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Titan Industries has roped in two more brand ambassadors from Bollywood for its watches division — Katrina Kaif for traditional women's range Titan Raga — and Farhan Akhtar for Swiss-made brand Xylys.
Titan Raga retails from Rs 1,500-12,000, and claims to be growing at a CAGR of 27 per cent over the last five years. Launched in 1992, the Titan sub-brand is set to touch sales of Rs 400 crore this financial year, according to the company.
Kaif will feature in the brand's advertising. An outdoor campaign will break in the next few days, while the television campaign will break before end of the year, Ms Suparna Mitra, Global Marketing Head, Titan Watches, told Business Line.
Mr Ajoy Chawla, Vice-President, Titan Watches, noted that with watch penetration amongst women in even SEC A and B segments being ‘very low,' the potential was huge. “A brand ambassador will help to make the watch a desirable accessory amongst women,” he added.
Overall wrist watch penetration in India is estimated at 30 per cent. Titan's watches division COO, Mr Harish Bhat, had told Business Line in July that low penetration among housewives was a global challenge, one that the company ‘should address.'
“Brands such as Nebula and Xylys are relatively small today. The idea is to make them really strong — articulate the defined core brand propositions powerfully to the consumer,” Mr Bhat had said.
The Swiss-made Xylys retails between Rs 10,000 and Rs 25,000. The company stakes a claim of 30 per cent CAGR for this five year old brand.
Mr Chawla said, “The market in the premium and Swiss segment is fragmented with several international brands, hence there is a strong need to sharply position our brand Xylys and target the young, contemporary global Indian.”
Ms Mitra added that a print and outdoor campaign has just been launched, while a television campaign will roll out in ‘a few months.'
Titan Industries' watch division clocked a top line of Rs 1,266 crore last year, and claims to account for 60 per cent of the Rs 3,000 crore organised watch market in the country.
While Aamir Khan is the endorser for Titan, actress Genelia D'Souza and cricketer Virat Kohli provide the action for the youth that Fastrack targets.
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