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<ul><li><keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> has partnered with country’s largest lender <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) to introduce Titan Pay, a watch that will enable contactless payments.</li><li>With this launch, SBI account holders can tap their Titan Pay watch on <keyword id="2438417" type="PERSON" weightage="20" keywordseo="contactless-payment">contactless payment</keyword> POS machine without the need of swiping or inserting their SBI bank card. </li><li>Payments of up to Rs 2000 can be made without entering a PIN.</li></ul><br />The new normal has enforced upon an urgent need to bring about innovative &amp; safer purchase solutions in the retail space. The fifth largest watch brand in the world, Titan Company Limited has partnered with country’s largest lender State Bank of India (SBI) to introduce Titan Pay powered by <keyword id="7668181" type="UNKNOWN" weightage="20" keywordseo="Yono-Sbi">YONO SBI</keyword>.<br /><br />Through this partnership, Titan and SBI are launching a range of stylish new watches with contactless payment functionality for the first time in India. With this launch, SBI account holders can tap their Titan Pay watch on contactless payment POS machine without the need of swiping or inserting their SBI bank card. Payments of up to<br />INR 2000 can be made without entering a PIN. A secure certified Near-Field Communication (NFC) chip embedded in the watch strap by Tappy Technologies enables all the functionalities of a standard contactless SBI debit card.<br /><br />The payment feature on these watches will be accessible on over 2 million contactless MasterCard-enabled Point-of-Sale (POS) machines in the country. This exclusive collection of elegant watches include 3 styles for men and 2 for women and are attractively priced between Rs 2995 and Rs 5995 to make it widely accessible to all SBI and Titan<br />consumers.<br /><br />Speaking on the occasion, <keyword id="737485" type="PERSON" weightage="20" keywordseo="C-K-Venkataraman">C K Venkataraman</keyword>, Managing Director, Titan Company Limited said, “Titan has always been at the pinnacle of design and innovation. We have always launched products to cater to the changing needs of our consumers. SBI is the perfect partner to introduce a payment solution for the new normal that is fast, secure<br />and seamless. This product will not only satisfy the consumer’s banking needs but will also serve today’s evolving consumers with its classic and sophisticated designs.”<br /><br />Sharing his thoughts on the association, <keyword id="254056" type="PERSON" weightage="20" keywordseo="Rajnish-Kumar">Rajnish Kumar</keyword>, Chairman, SBI said, “We are glad to be a part of the launch of this unique proposition in the contactless payments space by Titan. It gives me immense pleasure to join hands with one of the world’s 5th largest watch manufacturer, to provide a smart and innovative shopping solution for our YONO customers with <keyword id="9949594" type="COMPANY" weightage="20" keywordseo="titan-payment-watches">Titan Payment Watches</keyword>. We believe this innovative offering will redefine the shopping experience for our customers with Tap &amp; Pay technology. With latest technological advancements, State Bank of India has always been striving towards providing innovative, best-in-class banking services for our customers”.<br /><br />Titan Company has always been at the centre of innovation and believes in harnessing technology for convenience and ease of the users. These watches address the needs of the new normal by eliminating payment barriers and making transactions quick, contactless, secure, and easy for consumers. Through constant investment in technology and design, Titan aims to continue advancing the products and offerings for the consumers in the smart segment.<br />

Titan Company partners with SBI to launch watches that will help you make contactless payments

Tata Group-led <keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> on Thursday announced to exit its joint venture with German luxury brand Montblanc.<br /><br />The development is in line with Titan's strategy to focus on its primary business and proprietary brands, the company said in a regulatory filing.<br /><br />As per the joint venture agreement, the partnership will end in December 2020.<br /><br />"In line with the company's strategy to focus on its primary business and proprietary brands, and as mutually agreed with Montblanc, the company would be divesting its stake in the JV company and accordingly the requisite formalities will be completed in December 2020," Titan said in a regulatory filing.<br /><br />The India joint venture of Montblanc was formed by establishing <keyword id="10072712" type="COMPANY" weightage="20" keywordseo="montblanc-india-retail-pvt-ltd">Montblanc India Retail Pvt Ltd</keyword> (joint venture) in 2014, in which Titan holds 49 per cent stake.<br /><br />Post the end of the joint venture Montblanc to continue its expansion strategy as wholly owned subsidiary in India.<br /><br />C.K. Venkataraman, Managing Director of <keyword id="2028078" type="COMPANY" weightage="20" keywordseo="Titan-Company-Limited">Titan Company Limited</keyword>, said: "We have decided that during these rather challenging times our primary business musttake precedence. Both parties have greatly benefitted from this partnership,and our relationship with Montblanc remains strong and positive."<br /><br />Nicolas Baretzki, CEO of <keyword id="2644418" type="COMPANY" weightage="20" keywordseo="Montblanc-International">Montblanc International</keyword>, said: "We are grateful for our partnership with Titan - it is one that has allowed us to establish Montblanc as a luxury Maison with significant presence in India today, and set us on course for the next chapter of our journey. This is a market that holds strong long-term potential for Montblanc, and it is a mark of confidence that we now become a wholly owned subsidiary."<br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/infosys-to-acquire-us-based-data-analytics-company-for-125-million-deal-expected-to-close-in-third-quarter/articleshow/78551010.cms" data-type="tilCustomLink">Infosys to acquire US-based data analytics company for $125 million — deal expected to close in third quarter</a><br /><br /></strong><a href="https://www.businessinsider.in/india/news/here-are-the-guidelines-issued-by-the-dgca-for-the-refund-of-airline-tickets-booked-during-the-lockdown-period/articleshow/78547292.cms" data-type="tilCustomLink"><strong>Here are the guidelines for refund of airline tickets booked during the lockdown period issued by the DGCA</strong></a><br />

Titan exits joint venture with German luxury brand Montblanc in India

New Delhi, Jul 15 () Watch and jewellery maker Titan Company is expecting its businesses to be hit "very substantially" in the current financial year due to disruptions caused by COVID-19 pandemic. <p>The company said its focus during 2020-21 will be on cash flows and optimising spends to ensure liquidity. </p><p>"The lockdown necessitated by the COVID-19 pandemic is expected to hit the company's businesses very substantially in the financial year 2020-21. The company expects the economy to shrink, and tight regulations on operations of stores to continue for some time. </p><p>"Customers can also be expected to be wary of stepping out of their homes for some time. With job losses expected to increase substantially and salaries expected to fall or stay flat at best, spends on discretionary products could get affected more," Titan said in its annual report for 2019-20. </p><p>However, the company said it also expects customers to spend relatively more on jewellery compared to other discretionary spends as gold jewellery continues to be a valuable store of value. </p><p>"The focus therefore for financial year 2020-21 will be on cash flows and optimise spends. The company has therefore already begun a 'war on waste' programme to identify all costs that can be cut under the circumstances and ensuring adequate liquidity is available to run the businesses efficiently and also leveraging the company's strong balance sheet to seize opportunities that may present itself during the year will be key focus areas," the company added. </p><p>Titan Company Managing Director C K Venkataraman said since most of its products are in the discretionary and in the 'touch-and-feel' category, sales are likely to be under additional pressure during this period of uncertainty. </p><p>"We have implemented stringent safety measures across all our stores, which will help us in reassuring our customers and moving much faster towards normalcy. We are also accelerating our omni-channel marketing strategy with a renewed focus on e-commerce as customers look to increasingly shop online. </p><p>"We also remain focussed on driving relevant product innovations across our different businesses to capture mind and market share. To explain further, in the jewellery division, we are working extensively on creating a strong product portfolio at affordable price points," he said. </p><p>Venkataraman said following the outbreak of the pandemic, the perception of gold as an asset class has improved considerably. </p><p>"Large scale weddings and international holiday travels are expected to reduce, freeing up funds for jewellery purchase. We may also witness a spree of 'indulgence consumption' after the lockdown is lifted and the situation is near-normal, opening up growth prospects for our products in the category of watches and fragrances. Titan is staying prepared to seize this expected demand,"he added. </p>Tata group firm Titan Company's revenue from operations grew to Rs 20,010 crore in 2019-20, up 4.9 per cent from Rs 19,070 crore in 2018-19. Its profit after tax was up by 10.4 per cent at Rs 1,518 crore in 2019-20 compared to Rs 1,374 crore in 2018-19. SVK MR

Titan expects businesses to be hit 'very substantially' due to COVID-19

<ul><li>Titan's share price plummets 4% after it reported a net loss of ₹270 crores. </li><li>The company’s overall revenue declined almost 74% year-on-year to ₹1,251 crore.</li><li>Titan expects to return to “normalcy by the fourth quarter of this year”.</li><li>The jewellery maker Titan's shares are down nearly 10% from pre-COVID levels. </li></ul>India’s country’s top fashion accessories maker, Titan’s share price was down nearly 4% after the company reported a net loss of ₹270 crores as its business took a major hit due to the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic. This is the first-ever quarterly loss in over 16 years. <br />          <div type="image" title="Titan profit (2)" msid="77463588" hostid="261"></div><br />Almost all of its segment from watches and jewellery to eyewear reported loss in the past quarter leading to an overall revenue declined almost 74% year-on-year to ₹1,251 crore.<br /><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment<br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Watches<br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-90%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jewellery<br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-56%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eyewear<br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-80%<br /><br /></td></tr></tbody></table><br />"The severity of the disruption in business due to the pandemic impacted the Company's performance resulting in an unprecedented loss for the company. The company's reassessment of its cost structure during this period and inherently strong Balance Sheet, will help it to create a stronger base for a sustainably higher profit margin business,” said C K Venkataraman, managing director, Titan. <br /><br />Along with the lost sales due to postponed weddings and less discretionary spending— <keyword id="752310" type="PERSON" weightage="20" keywordseo="high-gold-prices">high gold prices</keyword> has added to the jewellery makers’ woes. Recently, gold futures have been trading at an all-time high of ₹57,500.<br /><br />Any other year, this period would have been one of the best quarters for Titan. Traditionally, the wedding season in these months ensures solid demand for jewellery. Festive season adds to the jewellery sales as well. But COVID-19 has turned consumers cautious and there has been a fall in spending, especially with high-value items. <br /><strong>Sales breakup:<br /></strong>                <div type="image" title="titan 1" msid="77454990" hostid="261"></div><br /><strong>Sales to remain muted for the first-half<br /></strong><br />But it’s not just sales from the wedding business that the company stands to lose. Going ahead, fewer people will care to buy jewellery. According to Prabhudas Lilladher, the sales of the jewellery maker is expected to remain muted until the third quarter. The liquidity crunch due to coronavirus will impact gold demand post lockdown, and many people will sell their existing jewellery— which may widen the gap between buying and selling price. <br /><br />Even the top management itself said that “we expect to get back to normalcy by the fourth quarter of this year.”<br /><br />And, that is the reason the share price hasn’t seen a rally in the past three months. The shares gained only about 15% since the beginning of the last quarter and are down nearly 10% from the pre-COVID levels. <br />                <div type="image" title="Copy of Titan Share price" msid="77455009" hostid="261"></div><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/check-out-the-list-of-top-stocks-to-buy-for-investors-with-aggressive-risk-appetites-according-to-iifl/articleshow/77431570.cms" data-type="tilCustomLink">If you have a high risk tolerance — here are a few ‘aggressive’ investment bets to consider</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/are-you-a-conservative-investor-heres-a-list-of-some-investment-bets-for-you/articleshow/77442831.cms" data-type="tilCustomLink">Are you a conservative investor? Here’s a list of some investment bets for you</a></strong>

Titan cracks 4% after it posted its first quarterly loss in over 16 years

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://www.gettyimages.com/photos/james-gorman?family=editorial&amp;phrase=james%20gorman&amp;sort=best&amp;excludenudity=true#license">Neilson Barnard/Getty Images</a></span></p><p class="caption">Morgan Stanley CEO James Gorman.</p></div><p></p></div></div>Morgan Stanley recently promoted 140 people to managing director, and now we have the full list of names.</p><p>This year's list is shorter than last year's, when <a href="http://www.businessinsider.com/morgan-stanley-managing-directors-2016-1">156 people were named managing director</a><span>.</span></p><p>About 29% of the new MD intake is female, according to one person familiar with the matter, the highest percentage on record. In 2016, 21% of the new MDs were women.</p><p>Morgan Stanley last Tuesday <a href="http://www.businessinsider.com/morgan-stanley-q4-2016-earnings-2017-1">reported fourth-quarter earnings</a> that beat expectations. </p><div title="Page 1"><ul><li>Aida Abou-Rahme</li><li>Irina Adler</li><li>Eric Alby</li><li>Jessica Alsford</li><li>Trevor Anderson</li><li>Kow Atta-Mensah</li><li>Geoffrey Boulter</li><li>James Bruno</li><li>Rick Bruno</li><li>Alex Brunton</li><li>John J. Burns Jr.</li><li>Arthur Carvalho</li><li>Amit Chahal</li><li>Brad Chandler</li><li>Tony Charles</li><li>Carrie Chen</li><li>Tao Chen</li><li>Sok-Theng Cheng</li><li>Andrew Kwanghi Cho</li><li>Kate Claassen</li><li>Richard Class</li><li>Katherine Clune</li><li>Lindsey B. Coleman</li><li>Maura Coolican</li><li>Paul d'Arcy</li><li>Aditya Damodaran</li><li>Catherine Davidson</li><li>Mary Claire Delaney</li><li>Maureen Devas</li><li>Vinay Dhanuka</li><li>Jie Ding</li><li>Gareth Dittmer</li><li>Mikko Einio</li><li>Oliver Farrant</li><li>Tara A. Favors</li><li>Duncan Foster</li><li>Matthew Franks</li><li>Al Furman</li><li>Manuel Garcia-Diez</li><li>Lin Geng</li><li>Tara Giannone</li><li>Kelvin Goh</li><li>Juan Gonzalez Pedrol</li><li>Jason Paul Greenberg</li><li>Lokesh Gupta</li><li>Goli Habbas</li><li>Jessica Hainey</li><li>Darren Hilder</li><li>Margot Hill Kirby</li><li>Josh Hooker</li><li>Jimmy Huang</li><li>Michael Hufton</li><li>Sheri Imperiali</li><li>Lincoln Isetta</li><li>Stella Jaeger</li><li>Ian Jelbert</li><li>Keisuke Jo</li><li>Harold Joanknecht</li><li>Rene Jocelyn</li><li>Gareth D. John</li><li>Kevin Jones</li><li>Robert Josevski</li><li>Matthew Kaitz</li><li>Amanda L. Kan</li><li>Jitania Kandhari</li><li>Jamie Kemp</li><li>Usman S. Khan</li><li>Amir Khandani</li><li>Pankaj Khandelwal</li><li>Brett K. Klein</li><li>Justin Kotzin</li><li>Sonney Lalwani</li><li>Nicolas Levi</li><li>Eileen Levy</li><li>Michael Maag</li><li>Anne Mackle</li><li>Ashley M. MacNeill</li><li>Lily Mahdavi</li><li>Michael Maii</li><li>Lisa B. Manganello</li><li>Espen Marthinussen</li><li>Yoshiro Matsuoka</li><li>Peter Mattson</li><li>Darren McCarley</li><li>Nirav Mehta</li><li>Kate Mozzicarelli</li><li>Kevin P. O'Connor</li><li>Rob O'Donoghue</li><li>Amy C. Oldenburg</li><li>Anchal Pachnanda Thakral</li><li>Robert C. Patterson</li><li>Tevfik Peker</li><li>Mina Pell Mitby</li><li>Dean A. Pinto</li><li>Stephen Pratola</li><li>Marika Pritchett-Casey</li><li>Emma Prophet</li><li>Frédéric Proust</li><li>James Prussak</li><li>Ned Quinn</li><li>Vimal Rajamanur</li><li>Karan Rekhi</li><li>David Lawrence Richards</li><li>Sandra L. Richards</li><li>Tyler J. Rindler</li><li>Ryan Robinson</li><li>Emiliano Román</li><li>David Rosen</li><li>David Rowland</li><li>Jay Rubenstein</li><li>Samantha Schoen</li><li>Leslie A. Scott</li><li>Amar Shah</li><li>Alison Sharpe</li><li>Adam Shaw</li><li>Satish Shikhare</li><li>Bhavin Shukla</li><li>Giuseppe Sica</li><li>Francis Smith</li><li>Gary Spreadbury</li><li>Steven M. Strasser</li><li>Hidehiko Suefuji</li><li>Hironori Sugimoto</li><li>Deyi Tan</li><li>Nicholas Tatlow</li><li>Christopher J. G.</li><li>Taylor Lian Thurlow</li><li>Thomas Thurner</li><li>Joseph Toledano</li><li>Jonathan Trup</li><li>William Tsang</li><li>Dennis Tsesarsky</li><li>Daisuke Tsuyuki</li><li>Dan Vanden Boom</li><li>Deepta Venkataraman</li><li>Brian Walker</li><li>Cliff Wall</li><li>Harry Woods</li><li>Andy Wu</li><li>Kristin Zimmerman </li></ul></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/harvard-economist-rogoff-optimistic-about-economy-under-president-trump-2017-1">Harvard economist Rogoff explains why he is so optimistic about the economy under President Trump</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="s0eGcyOTE6sSPhSvnpDjLRHCIFmUUvlc" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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Titan Company partners with SBI to launch watches that will help you make contactless payments

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Titan exits joint venture with German luxury brand Montblanc in India

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Titan expects businesses to be hit 'very substantially' due to COVID-19

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Titan cracks 4% after it posted its first quarterly loss in over 16 years

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Here are all the people who just made managing director at Morgan Stanley

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