2.1 CUSTOMER SATISFACTION

Customer satisfaction is essential for business success in today's marketplace.

Customer satisfaction measures how well the expectations of a customer concerning a

product or service provided by your company have been met. Customer satisfaction is

an abstract concept and involves such factors as the quality of the product, the quality

of the service provided, the atmosphere of the location where the product or service is

purchased, and the price of the product or service. Businesses often use customer

satisfaction surveys to gauge customer satisfaction. These surveys are used to gather

information about customer satisfaction. Typical areas addressed in the surveys

include:

Quality of product.

Value of product relative to price - a function of quality and price.

Time issues, such as product availability, availability of sales assistance, time

waiting at checkout, and delivery time.

Atmosphere of store, such as cleanliness, organization, and enjoyable shopping

environment.

Service personnel issues, such as politeness, attentiveness, and helpfulness.

Convenience, such as location, parking and hours of operation.

Customer satisfaction is a term frequently used in marketing. It is a measure of how

products and services supplied by a company meet or surpass customer expectation.

Customer satisfaction is defined as "the number of customers, or percentage of total

customers, whose reported experience with a firm, its products, or its services

(ratings) exceeds specified satisfaction goals."

It is seen as a key performance indicator within business and is often part of a

Balanced Scorecard. In a competitive marketplace where businesses compete for

customers, customer satisfaction is seen as a key differentiator and increasingly has

become a key element of business strategy.

Within organizations, customer satisfaction ratings can have powerful effects. They

focus employees on the importance of fulfilling customers' expectations. Furthermore,

when these ratings dip, they warn of problems that can affect sales and profitability.

These metrics quantify an important dynamic. When a brand has loyal customers, it

gains positive word-of-mouth marketing, which is both free and highly effective.

Therefore, it is essential for businesses to effectively manage customer satisfaction.

To be able do this, firms need reliable and representative measures of satisfaction.

In researching satisfaction, firms generally ask customers whether their product or

service has met or exceeded expectations. Thus, expectations are a key factor behind

satisfaction. When customers have high expectations and the reality falls short, they

will be disappointed and will likely rate their experience as less than satisfying. The

importance of customer satisfaction diminishes when a firm has increased bargaining

power. For example, cell phone plan providers, such as AT&T and Verizon,

participate in an industry that is an oligopoly, where only a few suppliers of a certain

product or service exist. As such, many cell phone plan contracts have a lot of fine

print with provisions that they would never get away if there were, say, 100 cell

phone plan providers, because customer satisfaction would be far too low, and

customers would easily have the option of leaving for a better contract offer.

Within organizations, the collection, analysis and dissemination of the data send a

message about the importance of tending to customers and ensuring that they have a

positive experience with the company's goods and services. Although sales or market

share can indicate how well a firm is performing currently, satisfaction is perhaps the

best indicator of how likely it is that the firm‘s customers will make further purchases

in the future. Much research has focused on the relationship between customer

satisfaction and retention. Studies indicate that the consequences of satisfaction are

most strongly realized at the extremes. Research also shows that a majority of the

firms invest in measuring, monitoring, and disseminating customer satisfaction

information; in fact, these authors found that customer satisfaction research is one of

the most widely conducted marketing research activities in the firms.

2.2 WATCH INDUSTRY

The Indian watch industry among the three price segments of mass, mid and premium

watches is witnessing highest growth in the premium segment. This is primarily

because of the rising size of the urban middle class population in the country which

has high spending capacity and which is increasingly becoming more open towards

spending on the consumption of the luxury goods. These consumers mainly include

young entrepreneurs, sportspersons, corporate executives, celebrities and others who

have high disposable incomes and have higher inclination to experience luxury

provided by goods of international standard. As a result, the watch market in India has

evolved into a competitive market with a large number of market players offering new

and innovative products to their consumers in order to capture high shares in the

rapidly expanding market. This market has witnessed the influx of a large number of

international brands which have entered the country in order to establish their position

in the close to INR 60,000.0 million Indian watch industry. This growth has also been

witnessed in the wristwatch segment of the online retail.

The online retail market for wrist watches has grown tremendously at a CAGR of

around 142.5% during FY‘2011 and FY‘2013 pointing towards the increasing

popularity of the usage of e-commerce websites for purchase of watches. ―In

FY‘2013, the online retailer market for wrist watches was characterized by a few e-

commerce websites holding around 92.5% of the market share. The market is majorly

dominated by the five e-commerce players Snapdeal, Flipkart, Watchkart, Jabong and

Myntra.‖ – According to the research report ‗India Watch Industry Outlook to 2018 -

Premium Segment and Online Retail to Lead the Growth‘ by Ken Research. Today

the Indian watch market is characterized by variety of formal watches, designer wrist

watches, sports wrist watches, chronographs and other stylish wrist watches. This has

ensured steady increase in demand for wrist watches from different sections of the

Indian consumers. The number of internet users is expected to increase from the 154

million users in FY‘2013 to about 470 million users in FY‘2018. This will boost up

the sales of the wrist watches through online mode. The newly available high speed

3G connections in the country available at economical rates will give a major boost to

online retail market for wrist watches in the future.

The wrist watches which are considered as a lifestyle accessory these days will also

benefit immensely from this growing online retail market. The report provides

detailed overview on the watch industry in the India and helps reader to identify the

on-going trends in the key segments of the industry and anticipated growth in future

depending upon changing industry dynamics in coming years. The report will aid

industry consultants, wrist watches and wall clock manufacturing and marketing

companies and other stakeholders to align their market centric strategies according to

on-going and expected trends in future.

Earlier, in India watches were seen as a luxury item. However, watches are now

witnessing a fundamental change in perception, and are now gaining respect as an

essential utility item. With the liberalization of the Indian market, coupled with the

rising purchasing power of the young and consumerist Indians, watch industry in

India seems to have a lot of potential to grow in the global market.

In 2012, the market size of the Indian time wear industry was approximately 4,000 to

4,200 crore. Despite the presence of global players and the opening up of the market,

the Indian market has been dominated by a single player, Titan. Titan possesses

almost 65% of the total market share of the organized watch market in the country.

HMT (Hindustan Machine Tools) and Timex are other Indian watch companies.

Apart from the domestic companies, many international brands have also penetrated

the Indian market. Brands like, Citizen, Rolex, Casio and Omega are some of the

international brands that has a presence in the Indian watch market.

Watches are classified into fashion watches and specialist watches. Almost all

international brands have a clear position as to where they belong. However, in India

these segments are not yet distinguished by marketers, but most of the sales are in the

fashion segment. Male watch buyers dominate the Indian market accounting for

around 65% of total sales, whereas females represent the remaining 35% of total

sales. Students are the largest segment of buyers accounting for around 30% of total

sales. The growing number of working people in cities led to on-going growth in

demand for watches. The increasing level of penetration of watches in Indian rural

areas is contributing to the growth of the watches category as well.

The availability of branded watches across India and the increasing number of

exclusive branded outlets helped the watch industry grow. Sales promotions like

discounts and additional warranties from leading players like Timex Group and Titan

Industries Ltd also stimulated the market growth in the country. The watch industry in

India has a lot of scope in terms of volume and value, as the penetration is still low

and the unorganized sector is quite large. There is still an uncertainty to whether

Indian companies like Titan will lead this growth or the global majors like Citizen,

Seiko etc. will take over.

In today‘s scenario, the country's watch industry market size is expected to touch Rs

15,000 crore by 2020 on rising income levels and increasing consumerism, says a

study by industry body Assocham. At present, the sector's size is estimated at Rs

5,000 crore, the study said. "Indian watch market is set to touch Rs 15,000 crore in the

next seven to eight years due to increasing income levels and growing popularity of

watches, especially amongst youths," Assocham Secretary General D S Rawat said.

This untapped segment has enormous potential for growth, the study said. "Some

customers look out for features like fashion trends, technology and sophistication,

while others go for durability and reasonable prices," it said. Further, the study said

the maximum number of watches sold is in the price range of Rs 500 to Rs 5,000

followed by a higher price bracket of Rs 5,000 to Rs 25,000. However, with more and

more global brands foraying into the Indian market aimed at catering to growing

demand, it has created challenges for local manufacturers as well, the study said. "But

local players still continue to dominate the Indian watch industry due to good

manufacturing base and affordable prices," it said.

2.3 COMPANY PROFILE

Introduction

Titan Company is a manufacturing company that produces India's largest and best-

known range of personal accessories — watches, jewellery, sunglasses and

prescription eyewear. Precision engineering is another area of specialization that Titan

Company excels in. The company was established in 1984 as a joint venture between

Tata and the Tamil Nadu Industrial Development Corporation.

The company brought about a paradigm shift in the Indian watch market, offering

quartz technology with international styling, manufactured in a state-of-the-art factory

at Hosur, Tamil Nadu. In 1995, the company diversified into jewellery under the

brand Tanishq to capitalize on a fragmented market operating with no brands in urban

cities. In 2005, the company launched its second jewellery brand, Gold Plus, to

capitalize on opportunities in small towns and rural India. The company has also

made its foray into eyewear, launching Fastrack eyewear and sunglasses, as well as

prescription eyewear.

Vision and Mission

Vision: The Company creates elevating experiences for the people touch and

significantly impact the world work in

Mission: The Company do this through a pioneering spirit and a caring, value-driven

culture that fosters innovation drives performance and ensures the highest global

standards in everything the company do

Values and Standards: Total customer orientation: Customers take precedence

over all else, always.

Employee appreciation: The Company value and respect Titanians and endeavour to

fulfil their needs and aspirations.

Performance culture and teamwork: At Titan Company, high performance is a way

of life and is nurtured by teamwork.

Creativity and Innovation: Driven by innovation and creativity, the focus on

smarter approaches and newer technologies.

Passion for excellence: In all its pursuits, the company ceaselessly strive for

excellence.

Corporate Citizenship: The Company ensure that a part of its resources is invested

in environment and community betterment.

Board Of Directors

Mr. C. V. Sankar, IAS Chairman

Mr. Bhaskar Bhatt Managing Director

Mr. N N Tata Director

Mr. Harish Bhatt Director

Mr. T K Balaji Independent Director

Dr. C G Krishnadas Nair Independent Director

Ms. Vinita Bali Independent Director

Mrs. Hema Ravichandar Independent Director

Prof. Das Narayandas Independent Director

Mr. T K Arun Director

Mrs. Ireena Vittal Independent Director

Awards & Accolades

Over the years Titan Company has received several prestigious awards and

distinctions. Some of the recent and most noteworthy recognition's are:

Corporate

Selected as Best Employer for "National Award for the Empowerment of Persons

with Disabilities - 2014" by Government of India.

Titan ranked among the 100 most sustainable corporations in Asia in the Channel

News Asia Sustainability Ranking 2014.

"Champion of Champions" award at the 8th Loyalty Summit for the Encircle

Loyalty Program. 2014.

Top Indian Company award under the Gems and Jewellery Sector at the Dun &

Bradstreet Corporate awards, 2014.

"Hall of Fame" award at 12th Franchisee Awards 2014 by Franchisee India.

Watches

Award at the CII 24th Kaizen national awards for assembly casing team.

"Good Design Award 2014" by design Council of Japan for Skeletal Edge.

"Best Product design of the year-Watches & Jewellery" award by Red Dot for

Skeletal Edge for 2014.

Bronze medal at the Indian Effies Award for Fastrack

Jewellery

"Most Admired retailer of the year" award in Jewellery Category by Images Retail

Awards.

Tanishq wins Global Awards for Excellence in Quality Management & Leadership

by World Quality Congress.

Tanishq is the first Indian Brand to enter the list of top 30 Best Retail Brands in

Asia Pacific and stands at # 13 as per Interbrand.

Eyewear

Award for Customer service excellence at Golden Globe Tigers Award.

Gold & Silver Awards at TRRAIN (Trust for Retailers and Retail Associates of

India) Retail Awards.

Gold Award in the Outdoor Advertising Convention 2014.

Precision Engineering

Precision Engineering, Hosur wins three State Safety Awards announced by Tamil

Nadu Government for 2013.

Milestones of Titan

1984-The company was incorporated on 26t h

July, at Chennai. The

manufacture analog electronic watches with a choice of over 150

designs. The company was promoted jointly by Questar Investments,

Ltd. , a Tata Company with its associates Tata Sons, Ltd., and Tata

Press, Ltd., and Tamil Nadu Industrial Development Corporation, Ltd.,

(TIDCO). The main objective of the company is to manufacture analog

electronic watches with a choice of over 150 designs.

-The undertook a set up a plant for the manufacture of quartz analog

electronic watches in the State Industries Promotion Corporation of

Tamil Nadu, Ltd., Industrial area at Hosur.

-The company entered into a collaboration agreement with France

Ebauches (EF) of France, manufactures of watch movements and

components, for technical documentation, assistance in procurement of

manufacturing equipment , raw materials, etc.

-The company proposed to manufacture 2 million and ana-digi watches

in collaboration with Casio Computer Company of Japan. A MOU was

signed between the Company and Casio in November 1986.

1987-The Company established a manufacturing facility at Hosur for

the manufacture of component for watches.

-In April the Company also issued 5 ,25,000-13.5% secured redeemable

partly convertible debentures of Rs 300 each for cash at par. The

debentures were allotted on preferential basis:

26,250 debentures to employee/workers of the Company and

associate companies

52,500 debentures of shareholders of Tata Press Ltd.

1,31,250 debentures of NRIs on repatriation basis. The remaining

3,04,500 debentures along with the unsubscribed portion of

78,900 debentures from the preferential quota were offered for

public subscription during April. Additional 1,31,250 debentures

were allotted to retain over-subscription.

-The convertible portion of Rs.100 of the face value of each debenture

was converted into 10 equity share of Rs 10 each at the of three months

from the date of allotment of debentures (65,62,500 equity shares were

allotted accordingly) .

-The non-convertible portion of Rs 200 of the face value of each

debenture was to be redeemed at par at the end of the 10years from the

date of al lotment of debentures.

1989-A new range of watch called ―Aqura‖ was launched in December.

-The case plant at Hosur was commissioned. The plant was to be

produce 1.5 million watch cases. The project cost was financed partly

through internal resources and largely through borro wings from IFC,

Washington and Tamil Nadu Industrial Development Corporation, Ltd.

-The company set up a satellite case plant at Dehra Dun in Uttar

Pradesh with a capacity of 5,00,000 watch cases per annum to improve

operating efficiency and reduce cost.

-During August, the company issued 2,52,000 -12.5% convertible

debentures of Rs 500 each as follows:

2,40,000 debentures on right basis in the proportion of 1

debentures:100 equity share held

12,000 debentures to employees/workers of the Company on an

equitable basis. A total of 2,84,455 debentures were allotted

under this issue including retention of oversubscription.

-Part ‗A‘ of each debenture of face value of Rs 100 was compulsorily

and automatically converted into 10 equity share of Rs 10 each at par

on expiry of six months from the date of allotment of debentures.

-Part ‗B‘ of each debenture of face value of Rs 200 was converted into

4 equity share of Rs 10 each at premium of Rs 50 per share on 1.10.92.

-Part ‗C‘ the non -convertible portion of each deben ture of face value of

Rs 200 was to be redeemed at par at the end 10t h

year from the date of

allotment of debentures.

-The proceed of the issue were to be utilized to meet a part of the fund

requirement of the company‘s project to manufacture watch cases a nd

other critical components inhouse.

-The company proposed to offer 40,26,700-12.5% fully converted

debentures of Rs 100 each on Right basis in the proportion 2 debs:20

equity shares held. Another 20,12,340-12.5% debentures were to be

issued the employees on an equitable basis.

-Rs 40 of the face value of each debenture were to be converted into 1

equity share of Rs 10 each at a premium of Rs 30 per share on or

before 30t h

September, 1995.

-Rs 60 of the face value of each debenture was to be converted into 1

equity share of Rs 10 each at a premium not exceeding of Rs 50 per

share on or before 30t h

September, 1996.

1991-A joint venture company along with Economic Development

Council of Goa, Daman & Diu Ltd., in the name of Titan Time

Products, Ltd., was set up at Goa, for the manufacture of Electronic

Circuit Blocks.

-They undertook to setup a jewellery business at Hosur. The jewellery

repertoire was to include both daily -wear jewellery and luxury

products.

-Grand Walker, a UK based firm, was to provide the n ecessary

consultancy services and the marketing was to be undertaken

worldwide through an offshore company controlled by Titan Watches

Ltd., with i ts main base in London.

-The Company along with other Tata Associates were to participate in

the equity of Timex, who were to offer equity share of Rs 10each at

premium of Rs 40 per share. It was also proposed to make a partly

convertible debenture of nearly Rs 60crores.

1992-Over 150 new models were introduced of which ‗Raga‘

introduced in June, ‗Spectra‘ a range of watches in steel and gold

plated was reintroduced with a new look in August. It was proposed to

introduce a host of new products based on new movements.

-It was also proposed to sell the brand name ‗Aqura‘ and the right

Aqura products of Timex, with a view to move up market.

-With a view to streaming a Company‘s international operations, it was

decided to set up a wholly owned subsidiary ―Titan Holdings BV‖ in

Netherlands. Approval was received for investment on share capital of

2 million U.S. $ in that company.

-Titan Times Product Ltd. , is joint sector project set up with the

Economic Development Council of Goa, Daman & Diu.

-Titan Properties Ltd., was incorporated to undertake land development

and housing scheme for the company‘s employees at Hosur .

-The company issued 134,22,300 Rights equity share of Rs 10 each for

cash at a premium of Rs 40 per share in the proportion 1:2(all were

taken up).

-Another 5,69,000 no of equity share of Rs 10each were issued at a

premium of Rs 40 per share in proportio n 2 shares: 1 debenture held at

Part B holder of 12.5%. Convertible debentures issued in 1989(all were

taken up).

-6,99,600 No of equity shares of Rs 10 each were offered at a premium

of Rs 40 per share to employees of the company and those of promoter

companies on an equitable basis(only 3,02,600 shares were taken up).

1993-The name of the Company was changed with effect from 21s t

September from Titan Watches Ltd., to Titan Industries Ltd. , in view

of the fact that the Company‘s product consisted not only watches but

also jewellery.

1994-The company introduced ‗Tanishq‘ range of watches made of 18

carat gold and studded with precious stones. A new range of watch

‗Insignia‘ manufactured from the European market likely to be

introduced in the domestic market.

-The Company proposed to expand the watch manufacturing to 5

million pieces by adding some balancing equipment and productivity

devices in the component manufacturing pl ants.

-The company proposed to established new facilities for the

manufactures of table clock with the capacity of 1.5 mill ion pieces per

annum. New facilities were also being established for the manufacture

of complex integrated metal bracelets with the capacity of 1.2 million

of bracelets with technical assistance from a reputed manufacture in

Japan.

-A new company was established in Singapore to market products in

south and South East Asian countries.

1995-The proposed to set up a joint venture company with Hosur Glass

of Singapore to set up watch boutiques in leading Indian cit ies for the

sale of luxury watches and also be responsible for wholesale and after

sales operations.

1996-The company has introduced new economy range of watches

called ―Sonata‖ and Tanistiq‘s 22 carat ethnic jewellery during the

year.

-23, 00, 000 Pref. shares issued on private placement basis.

1998-3.5%, 14% and 12% redeemable cumulative preference shares has

been fully redeemed.

-The company now has 102 exclusive Titan showroom s and a chain of

83 timezone outlets in addition to being present in over 5400 dealer

outlets in 1300towns and cities across the country.

-Mr. A C Mukherji and Mr. T K Balaji retire by rotation and are

eligible for reappointment.

-During the year, the Tamil Nadu Industrial Development Corporation

(TIDCO) nominated Mr. R Gopalan, their chairman and managing

director.

-The Research and Development Group has developed a slim movement

with date which has been introduced in the market.

2000-Titan Industries has announced the lunched of Cyber, a range of

Digital Clocks.

-ICRA has withdrawn the A1+ rating assigned to the Rs 15 crore CP

programme of the company as there is no outstanding against the

instrument.

-Titan industries has been conferred the award for excellence in

electronic for the year 1998 by the Ministry of Informational

Technology (MIT).

2001-Titan Industries Ltd. , has lunched three new collections of i ts

popular Dash Brand of watches for kids—Popeye, Digital and

Lumibrite.

-Titan Industries on June 27 reported its profit rose 21.8% in the past

year to March, reflecting strong sales growth by i ts jewellery division.

2002-Titan Industries Ltd informs that the Board of Director have

appointed Mr. V.K.Jeyakodi, IAS, Executive Di rector, Tamil Nadu

Industrial Development Corporation Ltd as a Director of the Company,

in place of M. Hemant Kumar Sinha who has resigned.

- Titan Industries Ltd informs that Mr. Bhaskar Bhatt is appointed as Managing

Director of the Company. Mr. Bhaskar Bhatt succeeds Mr. Xerxes Desai who steps

down as Managing Director on March 31, 2002, at the end of his tenure.

-Titan Industries Ltd, the Board of Directors have appointed Mr. M Kalaivanan,

appointment in place of Mr. V K Jeyakodi who has resigned from the Board on

March 27, 2002.The Board of Directors have also appointed Mr. Krishnadas Nair as

an additional independent Director on the Board of the Company effective May 02,

2002.

- At the Board meeting of Titan Industries Ltd held today (June 26, 2002), the Board

of Directors noted and accepted the resignation of Mr. A Gowrishankar as Chairman

and Director and Mr. M Kalaivanan as a Director, both of them were nominee

directors of TamilNadu Industrial Development Corporation Ltd (TIDCO) The

Directors have also approved the appointment of Dr R Vijaykumar as a Nominee

Director of Tidco in place of Mr. M Kalaivanan.

-Titan Industries Ltd decides that it would be in the long-term interest of the company

to rationalize its manpower and to improve productivity. With a view to achieve this

objective and keeping the best interests of both employees and the company in mind

the company has decided to introduce a Voluntary Retirement Scheme to its

permanent employees. The scheme has been notified today July 25, 2002 to the

employees of the company.

-Arun Kumar appointed as Director & Chairman of Titan Industries.

2003-Tanishq steps into a new segment Silverware. The silverware range has been

designed by Michael Folly, the designer for Titan. We have introduced silverware in

all metros, said YL Saroja, group manager, sales and marketing, Tanishq. This is an

Rs 5,000 crore market and has few organized and branded players.

-Management decided to declare partial lock-out at the company's manufacturing

facilities at Hosur.

-Floats towards automotive and aerospace precision mechatronics for aviation and

auto tools.

-Mr. Jacob Kurian, Chief Operating Officer gives his resignation to the company.

-Sold business of publishing Readers Digest Magazine for a lump sum consideration

of Rs 150 million to Living Media India ltd.

2004-GVM International Ltd., a licensee of Tommy Hilfiger Licensing Inc (a wholly-

owned subsidiary of Tommy Hilfiger Corporation), and a member of the Murjani

Group, enters into an exclusive sub-licensing agreement with Titan Industries Ltd to

market and distribute Tommy Hilfiger watches in the country

-Relaunches 'Raga', the women's watch range

-Titan has announced the launch of a new collection of women's watches called 'Raga

Miniatures'. Small and delicate in size the watches bracelets in 15 varieties of gold

and steel and is priced at Rs 2995 onwards.

-Titan Industries Ltd announced the launch of the customer service `Original Spares'

logo.

-Titan has announced the launch of Raga 9 to 5 collections of watches aimed at

working women. The collection comprises around 40 designs and is targeted at

women in the age group of 25 to 45. The new range is available at a price ranging

from Rs 1650 to Rs 5000.

-Titan Industries on June 18, 2004, announced the launch of the Tommy Hilfiger

watch collection in India. Titan has entered into an exclusive sub-licensing

arrangement with GVM International Ltd, a member of the Murjani Group, for the

marketing and distribution of Tommy Hilfiger watches in India.

-Watch and jewellery manufacturer Titan Industries forayed into the fashion

accessories industry with the launch of sunglasses, an Rs 330-crore market.

-Rolls out new range of designer eyewear in Chennai.

-Titan Industries on July 22, 2004, launched the Flip collection - a dual-faced watch

that incorporates two watch movements embedded in a single case.

-Titan rolls out new range of jewellery watches under the 'Nebula' brand.

-Titan Industries launches Crown Collection watches.

-Titan partners with LVMH Group.

-Titan Industries launches Cal Track.

2005-Titan re-introduces Fastrack range of watches

-Titan introduces new gold & steel collection in Coimbatore

-Titan rolls out bi-metal range of watches in Vizag

-Titan launches multiple watches under Raga coordinate range

2006-Titan Industries Ltd has informed that Mr. Harish Bhatt is being appointed as

Chief Operating Officer (COO) - Watches and Licensing & Accessories Division of

the Company.

-Titan to set up Tanishq exclusive stores in US

-Titan Industries unveils Xylys watches

-Titan Industry sets up boutique in Banjara Hills

-Titan Industries Ltd Issues Rights in the Ratio of 1:20

2007-Titan Industries Ltd has informed that Mr. Sunil Paliwal, IAS, Executive

Director, Tamilnadu Industrial Development Corporation Ltd (TIDCO) has been

inducted as an Additional Director in the Board of the Company with effect from

February 26, 2007.

- Titan Industries Ltd has informed that the Board of Directors of the Company at its

meeting held on October 29, 2007, inter alia, has appointed Mr. Kumar Jayant, IAS,

nominee Director, Tamilnadu Industrial Development Corporation Ltd as an

Additional Director in the Board of the Company with effect from October 29, 2007.

-Mr. Sunil Paliwal, IAS, nominee Director, Tamilnadu Industrial Development

Corporation Ltd has resigned as Director of the Company.

2008-TIL ties up with Sankara Nethralaya

2009- Titan Industries Ltd has appointed Mrs. Anita Praveen, IAS, Chairperson &

Managing Director of Tamilnadu Industrial Development Corporation Ltd (TIDCO)

as an Additional Director of the Company with effect from June 01, 2009.

2010-Titan Eye plus launches world class Lens Manufacturing unit!

-Fastrack, India's most popular fashion accessories brand, recently signed on Genelia

D'souza to be the face of the brand. The fashion brand lends its irreverent character to

Genelia bringing out the edgy, sexy side of the previously sweet & bubbly Genelia in

the "Sweet No More" Sunglasses Campaign.

-Innovation School of Management receives the prestigious "Gold Award".

-Tanishq was awarded the World Brand Congress Global Awards for ―Brand

Leadership‖ in Durables Category.

2011-Tanishq wins the coveted "Effie Awards".

-TITAN has been ranked 10th among 16,000 of the brands studied across 9 cities in

the "The Brand Trust Report, India Study, 2011".

-Titan Industries Ltd. - Jewellery Division has won 3rd position in the "Productivity

championship award" for "Innovative diamond setting process" at IMTMA National

Productivity summit conducted by IMTMA in Bangalore on 13th Dec 2011.

-Titan Industries Limited and Brand Tanishq win 3 awards at the Star Retailer and

Franchise Awards 2011.

-Titan Industries, jewellery division was awarded "Gold Award" in "Engineering

sector" in the Economic Times India Manufacturing Excellence Awards 2011

-Jewellery division of Titan Industries Limited has been awarded the Golden Peacock

Innovation award for the year 2010 in the Engineering sector.

-Company has splits its Face value of Shares from Rs 10 to Re 1

-Titan Industries has given the Bonus in the Ratio of 1:1

2012-Titan Industries Ltd won a total of 3 awards at the ET retail wards which was

held in Mumbai on the 18th of January 2012

-Titan Wins 2 awards at the 12th edition of Images fashion awards night

-Special brooches designed by Tanishq will be worn by the Head of States at the 4th

BRICS Summit.

-Titan Industries Limited has been certified to ―OHSAS 18001: 2007 ―Management

Systems.

-Titan Industries Ltd. was selected unanimously by the jury as the Best Governed

Company 2012 by Asian Centre for Corporate Governance & Sustainability

-Titan Industries won the Client of the Year award at the Campaign India Digital

Media Awards -Special brooches designed by Tanishq will be worn by the Head of

States at the 4th BRICS Summit.

-The Images fashion awards were held in Mumbai on 12th March 2012 during the

course of the 12th India Fashion Forum

2013-Titan Industries Ltd. shall be changed to Titan Company Ltd.

2014 -Titan Company has entered into a Joint Venture agreement with Montblanc

Services B.V. Netherlands for establishing operations in India for carrying on single

brand retail trade. -Titan Company Ltd which is engaged in manufacturing of

watches/accessories, jewelry, precision engineering and eyewear stated that their

jewellery division has launched first Karigar centre for jewellery manufacturing in

Hosur.

List of Titan Brands

Brief Introduction about Titan Brands:

Titan is one of India's leading watch brands that brought about a paradigm shift in the

Indian watch market, offering quartz technology with international styling. The Titan

portfolio owns over 60% of the domestic market share in the organized watch market.

The brand Titan is committed to offering its consumers watches that represent the

compass of their imagination. The brand regularly introduces exciting new

collections, which connect with the various facets of deep-rooted human yearnings for

self-expression. The new brand philosophy of Titan, encapsulated in the catchphrase

'Be More', touches this as well as all other aspects of the brand.

The Titan brand architecture comprises several collections and sub-brands, each of

which is a leader in own space. Notable among them are: Titan Edge - world's

slimmest watch based on the philosophy 'less is more' , Titan Raga - feminine and

sensuous accessory for today's woman, Nebula - crafted with solid 18k gold and

precious stones. Several other popular collections like Purple, Orion, Automatic,

Bandhan, Octane, Obaku, HTSE and Zoop also form a part of the Titan portfolio.

The watch division boasts of over 370 exclusive showrooms christened 'World of

Titan', placing the brand amongst the largest chains in its category backed by over

740 after-sales-service centres. The division has a world-class design studio that

constantly invents new trends in wrist watches.

Sonata, India's largest selling watch brand, offers stylish and contemporary watches

for everyone. The bold and beautiful designs of Sonata watches capture the

aspirations and imagination of those young at heart.

The exciting range of Sonata is available in more than 600 designs. There is a watch

for every occasion and every mood. The Eva Collection celebrates the working

women‘s need to be fashionable yet formal. Super Fiber watches with their bold,

sporty looks and high water resistance are an ode to the sports enthusiasts.

The Sonata dress watches add to the glamour of festivities. Stylish fashionable

watches in both steel and plastic are any young girl‘s dream come true.

All these Sonata watches are available across Titan Company‘s' 11,000+ authorized

watch outlets and the exclusive World of Titan stores chain. Best material and several

stringent quality checks ensure that Sonata watches stay with you for long. Water

resistance (30m) and one-year guarantee add to Sonata‘s array of quality features.

With exquisite looks, world-class quality and millions of delighted customers, Sonata

continues to evoke pride and confidence in the customer.

Fastrack was launched in 1998 as a sub-brand of Titan. It was spun off as an

independent Accessory brand targeting the urban youth in 2005. With a vision to

become a complete fashion brand for the youth, Fastrack quickly extended its

footprint to sunglasses in 2005 & then Bags, Belts & Wallets in 2009.

Fastrack‘s provocative, tongue-in-cheek advertising, its unique & affordable designs

& its quick extension across categories ensures its popularity with the urban youth

audience, making it one of the fastest growing fashion brands within the country.

Its growing presence on Facebook – a fan base that now touches 6 million, keeps it in

touch with its audience. With enough categories to fill up a store, Fastrack ‗moved

on‘ to open its exclusive store chain for its young consumers across the country. The

store is positioned as a complete accessories destination with all Fastrack gear under

one roof. The first store was opened in Pune in 2009; which has now grown to over

150 stores.

A raga or raag (literally "colour, hue" but also "beauty, melody"; also spelled raaga,

ragam; pronounced rāga, or rāgam or "raag") is one of the melodic modes used in

Indian classical music.

A raga uses a series of five to nine musical notes upon which a melody is constructed.

However, the way the notes are approached and rendered in musical phrases and the

mood they convey are more important in defining a raga than the notes themselves. In

the Indian musical tradition, rāgas are associated with different times of the day, or

with seasons. Indian classical music is always set in a rāga. Non-classical music such

as popular Indian film songs and ghazals sometimes use rāgas in their compositions.

Joep Bor of the Rotterdam Conservatory of Music defined Raga as "tonal framework

for composition and improvisation." Nazir Jairazbhoy, chairman of UCLA's

department of ethnomusicology, characterized ragas as separated by scale, line of

ascent and descent, transilience, emphasized notes and register, and intonation and

ornaments. Pandit Jasraj describes the meaning of Raga as "love".

Titan Nebula watches are a delicate blend of the finest craftsmanship

in jewellery making. Nebula Watches crafted with solid 18k gold and

precious stones. Inspired by metal Titan presents a classic collection of

stunning jetrecilery watches - NEBULA Crafted superbly from 18 karat

solid gold and inlaid with precious stones, each piece comes with a

Lifetime Guarantee. Available in 18k gold with leather straps

embedded with 'tanishq certified brilliant cut diamonds'.

Zoop is a range of funky watches from Titan, designed for the

imaginative, talented and energetic child of today. The bright colours,

striking designs and a distinctive childlike identity make Zoop an

accessory every child can identify with.

A blur of motion. The glint of steel . A sudden rush of excitement. This

is the world fuelled by Octane, from Titan. Sporty, stylish and bristling

with features Octane is more than just time ticking on adrenaline.

The company came out with Xylys about seven years ago. That was the time when

the company noticed people gearing towards premium products and had started

purchasing high-end fashion brands. This gave rise to a new set of consumers, who

were not traditionally rich, but had attained a certain premier status through sheer

education. These new-age customers were well-travelled and were aware of global

trends. A Swiss watch brand made sense to them because it represented class and

style. That‘s when Titan decided to come up with Xylys in India, and since then the

response for the brand have been tremendous.