Titan to sell-off Swiss brand Favre-Leuba

Titan Industries is looking at selling off Swiss watch brand

Favre-Leuba, which it acquired in November last, in India. Titan had acquired the 300-year old Favre-Leuba for €2 million. The decision comes after the company felt that developing Favre-Leuba brand in the country would take almost a year, while their own Swiss label, Xylys will help them grow in the lucrative premium segment.

The Swiss watch segment in India is estimated to be growing at 30 per cent annually. And the demand is attracting hoards of global brands to India. Titan currently has a presence in the segment with its own brand Xylys, which sells in the price range of Rs 10,000- 25,000 and is likely to generate revenues of Rs 50-60 crores in the next 2-3 years. Titan had earlier said it eventually aims to be selling watches in the Rs 40,000- 50,000 bracket.

With the aim of becoming a complete lifestyle accessories label, Titan’s Fastrack has already entered into bags, belts, wallets segment and is looking to enter motorcycle helmets apart from adding newer categories such as fashion footwear.

Xylys is an eloquent interpretation of Swiss watch making with the trappings of exquisite craftsmanship and impeccable detailing. All Xylys watches are created with a fine sense of design made from carefully selected materials and crafted with a passion for detail. Every aspect, from the movement to the elegant face to the detailing on the case to the logo on the crown, contributes to the uniqueness of the timepiece.