JOIN USTitan's Bhat has a new product up his sleeve
India’s leading watchmaker Titan is on track to craft watches which are more than mere adornment to the wrists.
In an interaction with Deccan Herald, Titan’s Managing Director Bhaskar Bhat said that the use of watches exclusively as time-keeping devices has been diminishing slowly, giving definite hints of a unique watch in the making.
“On the one hand, watches are status symbols, but on the other, they are transforming into devices which communicate, measure, and inform,” he said.
Bhat said Titan is a lifestyle company looking to add range to its operational canvas, and not a technology product firm. “We will be incorporating technology in our lifestyle products. Not the other way around. So we will not make a phone,” he said
So then, will the new watch qualify as a smartwatch, like the Apple offering which is scheduled to ship by April this year? Bhat would only say that it’s too early to comment, and refused to divulge details about the project’s technology partner. But he did open his mind on how he saw watches evolving.
According to him, “The great feature of a watch is that it never gets off your wrist. We want to help locate things like misplaced mobilephones. So here we want to bring in convenience to consumers,” he said.
A water-proof watch can help the owner on a swim by letting him know that a call is waiting. Watches in future will also help provide health indicators.
It may even open and close of your car, Bhat said, pointing out the possibilities. He, however, refused to confirm if any of these elements would find their way into the product. The Titan chief would only say that the company is progressing well on the project.
For the third quarter, the watch division posted a 2 per cent revenue decline (4 per cent volume decline) due to weak festive season sales and higher promotion activity in ecommerce.
Accessories division
The company, which is operating in three main categories — watches, jewellery and eyewear — has of late added bags, belts, wallets, helmets and fragrances to its new accessories division.
“In the next five years we will add at least two-three more categories, but they will be in the lifestyle space. We are entering into new categories every eight months. Here we plan to add offerings like feature-rich clocks and products from Tata Ceramics,” he said.
“The Kochi-based entity is a separate company. We are doing marketing exclusively in India for that company. We have not acquired it but I am its chairman and Titan’s V Govind Raj has been deputed as Tata Ceramics’ MD,” he said.
The Titan chief also spoke of embracing technology extensively. “People ask, Samsung has a got a smartwatch. What are you doing about it? We are working on it and eventually will get there. Eventually! Yes, we will come up with our technology response within the next six to eight months. Not just in watches. Starting with watches, let us say,” Bhat said .