Titan has achieved a compounded annual growth rate (CAGR) of approximately 16% over the last four to five years, with a focus on the mid-premium analogue market (₹10,000 to ₹25,000) and the premium segment (₹25,000 to ₹1 lakh) to fuel its growth, Titan Watch Division CEO Kuruvilla Markose shared with PTI.
Capitalising on the trend towards premiumisation and the resurgence of analogue watches, Titan is expanding its Helios network and introducing the new Helios Luxe format, as the demand for luxury watches in India continues to grow. He noted,
“Premium and luxury segments are set to grow rapidly, potentially exceeding 30%.” With supportive factors like an expanding economy, increasing personal income, and a large aspirational millennial demographic, Titan is “very positive about India (watch). The premium and luxury markets will expand swiftly,” Markose stated.
Currently, Titan operates approximately 282 Helios stores. “We have opened 5 Helios Luxe outlets so far and aim to open 20 more by the end of FY26 and 40 by FY27, continuing our expansion. Overall, we are present in around 500 towns and see opportunities for further Helios growth where premium demand is evident,” he added.
Watches priced above ₹1 lakh fall into the luxury category, which is segmented into accessible, aspirational, and absolute luxury, available through Helios and Helios Luxe outlets.
“From FY25 to FY26, sales from the premium segment have more than doubled. Brands like Titan, Edge, and various international options are experiencing rapid growth in the above ₹25,000 range,” Markose mentioned.
In FY2024-25, Titan’s ‘Watch & Wearable’ division recorded revenues of ₹4,576 crore, achieving over 17% growth, which the company describes as a “defining year”.
Regarding anticipated growth in the current fiscal year, he said: “We’ve maintained a 16% CAGR for the past 4-5 years, and we don’t foresee any changes. Our published performance up until Q2 has been consistent with this trajectory, growing by 16 to 17% over the last year.”
When questioned about the timeline for Titan’s ’Watch & Wearable’ division to reach $1 billion in sales, Markose stated: “From a consumer price perspective, we expect to exceed a billion dollars next year (FY’27). Net sales might require an additional year.”
Moreover, Titan is also branching out into other retail formats like Titan World, Fastrack, and is present in large format stores, electronic shops for smartwatches, and various marketplaces, both in India and abroad, he added.
The mid-premium analogue segment is projected to continue its growth, as a significant portion of India’s population transitions from unbranded or informal watches to established brands, similar to the shift from two-wheelers to automobiles, he explained.
“We are very confident about India. The premium and luxury segments will grow significantly, but we will also cater to the mass and mid-premium markets. We are enhancing our capabilities in product development, retail strategies, branding, and marketing to effectively serve all segments,” said Kuruvilla Markose, who was appointed CEO of Titan’s watch division earlier this July.
Titan, a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO), a governmental entity, will continue investing in “modernisation, capability enhancement, and horology”.
“At higher price points, the quality of movement and complications become increasingly important. We have developed in-house automatic movements, including India’s first wandering hour. Our investment strategy will continue to combine in-house development, local innovation, and global partnerships,” Markose added.
On the performance of analogue versus smartwatches, he noted that traditional analogue watches are currently experiencing more rapid growth compared to digital models.
Nevertheless, he also remarked: “We believe smartwatches are here to stay, evolving from a novelty item to one focused on functional value related to fitness, health, and productivity. Research indicates that approximately 20% of consumers opt for a smartwatch in addition to an analogue watch, and around 30% purchase both simultaneously.” Markose did not disclose the revenue breakdown between analogue and digital segments for Titan.
When asked about Titan’s international operations in the watch sector, he stated, “We are present in over 25 countries, operating around 75 exclusive brand outlets and over 1,500 multi-brand locations. Additionally, we manage 10+ country-specific international websites and are available on over 40 global online marketplaces.”
