Watch out ! Titan gets a Xylys
Daily News & Analysis — February 22, 2006

Here's some good news for watch aficionados, who are tired of old daddies like Tissot, Rado, Esprit and Christian Dior. Titan Industries has entered the premium end of the wristwatch segment with the launch of Xylys. Bhaskar Bhat, managing director of Titan, said, "This launch is one of the most significant for the company as Xylys addresses the discerning globalised customer. We have placed the brand at the uppermost end of the market."

With Xylys, the company is eyeing at least 10% share of the premium watch market over the next 12 months, which is growing at 20% annually. The Rs 250-crore market for premium watches operates in the price band of Rs 10,000-Rs 40,000 and till now has boasted of European (mainly Swiss) brands. With Titan's entry into the niche market, the consumer can expect more choice in Indian products. While parts for Xylys will be sourced from around the world, the final product will be manufactured in Switzerland and then imported back to India.

The Xylys range comprises 60 models and will be available at select Titan World showrooms, key multi-brand outlets and at exclusive flagship boutiques in select cities. Initially, the brand will be available in Mumbai, Bangalore, Hyderabad and Delhi and would be launched in five more cities by July. In fact, the Rs 1,100 crore Titan Industries has adopted a two-pronged strategy for growth.

Not only has the company chosen to enter the premium end of the wrist watch market on its own, it is also scouting for tie ups to bring well known international watch brands to India. Titan already distributes Tommy Hilfiger watches and is negotiating with two other well-known global brands to bring them to India. The company is also expanding its global footprint.