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<ul><li>In our latest series, we talk to brands about how they have been marketing during these adverse times, the things they have learnt and how they are preparing for the somewhat uncertain future.</li><li><keyword id="9451504" type="PERSON" weightage="20" keywordseo="ranjani-krishnaswamy">Ranjani Krishnaswamy</keyword>, General Manager - Marketing, Jewellery Division, <keyword id="2028078" type="COMPANY" weightage="20" keywordseo="Titan-Company-Limited">Titan Company Limited</keyword> believes that the future of retail and jewellery industry is secure.</li><li>She shared with us a few consumer shopping trends that point towards an optimistic growth pattern, Titan Jewellery’s unlocking plan and larger marketing strategy. </li></ul>One would assume that the pandemic has pushed consumers to prioritise food, home and shelter. However, the kind of response Titan Jewellery has seen from its audience during the lockdown proves that they are becoming more organised and want to be prepared in every field. With the volatility caused by COVID-led lockdown in the share market, consumers are turning to buy and invest in the yellow metal. Audience from metro cities, Tier I and Tier II are open to planning their long-term investments and are buying <keyword id="6379337" type="UNKNOWN" weightage="20" keywordseo="gold-jewellery">gold jewellery</keyword> to secure their future. As a result, Titan Jewellery saw 1 million visitors on its website, hinting that the market is slowly picking up its tide. To meet this demand from consumers, Titan decided to open 90% of its stores in India. The jewellery giant also upped its digital game by introducing video calling features, providing live assistance to consumers, facilitating appointment-based purchases and launching digital campaigns to help its consumers adjust to the new normal and address their queries phygitally. We further caught up with Ranjani Krishnaswamy, General Manager - Marketing, Jewellery Division, <keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> Limited, who is optimistic about retail and jewellery industry’s future, to understand what else the brand has in its stores for the unlocking period, a few lessons the team has learnt during the lockdown and future of retail shopping in India. Excerpts: Q. Tell us a bit about your latest campaign. What is the idea behind it? How difficult was it to execute it considering the restrictions? As a responsible brand, Tanishq believes that every little act of kindness and support is a blessing earned. This campaign brings to life the concept of blessed gold which is fondly called Dua Ka Sona. The thought of crafting a campaign relevant to the current pandemic is based on empathy as an emotion. We are not just in the business of selling jewellery but we believe in valuing the craft and craftsman equally. It’s only when our Karigars thrive, we as a business will be purposeful and wholesome in its true sense. Through this campaign, we have attempted to showcase how our efforts during this pandemic translated into blessings. Dua Ka Sona 2.0 showcases the ethical, responsible and sustainable business practices employed by the brand since its inception. With an honest attempt to give back to the society, the brand has taken sincere and proactive steps to uplift and support the lives of karigars and help them deal with the effects of covid. Understanding and quickly nurturing the needs of the Karigars and community at large, Tanishq walked the complete mile to help more than 20,000 families in every way possible. From supplying essentials and medicines to the elderly, from providing food to over 15000 karigars and migrants to arranging special financial aid, from virtual up-skilling and vocational training to enable karigars to further polish their skill sets and strict adherence to sanitize and follow safety norms is all a part of the deeper Karigar connect program which have been showcased in the campaign. As a part of the Tata group, the very fabric of goodness is ingrained in our ethos. We further extended kindness in more ways by providing essentials, PPE’s and medicines to covid warriors and communities in need, thus helping the entire value chain involved in standing together in these trying times. Given the current restrictions, it was challenging to bring together this campaign in a no travel and no shoot scenario. Having said that, we were able to achieve the right balance of emotions and acts of kindness done in the covid context by borrowing some footage from the earlier campaign. Q. How difficult was the lockdown period for Tanishq? How are your preparations for unlocking going? What are the various precautions you have taken? The lockdown was tough on all businesses but I think staying positive and keeping a focus on the changing times has helped Tanishq stay optimistic and ahead of the curve. We launched e-Akshaya Tritiya during the lockdown and received a great positive response. We had close to 1+ million visitors/browsers on our website, indicating a lot of customer interest. The ticket size online has jumped 2.5 to 3 times than our usual online average ticket size. Today almost 90% of our stores are open and Tanishq customers are at the heart of everything we do. To make jewellery shopping experience seamless for our customers we introduced new digital features like video calling, live assistance and appointment based shopping at our stores and at Tanishq.co.in. Customers have the option of getting the products delivered at their doorstep or they can choose to visit the store by booking an appointment and try out the shortlisted products. We rolled out a ‘Gold Standard’ safety ebook that reiterates company’s commitment to safety and well-being of customers and its employees at the store. It covers all staff and customer touch points, entailing numerous safety measures, including contactless shopping and strict social distancing at all times. Now that stores are open, to disinfect jewellery, Tanishq is using UV Type C Chambers, safe for all metals. Q. What has your marketing strategy been during the lockdown? Did you modify your media mix, with marketing investments getting shifted from one medium to another? The core, or sole, of the brand hasn’t changed. What obviously changed was the medium. With the changing market and consumer behaviour, largely our focus has been on enhancing our digital platforms and taking the Omni channel route for marketing. The whole strategy has been about intensifying and recognising cohorts, and to be able to talk to them through digital, through our loyalty programs, through our stores, and build a more virtual relationship with them. Q. The pandemic and the lockdown has brought with it a lot of learning. What would you say have been your major learnings from this experience so far? The current pandemic and journey that we are going through is teaching us to pause, reflect, connect and move forward with resilience and positivity. But times like these urge us to be more agile, adaptable and turn a crisis into opportunities. Being fitter, faster, and stronger will be the key to managing ourselves, our ecosystem of partners &amp; Karigars &amp; more importantly in our service to our customers. Q. The kind of communications a brand comes up with during a crisis can either help win consumer trust and endear them to the brand or work completely the other way around. How did you ensure during the last months that you stay connected with your consumers? All throughout the lockdown, we were in constant touch with our consumers to check on their well-being through empathy calls and help was mobilized with delivery of essentials and medicines to our elderly customers wherever needed! Empathy was the need of the hour and Tanishq jumped headlong into this battle with the intention of helping out wherever and however India and our extended Tanishq family needed help. A significant part of the consumer journey in jewellery has been digitised like – Video calling, Virtual try on, Live chat on our website and book an appointment. These improved our assortment on lower and middle karatage products available on the website as per consumer demand and left no stone unturned to aid our consumers make their purchases online. Q. We are sure the future of retail and jewellery industry will never be the same. How are you making sure you opt to digital media, online selling policies and physical distancing need to help your consumer? I don’t think the future looks very bleak. Shopping trends and consumer shopping trends point towards an optimistic growth pattern and it’s a positive growth. We have developed our plan based on the vision of “Fitter Faster Stronger”. Fitter means being agile and adapting to the new normal with flexibility. Faster means the speed of execution to adapt to rapidly changing consumer preferences &amp; behaviours. And stronger means to come together to reach out and help each other to build back the value chain for the jewellery industry. Digital media is one of our core platforms for consumer engagement and we have built a virtual relationship with the Tanishq community. Engagement campaigns like real golden moments, Mother's day and Jewellery cleaning posts in the last 2 months were highly engaging and gave us higher than targeted engagement percentages. Tech features like live chats and remote selling through video calls are working well for us. Our store attendants showcase the jewellery by wearing it so customers are sure of how it looks before buying it. Physical distancing has also been enabled at stores where we’ve changed layouts so not more than 1-2 customers are inside the store shopping at any given point. Safety will be key for consumers and as India’s leading only national jeweller we have created safe, tech-supported, and digitized dynamic innovative ways of shopping.

90% of Tanishq stores are now open: Ranjani Krishnaswamy, Titan Company

Watch and jewellery maker <keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> on Thursday said its January-March quarter <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">revenue</keyword> growth has been "impacted severely" following disruptions on account of Covid-19. The company said its revenue from its jewellery division declined by 5 per cent due to "lost sales" in March. It had a revenue growth of 16.5 per cent in January and February. "Consequent to the serious disruptions in operations in March, revenue growth for the quarter and consequently for the year has been impacted severely," <keyword id="6359357" type="DOMAIN" weightage="20" keywordseo="titan">Titan</keyword> said in its quarterly update. The company further said it is working out its strategy to manage this crisis with particular focus on ensuring adequate liquidity is available till normalcy returns. "Cost will be another major focus area for the company in these trying times," Titan said. The company said sales of jewels division was picking up till the disruption on account of Covid-19. The company had closed all stores from March 22, following a nation-wide lockdown announced by the government. The company further said the wedding jewellery sales were good till Covid-19 disruption. Its 'Watches &amp; Wearables' division reported a growth of one per cent, despite the significant loss of sales in the month of March. "E-commerce was the fastest growing channel for both Q4 and full year. Retail sales in Large Format Stores or LFS (Shop-in-shops) also grew well aided by valentine activation sales and new product introductions," it said. While, its eye wear division reported a decline of 20 per cent in revenue in the January-March quarter. However, its other businesses segment, which is relatively small, witnessed a strong growth of 42 per cent during the quarter over the same period last year. "In fragrances, Fastrack perfumes continue to increase its distribution reach and is now available across over 1,800 outlets and e-commerce channels. "Taneira" opened two stores during the quarter, one each in Mumbai and Bangalore, taking the total store count for the business to twelve covering five cities," it said. India is presently going through an unprecedented complete lockdown of three weeks, ending on April 14, to prevent the spread of the virus. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Titan says Covid-19 has a 'severe' impact on its Q4 revenues

The shares of <keyword id="1824765" type="General" weightage="80" keywordseo="titan-company" source="Orion">Titan Company</keyword> dropped 1.66 per cent to Rs 2,495.95 apiece in morning trade on Monday. It is likely that the firm's <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> failed to live up to Street expectations and have influenced the stock's Monday trading. The shares of the <keyword id="150620" type="General" weightage="20" keywordseo="watchmaker" source="Orion">watchmaker</keyword> had declined 2.46 per cent in a span of five days while the firm's shares declined 4.56 per cent in a period of 30 days in 2023. The <keyword id="6359357" type="General" weightage="20" keywordseo="Titan" source="Orion">Titan</keyword> Company said its sales across standalone businesses went up 12 per cent year-on-year in the third quarter of fiscal 2022-23, which is not quite up to Street expectations. The watchmaker had said on Sunday that the positive consumer sentiment helped all categories clock healthy double-digit growths despite a high base in the same period of last year, according to the company statement shared with exchanges. <keyword id="22670" type="General" weightage="20" keywordseo="Watches" source="Orion">Watches</keyword> division's 14 per cent growth year-on-year (y-o-y) was led by strong traction in the wearables space, the company said. A slew of exciting product launches in the fiscal year leading to the festive season contributed well to more than tripling sales from the wearables sub-segment in the quarter compared to same period last year, the company had said on Sunday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/india-holds-the-potential-to-build-100-adani-groups-says-gautam-adani/articleshow/96843556.cms">India holds the potential to build 100 Adani groups says Gautam Adani</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/meta-hires-vikas-purohit-as-head-of-global-business-group-in-india/articleshow/96849570.cms">Meta hires Vikas Purohit as Head of Global Business Group in India</a>

Titan shares fall as its Q3 sales fail to live up to street expectations

<ul><li>Titan revised its revenue guidance from 20% to 11-13% year-on-year. </li><li>In its Q2 earnings, Titan’s net profit rose by 2% to ₹320 crores. </li><li>But it also saw a 2% fall in standalone jewellery revenues. </li></ul>It was a muted festive season and that is reflecting in Titan’s quarterly earnings that ended in September. Its standalone jewellery revenues fell by 2%. More importantly, it cut its revenue growth forecast from 20% to 11-13% for the current fiscal. As expected, its stock fell by 10% intra-day to trade at ₹1163 at 2.25 pm after its earnings were declared yesterday evening. After the management itself lowered its outlook, most brokerages followed suit. UBS group maintained its BUY rating but at a lower price target. Meanwhile, Goldman Sachs maintained a neutral rating and also cut its price target. JP Morgan downgraded Titan to neutral. “In Q2FY20, muted consumer sentiment and sharp increases in gold prices hurt demand for jewellery. According to management, low ticket size discretionary purchase items were worst impacted. High promotions in August and September helped mitigate this somewhat with the non-discretionary wedding jewellery portfolio growing 30% year-on-year in Q2FY20,” said the UBS report. Titan reported 1.5% annual decline in profits despite actual retail growth of 7% due to maturity of hedges, added the report. In the second quarter, Titan’s net profit rose marginally by 2% to ₹320 crore.

As Gold prices rise, Titan loses sales, value and ratings

<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> 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>. 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 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. 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 consumers. 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 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.” 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”. 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.

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

<ul><li>The <keyword id="10974562" type="UNKNOWN" weightage="20" keywordseo="watches-and-wearables">Watches and Wearables</keyword> division of the <keyword id="1824765" type="DOMAIN" weightage="20" keywordseo="Titan-company">Titan Company</keyword> has been witnessing a good recovery since Q2FY21. The aim is to be able to bring back growth by Q1FY22.</li><li><keyword id="353926" type="PERSON" weightage="20" keywordseo="Suparna-Mitra">Suparna Mitra</keyword>, Chief Executive Officer, Watches and Wearables Division, at Titan Company tells us their areas of focus to bring back growth.</li></ul>The year 2020 was difficult for all of us. Businesses witnessed slowdowns and many are still on their way to recovery - slowly but steadily. However, the watches and wearables division of the Titan Company started seeing recovery from Q2 and Suparna Mitra, Chief Executive Officer, Watches and Wearables Division, at Titan Company Limited is confident that the business will enter its growth phase in Q1 FY22. Titan Company, despite being a <keyword id="10974561" type="UNKNOWN" weightage="20" keywordseo="legacy-brand">legacy brand</keyword>, has over the years, focused on innovation and creating products that are relevant to the changing consumer needs. It has listened to its consumers while crafting its products and that has helped the brand stay ahead of the curve. In its Q3 results for FY20-21, the Titan Company stated that its Watches and Wearables division witnessed around 88% recovery and things are only looking up. We recently caught up with Mitra to understand the brand’s areas of focus, to keep up with the growth momentum and here’s what she had to say: <cmsannotation type="cmsannotation" annotationid="Q)Watch is typically a non-essential category and yet in a year when people were careful about spending, you have been able to see recovery. How did you ensure consumers came back to your brand?" text="Q)Watch is typically a non-essential category and yet in a year when people were careful about spending, you have been able to see recovery. How did you ensure consumers came back to your brand?">Q)Watch is typically a non-essential category and yet in a year when people were careful about spending, you have been able to see recovery. How did you ensure consumers came back to your brand?</cmsannotation> The category witnessed a slow start to 2020. Consumer demand in fashion accessories started picking up steadily from Q2 onward, and we saw a good recovery during the festive season. We introduced a lot of new collections in the wearables space to tap into the newer consumer trends. We launched Titan Pay – the first payment watch of India, in association with State Bank of India, to cater to the growing need for contactless payments. We also launched our first full touch smartwatch – Titan Connected X, to cater to the demand for smartwatches with a contemporary stylish look, and this was very well received by the market. More recently, we launched TraQ by Titan, a performance tracking device and app targeted at thousands of people who have taken up active sports such as running, cycling and swimming. Even before the pandemic, we were seeing an increasing number of Indians take up such activities, aiming for a healthy and active lifestyle. The pandemic only accentuated this trend, with even more people adopting these activities towards fitness. We had also noticed that this segment was under-served. The options for performance tracking were limited, not widely available, and sometimes not very affordable. So we decided to create a range of performance tracking watches for the serious runner, cyclist and tri-athlete and the response to this product has been very encouraging so far. <ul></ul><cmsannotation type="cmsannotation" annotationid="Q) What were some interesting consumer trends you witnessed during the lockdown last year?" text="Q) What were some interesting consumer trends you witnessed during the lockdown last year?">Q) What were some interesting consumer trends you witnessed during the lockdown last year?</cmsannotation> While some consumers have resumed going to work, many are still operating from their homes. In our experience so far, we’ve seen a good recovery across our business and that’s largely true for the overall fashion accessories category as well. We realized that while people were locked down, they were feeling a lot of emotions towards their loved ones and all the missed milestones such as graduations, birthdays, anniversaries, new jobs, etc, that they were not able to celebrate. We used that for the Titan Gift a Smile campaign, exhorting people to reach out and thank loved ones with a gift. We also witnessed a rise in our average price points by a significant margin during this time, as gifting as a purchase trigger started working well for us. We also did a campaign called ‘Let's Get India Ticking’. It was not a watch campaign, but a category agnostic, brand agnostic campaign about getting consumption back. While WFH is a new phenomenon, and is likely to stay in some form, we see that watches as an accessory continues to see strong traction. The need for dressing up and looking good continues to be relevant and will be even stronger for festive occasions/celebrations. Watches continue to be a thoughtful and personal gift. <cmsannotation type="cmsannotation" annotationid="Q) What kind of business revival have you witnessed? Are things back to pre-COVID levels? If not, by when do you anticipate that will happen?" text="Q) What kind of business revival have you witnessed? Are things back to pre-COVID levels? If not, by when do you anticipate that will happen?">Q) What kind of business revival have you witnessed? Are things back to pre-COVID levels? If not, by when do you anticipate that will happen?</cmsannotation> The Watches and Wearables Division witnessed a recovery of 88% in Q3. We are looking at growth in Q1 FY 22. <cmsannotation type="cmsannotation" annotationid="Q) During the lockdown, the way you communicate with your consumers became critical. How did you ensure you stayed connected with your consumers?" text="Q) During the lockdown, the way you communicate with your consumers became critical. How did you ensure you stayed connected with your consumers?">Q) During the lockdown, the way you communicate with your consumers became critical. How did you ensure you stayed connected with your consumers?</cmsannotation> Our attempt was to continuously engage with the consumers through the lockdown. We conducted thousands of empathy calls to our customers across all stores in our network to check on their well-being. We also initiated several consumer engagement activities through our social media handles. We also created thoughtful campaigns around special occasions such as Mother’s Day and Father’s Day to communicate our sentiments and spread the message of hope and positivity that together, we will soonovercome these testing times. When the markets started opening up after the lockdown, gifting - which is a strong platform for watches, got an additional push as the idea of “self-gifting” became popular. Consumers were looking forward to rewarding themselves for having coped with the lockdown. They were also looking to celebrate important milestones that they had missed out on during the lockdown. The company curated “Gift a Titan Smile” initiative with an attempt to revive sales. Online has always been a big part of sales and we are doing a lot of digital <keyword id="6354839" type="UNKNOWN" weightage="20" keywordseo="marketing">marketing</keyword> activities. We are also driving a few Omni-channel initiatives such as video calling, where the store staff helps the customer select the watch they want and the sale is completed online. <cmsannotation type="cmsannotation" annotationid="Q) Consumer needs are evolving at a fast pace and Titan is a legacy brand. How do you ensure that you are in tune with these changing needs?" text="Q) Consumer needs are evolving at a fast pace and Titan is a legacy brand. How do you ensure that you are in tune with these changing needs?">Q) Consumer needs are evolving at a fast pace and Titan is a legacy brand. How do you ensure that you are in tune with these changing needs?</cmsannotation> The consumer is central to everything we do and their needs shape each and every offering we launch. We have several mechanism of capturing consumer voice. Besides formal market research, we do a lot of listening through one-on-one immersions with our loyalty program consumer base. We also use big data and analytics to predict micro trends which feeds into our communication and product plans for the upcoming seasons. We also have a process of capturing consumer feedback through our stores on regular basis. <cmsannotation type="cmsannotation" annotationid="Q) You have recently launched Titan Edge Mechanical. What was the thought behind this new offering?" text="Q) You have recently launched Titan Edge Mechanical. What was the thought behind this new offering?">Q) You have recently launched Titan Edge Mechanical. What was the thought behind this new offering? </cmsannotation> Over the last 37 years, we have always kept our customers’ needs at the heart of our product innovations. One of the most distinguished among them is Titan Edge – the world's slimmest watch that was launchedin 2002. Since then, Titan Edge has introduced some of the most interesting innovation under its umbrella like the Skeletal Edge collection in 2014 and Titan Edge Ceramic in 2017. We wanted to take Edge to the next level with a mechanical movement. This would combine the complexity of mechanical movement with the renowned slimness of Edge. The Titan team worked on this for 5 years and came up with the masterpiece – Titan Edge Mechanical, the slimmest mechanical watch made by an Indian watchmaker. This limited edition collection of 200 watches is a demonstration of Indian manufacturing prowess and marks the entry for Titan in the rarefied world of luxury watches. The Edge Mechanical appeals to three different segments. One is the large base of Titan Edge fans who have been waiting for the next offering from Titan Edge. It is also meant for consumers who appreciate mechanical movements and are current owners and connoisseurs of high end mechanical watches. Finally, for all those who have made their unique place in a new vibrant India, this is a rare combination of design and engineering coming together and they will wear this watch with pride in India and Indian brands. <cmsannotation type="cmsannotation" annotationid="Q) How are you going to market this range? Will it be a 360 degree approach?" text="Q) How are you going to market this range? Will it be a 360 degree approach?">Q) How are you going to market this range? Will it be a 360 degree approach?</cmsannotation> We launched a multimedia campaign with significant investments across print and digital mediums, along with proportional spends on social media, influencer marketing and in-app advertising. This was in line with our strategy to ensure optimum visibility for one of our finest timepieces, which marks our entry in the rarefied world of luxury mechanical watches. <cmsannotation type="cmsannotation" annotationid="Q) Give us a sense of what your ad spends this year will look like? Are you planning to increase it? What are the mediums you will be heavily investing on?" text="Q) Give us a sense of what your ad spends this year will look like? Are you planning to increase it? What are the mediums you will be heavily investing on?">Q) Give us a sense of what your ad spends this year will look like? Are you planning to increase it? What are the mediums you will be heavily investing on?</cmsannotation> We will be entering growth phase in Q1 FY 22 and our media spends will be in line with our growth objectives.Our campaigns will feature a 360 degree approach with investments across TV, OOH, print &amp; digital media. <cmsannotation type="cmsannotation" annotationid="Q) Going ahead, what will be your key areas of focus to grow the business further?" text="Q) Going ahead, what will be your key areas of focus to grow the business further?">Q) Going ahead, what will be your key areas of focus to grow the business further?</cmsannotation> Going forward, innovation will be a key growth driver for us. The trend for premiumization continues very strongly, even after the pandemic. Titan Edge Mechanical has opened new getaways for the brand in the premium segment. In the wearables space, key smart watches and smart bands segment has grown significantly in the last 3 to 4 years. These areas will be the pillars of future growth for the company. Our endeavour in Omni channel and phygital will also play a key role in offering a unified and enhanced experience, in line with shifting consumer buying behaviour.

The smart watches and bands segment has grown significantly in the last 3-4 years and will be the pillars of future growth for us: Suparna Mitra, Titan Company

<ul><li>Fastrack has launched a range of 7 perfumes, three each for men and women and another unisex variant.</li><li>The brand has also roped in <keyword id="3805597" type="PERSON" weightage="20" keywordseo="ananya-panday">Ananya Panday</keyword> as the face of the new range of fragrances.</li><li>It will market its products on Digital and through on-ground activations and sampling.</li><li><keyword id="94933" type="PERSON" weightage="20" keywordseo="Manish-Gupta">Manish Gupta</keyword>, Chief Operating Officer, Fragrance and Accessories Division at <keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> Limited is confident that the brand will become bigger than Skinn, the other fragrance product from the house of the Titan Company, within 2-3 years. </li></ul> After creating a niche for itself in the watches, sunglasses and bags segment, Fastrack, the youth brand from the Titan Company has now forayed into the perfume segment. ‘Fastrack Perfumes’ which will target Fastrack’s core audience, the youth segment, is the second perfume brand under the Titan Company, after Skinn, which was launched in 2013. While Titan has marketed Skinn as a premium product at a higher price point, the Fastrack perfumes will target the younger population, and are being launched in 100ml packs priced at Rs 845 for men and women. It also has a unisex variant priced at Rs 995. However, despite being launched 6 years after Skinn, Manish Gupta, Chief Operating Officer, Fragrance and Accessories Division at Titan Company Limited is confident that the new fragrance brand will overtake Skinn in terms of volume in the next few years, given it will appeal to a wider audience and will be coming at a lower price point, in comparison to other perfume brands in the market. In an attempt to grab the attention of its target audience, the brand has also roped in Ananya Panday as the face of the new range of fragrances. Entering the cluttered fragrance market The size of the fragrance market in India is estimated to be around Rs 4,500 crore, out of which only one-fourth accounts for fine fragrances. Close to three-fourth of the pie is captured by deodorants. However, since the base of fine fragrances in the country is very low currently, it presented with a bigger opportunity, which is what prompted Fastrack to enter the segment. Moreover, a lot of the fragrances in the market are currently global brands and most of them fall in the premium price segment. Fastrack, with its lower price point products is out to entice the younger audience that has more money at its disposal now and is increasingly paying more attention to grooming. Explains Gupta, “The category penetration of fragrances is around 9%. However, with rapid urbanization, we’re expecting this category to explode in the future. So this was an exciting space to be in. Moreover, fragrance as a category is very relevant for the younger population and we don’t see a lot of players targeting the youth. So this is a great space for us.” Marketing Fastrack Perfumes Considering the brand will be targeting the youth, which is already an engaged age group for Fastrack, the brand will go all out on Digital. “We will also be doing a lot of ground activations and associations with popular events like <keyword id="6404681" type="ENTERTAINMENT" weightage="20" keywordseo="Sunburn">Sunburn</keyword> where we will be putting up kiosks. Moreover, with Skinn we realized the importance of sampling and will be giving it a push for Fastrack too,” explains Gupta. Industry data shows that most of the consumption for the fragrance segment comes from the top eight to ten cities. “A large part of our sales come from the top 10 towns. However, our efforts would be to expand our reach further and discover the next 10-20 towns. Since the category penetration isn’t too deep, the task at hand is to create a market,” he elaborates. Tackling competition Fastrack has been known to be an irreverent brand and will continue to have a similar brand positioning for its perfume range too. The brand has come up with a differentiated look and feel for the product, with the perfume bottles designed to look like Bluetooth speakers. The collection comprises 7 different perfumes, the names of which are all inspired from music - Trance, Beat and Pulse each for men and women and a unisex offering Solo, in tune with the concept of gender fluidity. However, the fact is that the fragrance segment already has a lot of well-established brands, some of which are international brands and have been around for years. So what would be Fastrack’s strategy to capture the attention of its consumers? “We are really differentiated in terms of what we are offering. We have designed our products to look like a Bluetooth speaker because we wanted to make sure that our perfume bottles don’t really look like perfume bottles. Also, we aren’t really looking at competition. The space is so large currently that more players coming in would be a happy situation because market development would be easier and unit economics would be better,” says Gupta. He also sounds fairly confident about the kind of reception the product would get. “Skinn has been the number 1 brand in terms of both value and volume in the large format stores (LFS) chains for the past three years. And we are gaining share with each year. However, we are fairly certain that Fastrack Perfumes would be a far bigger brand than Skinn within the next 2-3 years. We are expecting to be far higher on volume, in comparison to Skinn in the next few years,” Gupta shares.

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