Titan Company is planning to enter into the high-end technology watch market with its own range by the third quarter of FY16. The company had set up a dedicated team in Switzerland to produce these watches. ‘Wearable tech’ is the latest buzzword in the technology space, where computing has been weaved into everyday life.
Titan’s impending foray comes at a time when sales growth of its watches division, contributing 16% of annual revenues, has softened in the past few years. From about 20% in FY12, this metric has slowed to levels of about 7% in FY15 (in FY13, sales growth was 9%).
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.