Monday, 14th November 2005 (4116 views)

Indian watch manufacturer Titan says the popularity of its new range of two-tone gold and steel watches was the secret behind an impressive second quarter sales performance.

The company has been offering similar models for four years, but said the "gold-steel" range has only taken off since receiving a revamp earlier this year.

Total sales boomed by over a fifth (22 per cent) on the previous quarter to Rs 348.8 crore, a rise Titan's business head Ajoy Chawla attributed to the new range.

Mr Chawla told the Business Standard that the two-tone watches - a hit with discerning customers seeking a classy alternative to all-gold models - now generate 15 per cent of Titan's sales.

As well as initiating an advertising push, the company launched the range in a "his and hers"-style gift set in order to appeal to the Indian wedding market.

"Since these watches are slightly dressy, this has been the peak time for a collection like this, with first the festival time and then the wedding season," said Mr Chawla.

Titan was established in 1984 as a joint venture between Tata Group and Tamil Nadu Industrial Development.

In October it cut the ribbon on its 179th showroom, in Dimapur, Nagaland.

 

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