The Hindu : Business : Titan Industries joins MTV to launch trendy unisex watches

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Wednesday, Jun 22, 2005

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Business

Titan Industries joins MTV to launch trendy unisex watches

Special Correspondent

Maps out marketing strategy for sub-brands

— Photo: V. Sreenivasa Murthy

ENTICING YOUTH: The Chief Operating Officer-Watches, Titan Industries, Bijou Kurien (second from right) and the Managing Director of MTV India, Alex Kuruvilla (left), launching the Fastrack watches in Bangalore on Tuesday.

BANGALORE: With the youth segment (between 11 and 25 years of age) accounting for an annual watch sales of nearly Rs. 1,100 crore, Titan Industries is looking at a modest Rs. 50 crore this year from the sale of its re-launched Fastrack collection.

Titan Industries in association with MTV on Tuesday launched the "masala collection" — ten trendy unisex watches, all priced at Rs. 500 each.

At the launch press conference, the Chief Operating Officer (Watches), Titan Industries, Bijou Kurien, said Fastrack hoped to double its revenues to Rs. 50 crore with the launch of the new collection. This would take Fastrack's share from five per cent to nine per cent in the overall revenues of Titan. The strategy was simple — price positioning and different distribution network, away from the traditional selling points.

Mr. Kurien said Fastrack had 80 different styles in the price band of Rs. 500 to Rs. 2,000, but the "masala collection" had been pegged at Rs. 500. The points of sale would be youth hang-outs such as malls and cafes where the company planned to set up kiosks and promotional activities. The move was clear-cut as "impulse" was the driving point for purchases made by the youth. These watches have been conceptualised and designed by Titan Design studio and endorsed and promoted by MTV.

The brand also revealed a new logo which signifies the spirit of bonding among today's youth. Presenting this were two MTV VJs, Nikhil Chinnappa and Anusha. The MTV India Managing Director, Alex Kuruvilla, said this was the beginning of a venture for the two companies to keep the youth abreast of trends.

Titan had also planned extensive ad campaign during the year for the different brands of watches and jewellery. The ad spend, he said, would go up from Rs. 70 crore last year to Rs. 100 crore with watches going up from Rs. 50 crore to Rs. 70 crore and jewellery from Rs. 20 crore to Rs. 30 crore. The Titan umbrella brand had mapped out the marketing strategy for its different sub-brands — Raga (for women), Fastrack (youth) and Tommy Hilfiger (high-end), besides Sonata, the second brand of the company. These products, he said, commanded a share of 50 per cent of the organised market. Of the Rs. 1,135 crore revenue, exports were Rs. 80 crore and it was a "significantly" growing market, he said.

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