand ambassador to reach out to a wider segment of progressive Indian woman.

Raga is currently available in a wide price spectrum from Rs 1,500 to Rs 22,000 and it enjoys a strong presence in the medium price range of Rs 3,500 to Rs 4,000. The collection is present in over 4,500 outlets across India. Titan is targeting a turnover of Rs 400 crores for the brand this fiscal, up from Rs 315 crores during last financial year. Raga has witnessed a 27 per cent CAGR in the last five years.

Apart from Raga, Titan is also looking at exploring the women’s segment through its other offerings: Titan and Sonata. About 40 per cent of Titan’s watch sales come from the women’s segment, up from about 30 per cent six years ago.