The Hindu Business Line : Titan bets big on premium segment this festive season

Bangalore, Nov.1 Titan hopes the overall cheer in the economy will have its influence on buying patterns this festive season. The watch brand is looking to see some big ticket purchase and is betting big on premium watches.

The company has ushered in the festival season with six new collections (totalling 250 designs) across its various brands, backed by a series of offers and advertising campaigns in the run-up to Diwali.

Said Mr Harish Bhat, COO, Watches, Titan Industries: “The mood all around is upbeat, the economy is looking up. The stock market is booming. An Indian is the richest man in the world. We hope this tide will lift up the Diwali mood as well.

“With affluence and buying power increasing, our prognosis is a brilliant festive season, especially in the premium watches segment. We expect 40 per cent of our sales this festive season to come from premium watches alone.”

Out of the six collections, five are in the premium category — Titan Heritage (inspired by Indian architecture), Raga Crystals (studded with Swarovski crystals), Nebula Pearl (solid gold watches studded with precious stones), Laurent collection (under Titan Regalia) and a new collection from Tommy Hilfiger (Titan’s licensee brand). Only the Sonata Yuva collection, aimed at the youth, is in the mass market category.

While TV campaigns are already on air for Raga Crystals and Yuva, other collections are hogging print and outdoor space. Offers for Diwali include gold coins along with Nebula watches, Mont Blanc perfumes with Xylys watches, 20 per cent discount on Regalia, and messenger bags free with Tommy Hilfiger watches.

The festive season (beginning with Dussehra, followed by Diwali, and going all the way till Christmas and New Year) is, not surprisingly, the highest contributor to yearly sales.

Mr Bhat said, “The festive season alone contributes about 35 per cent to yearly sales. Last year, watches sales were Rs 784 crore (8 million watches sold). This year too we expect a 35 per cent contribution from the festive season.”

Titan hopes to clock a total turnover of Rs 1,200 crore this year, selling 10 million watches.

Revive ‘Nebula’ brand

Titan is also using this festive season to revive its Nebula brand. The Nebula watches are made out of solid 18k gold; and with a price range of Rs 20,000-50,000, they cater to a niche consumer segment.

Traditionally, Titan has stuck to direct mailers to target high profile consumers. However, this festive season, Titan has decided to step up awareness for the Nebula brand, through an aggressive marketing campaign across print and outdoor media. Mr Bhat believes this brand, which was launched 10 years ago, will do well this festive season, considering that this year has seen some prosperity, and also since gold is generally considered auspicious, especially during Diwali. This festive season, the total marketing spend on Nebula is expected to be around Rs 1.5 crore.

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