From luxury to lifestyle: the new avatar of Titan Company
When CK Venkataraman took over as CEO of Titan Company in October 2019, he had no idea he would face one of the toughest challenges of his career in the next six months.
A 30-year veteran of the Tata Group, Venkat had served as CEO of Titan’s jewelry business since 2005, before replacing longtime Managing Director Bhaskar Bhat who retired.
As India entered a strict lockdown from March 2020, Venkat had to find ways to create desire for Titan’s lifestyle products among homebound consumers. The company’s diverse offerings – from watches, jewelry and ethnic clothing to sunglasses, bags, perfumes, wearable clothing – may not be on the list of essentials for the pandemic.
Even though Titan’s outlets began to gradually reopen towards the end of 2020, the second wave of 2021 hurt the business even more.
But because of Titan’s legacy status and its trusted relationships with customers, distributors, franchisees, supplier partners, and the community, it could be “resilient.”
Even though Titan’s stock has nearly doubled over the past year, the recovery in activity has been a bit slow. But the MD is not “worried”. Instead, he chooses to take a medium to long term view.
Read all about how the Indian startup ecosystem is battling the second wave of COVID-19 here.
Here are some useful tools to help you find the nearest vaccination centers in real time.
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Credit: YourStory Design
- Indian startups raised around $ 6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, according to a report from Nasscom-PGA Labs. During the second quarter, 160 financing agreements were signed, up 2% from the January-March period.
Before leaving, stay inspired with …
“Titan has remained primarily a jewelry and watch business. But, we think the opportunity for other companies is great. He’s occupying a lot of the leadership’s attention right now. ”
– CK Venkataraman, Managing Director, Titan Company
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