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Our Vision - BaselWorld 2018

Time and Tide

Titan

WATCH TALK WITH SUPARNA MITRA, CMO, TITAN WATCHES


What are your views on the current economic scenario in the post GST and post demonetisation market? Do you feel there is an ease of doing business?

From a macro-economic perspective, GST augurs well for the economy and also for the company. Unifying an array of indirect taxes has improved the ease of doing business, barring minor implementation hiccups faced in the transition phase. We are now in the phase of reaping the benefits of the new GST regime and ensuring an overall tax compliance in our competitive ecosystem has been an added benefit for Titan Company.

Can you talk about the brand’s performance in the last financial year?

The last year has been an encouraging year for us. Our brands have met with a resounding success in the market, consistent investments in building brands and introducing new brands and products has paid ample dividend. We witnessed healthy growths in 17-18, changes in the GST taxation slab has also improved our profitability.

What is the latest evolution in Juxt?

The market has responded extremely positively to our foray into the wearables space. The first edition of the Juxt watch was a smartwatch with an analogue build. The second evolution, the Juxt Pro, featured a completely digital offering as Titan’s first fully touchscreen smartwatch. In the last year, we have also launched Titan We, a smart watch designed especially for women. The Fastrack Reflex tracker has also been well received by the youth. We will have a significant play in the wearables space for all our brands, catering to several segments. You will see several exciting offerings coming up this year.

What are the new launches you would like to talk about?

We have a stupendous line-up in all our watch brands. As I mentioned, we will have a significant play in the wearables space as well. We have world-class products, unsurpassed quality, meaningful brands, cutting-edge design and an extensive distribution network as our core competencies. All of this will translate, once again, to a stellar line-up for the coming year.

What are your observations of the effectiveness of e-retail versus store-sales?

Both go hand in hand for us. As a market leader with a dominant retail and trade presence, distribution is our strength. We endeavour to be present at every touchpoint where the consumer seeks us, and will actively build synergies between all our channels.

Do you feel that the e-retail increases the problem of fake watches?

Surely not! E-commerce gives us another touchpoint to inform the consumer about product authenticity. In several ways, everything is also more measurable and traceable on the platform. All in all, we believe that any innovation that improves our consumer’s lives is a place we would want to be. Moreover, to protect the interests of our consumers and tackle counterfeit products, we have launched a company-wide initiative called ‘Project Squash’. Project Squash aims to counter fakes from source to marketplace, take measures to enable consumers to identify genuine products at the time of purchase and disrupt the supply chain of counterfeit manufacturing, distribution and retail.

This project will take a comprehensive look at the entire counterfeiting ecosystem and understand the extent of counterfeiting by product, brands and geographies.

The complete interview is in Hours & Minutes on pg no. 16 in the BaselWorld 2018 - A Special Report.