Analog watches are cool again - and Titan bet on premium models

Copyright © HT Digital Streams Limit all rights reserved. Kuruvilla Markose, CEO of Titan’s Watch Division. Summary While the SmartWatch -hype fades, Titan is raising helios -luxurious stores, betting on Premium Analog Watch Lansies, and overseas expansion Mumbai: Titan Co. Ltd, India’s watch and jewelry giant, is utilized in a revival in analog watches, while SmartWatches cool off. The company plans to expand its helios -luxurious retail footprint and grow selectively overseas, including Indonesia. Industry analysts say the revival of analogs is a market-wide trend, which enhances competition from domestic counterparts and Swiss imports-which Titan promotes to distinguish through premium brands, international partnerships and clear introductions of the product. Kuruvilla Markose, recently appointed CEO, OffiCr (CEO) of Titan’s Watch Division, said the focus would be on premium watches, smart watches and international markets. “Our main line analog business is on a role -it is doing very well. My mandate is to focus on the newer parts of the business, premium and smart watches, along with raising the International Affairs section,” he told Mint. Titan’s Watches & Wearables Division had a jump of 17% in fiscal 2025 income to £ 4.576 crore, which was a ‘defining’ year for the business. Growth has been powered by a backlash in analogy watches to a phase of heavy smart watch purchases, along with bonds with international brands and internal launch. SmartWatch -question, after explosive growth in 2022-23, has calmed down. According to IDC, India’s carrying devices market in H1 2025 dropped 6.3% annually and reached 51.6 million units. “Most of our volumes still come from analog. Smart watches decreased for us and the industry last year, although our declines were less steep,” says Markose. Analog watches grew by 20% for a year-on-year (Yoy), increasing the market share in multi-brand channels. Titan unveiled his ultraslim collection – among the world’s thinnest watches – at £ 75,000. “Gift is back in a big way, especially at higher price points. Analog watches are benefiting from the overall premier today,” Markose added. Historically, Titan’s analog business faced challenges: FY18 revenue grew just 3.5% years to £ 2,126, and pandemic disruption led to a 40% drop in FY21 sales to £ 1,587 crore. The company then returned, aided by ‘revenge consumption’, and has since stabilized with a double-digit growth of 17.2% year-on-year in FY25. The company did not disclose a detailed split between analog and smart watch income or the exact decline in smart watch sales. Titan added 139 new stores in FY25 over the Titan World, Helios and Fastrack, taking the total store score under the division to 1.235. In the home watching brands, Sonata, Titan, Nebula, Edge and Xyllys include multi-brand outlets of third parties. Premiumization on the rise marks indicates a very clear premium trend in watches in the domestic markets. Contribution of products priced over £ 25,000 has doubled in sales, reflecting the increasing willingness among wealthy consumers to spend on aspiration goods, he said. India imported Swiss watches worth 273.9 million CHF (approximately £ 2,700 crore) into 2024, with 25% higher than 2023, highlighting the increasing demand. Titan expands its international brand offers in the £ 50,000-2.5 Lakh series, including U-Biot, Charriol and Herbelin, through Helios and Helios Luxe stores. Helios already sells brands such as Micheal Kors, Just Cavalli, Versace and Tissot, among others. Currently, five Luxe stores work, with plans to expand to five or six per large city. The company will continue to bring international brands to its retail network, he said. In fact, the export of Swiss hours to India rose by more than 10% annually in the first five months of 2025, Mint reported earlier. The growth momentum is likely to continue with an imminent free trade agreement between the European Free Trade Association and India that could reduce prices for imported watches. Titan competes with the like the stock market listed by Ethos Watch Boutique, a high-end watch retailer. The company is the fifth largest watch manufacturer in the world and one of the best-selling watch brands in India. Overseas plans Markose previously led to the head of Titan’s international division, oversees the overseas expansion of both watches and jewelry. The company recently restructured overseas operations by bringing international business functions to the various division executives, moving away from the earlier model that was solely run by Markose. Titan currently has more than 65 exclusive brands abroad, and Titan watches are sold internationally in about 1,500 doors. “We started as an export-led watch business in the 2000s and worked with distributors. Now we have our own shops and we have our own business in the Middle East and North America,” he said. It has also cut its presence in export markets over the years. “We were present in some 40 countries via distributors; we brought it to 25. We want to go deeper into fewer countries. We are now investigating Indonesia,” he added. Overseas markets are large watch and spectacle markets, he said, emphasizing the company’s plans to utilize abroad abroad. Titan recently announced the acquisition of a 67% stake in the Damas jewelery business in the GCC region -which has wrapped its presence in countries such as the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. “The market opportunity is simply big, and it would be foolish to ignore it,” he added. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Titan Co #Business News Read Next Story