Titan has entered into a strategic partnership with Swiss watch maker Raymond Weil. The partnership is to expand its luxury brands segment by adding another chain, which will be called Ethos, said S Ravikant, CEO of Titan.
Speaking to CNBC-TV18, Ravikant said that the consumer sentiments have been okay in last few months. The company is seeing growth in demand across its all brands.
“The mood is pretty positive and we are also unveiling new collections across all our brands within Titan and Fastrack,” he said. The company is banking on the demand uptick for growth.
Below is the verbatim transcript of S Ravikant’s interview to Rukimini Rao on CNBC-TV18.
Q: What is the reason and the market approach behind the partnership with Raymond Weil?
A: You know that we have a premium chain for marketing Swiss brands and other affordable luxury brands as we call them called Helios. In this, chain we have always been looking at strategic alliances and partners and we carry today what 25 international brands. In that endeavour we have now finalised with a new such brand for an exclusive tie up along with one more chain Ethos and the brand is Raymond Weil.
It took us a while to identify Raymond Weil because we have been looking for a brand with a rich heritage and a brand which is well in a sense loved in India. Also has all the same values that Titan stands for and Raymond Weil is one such brand with a lot of equity in India.
Today, we have just announced this partnership, so it is going to be available in the Helios chain and available in its full glory, we are also unveiling the new Maestro collection of Raymond Weil.
Q: Also want to get a sense from you in terms of the consumption story how is it looking like? We are looking at the Diwali season what is the kind of demand scenario that you are looking at?
A: The last couple of month’s consumer sentiments have been fairly okay. In fact little positive and we are seeing good growth across all our brands. Specifically, for Titan this is a big season for all our brands, sub brands specifically brand call Raga. So, we have just unveiled a new collection of Raga.
This time after very long time we are running an offer for our consumers where they can win a gold coin along with each watch. So, the mood is pretty positive we are also unveiling new collections across all our brands within Titan and Fastrack all of that. We are banking a quite a bit as far as this season goes.