Friday, 1 August 2014

Titan Industries is now Titan Company Limited

today unveiled its new corporate identity by rechristening itself as Titan Company Limited.

It will also make foray into helmet and fragrances sector this year. The city-based company that manufactures and retails watches, jewellery and eyewear, also unveiled its new logo 'Titan Star'.

"We have 120 million customers, whose life we have touched with our products; ...From a watch maker to a watch maker and jeweller, now to a lifestyle company which has largest specialty retail footprint in this country- Titan watches became Titan Industries and now Titan Company Limited," Titan Company Limited MD told reporters here.

"We wanted to create a strong platform and identity for the company to help us communicate effectively with our many stakeholders. To achieve this objective and more closely reflect the lifestyle segment we operate in, we have changed the name to Titan Company," he added.

Speaking on the product portfolio that the company has to offer, he said, "accessories that include belt, bag, wallet is going to be a big business as we go forward."

Bhat said: "With an intention to bring in expertise of transparency, quality and organisational professionalism to un-organised, under-served and under-penetrated categories, we are exploring helmet and fragrance category."

"There are many we are exploring, only those we find we can create value through the core-competence that company has, we will enter," he added.

Titan Q1 net down 2.85% at Rs 177.27 crore

Titan Company Ltd today reported 2.85 per cent decline in net profit at Rs 177.27 crore for the first quarter ended June 30, 2014, due to lower jewellery sales. 

The company had reported net profit of Rs 182.48 crore in the corresponding quarter a year ago. 

Titan's net sales were at Rs 2,853.66 crore during Q1, 2014-15, down 7.58 per cent as against Rs 3,087.79 crore in the year-ago period. 

"As expected the sales income for the company in Q1 dropped by 7.6 per cent largely on account of an unprecedented Q1 of 2013-14 which had witnessed a 47 per cent growth in the jewellery business last year when gold prices fell sharply," Titan said in statement.