Titan: Redefining Lifestyle Excellence

Founded in 1984 as a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), Titan Company has evolved into a leader in the integrated lifestyle sector. Over the years, Titan has become synonymous with elegance, finesse, and excellence, fulfilling the aspirational needs of consumers through its renowned brands such as Tanishq, Mia, Zoya, and CaratLane. Titan’s unwavering commitment to its core values, inherited from the Tata Group, extends beyond business, contributing positively to society and the communities it serves.

The company’s growth journey is underpinned by its innovative strategies and focus on operational excellence. At the heart of this is the Turbo Programme, which aims to elevate Titan’s impact across all business touchpoints. This programme has set higher benchmarks for sustainable scale and long-term success, reflecting Titan’s desire to continuously challenge itself. The company's consistent pursuit of excellence is further validated by its strong performance over the years.

C.K. Venkataraman, Managing Director, Titan, proudly reflects on the company’s recent achievements, stating, “FY24 was yet another satisfying year for Titan. Our jewellery business continued to grow in prominence, achieving a proud milestone of Rs 40,000-plus crore in consumer sales. Together, our brands Tanishq, Mia, Zoya, and CaratLane are meaningfully innovating and offering the best variety of choices for the discerning woman of tomorrow.”

Solid Performance
Under Venkataraman's leadership, Titan’s consolidated revenue surged from Rs 21,052 crore in FY 2019-20 to Rs 51,084 crore in FY 2023-24, registering an impressive compound annual growth rate (CAGR) of 19.4 per cent. Meanwhile, the company’s consolidated Profit After Tax (PAT) grew from Rs 1,493 crore in FY 2019-20 to Rs 3,496 crore in FY 2023-24, further highlighting its financial strength and resilience.

Titan’s Jewellery Division has been the cornerstone of its impressive growth, achieving a remarkable 20 per cent increase in revenue in FY24, reaching Rs 38,352 crore. The division, spearheaded by brands like Tanishq, continues to captivate consumers with its innovative designs and exceptional craftsmanship. Its success lies in seamlessly blending modern tastes with long-standing traditions, whether through opulent bridal collections or contemporary pieces, making the jewellery segment a major contributor to Titan's overall revenue.

Equally impressive, the Watches & Wearables Division posted an 18.4 per cent rise in total income, growing from Rs 3,296 crore in FY23 to Rs 3,904 crore in FY24. This growth was fuelled by strong sales in analog watches and a booming wearables segment, which saw volumes double. The analog watch revenues alone grew by 14 per cent, driven by Titan’s premiumisation strategy that increased average price realisations. Additionally, Titan’s premium watch stores, Titan World and Helios, saw sales rise by 8 per cent and 34 per cent, respectively, underlining the success of its focus on aspirational, high-end products.

The Eyecare Division also made steady progress, achieving a 5.1 per cent revenue growth in FY24, bringing its total income to Rs 724 crore. As demand for high-quality eyewear continues to grow in both India and international markets, this division remains a crucial part of Titan’s diversified portfolio.

CaratLane, a key subsidiary of Titan, surpassed Rs 3,000 crore in revenue during FY24, a 42 per cent increase from Rs 2,169 crore in FY23. The online jewellery retailer has become an essential part of Titan’s growth, catering to younger, tech-savvy consumers with affordable yet stylish jewellery. This rapid expansion reinforces Titan’s strategic focus on digital transformation and its ability to stay ahead of emerging consumer trends.