Summary

• Page properties (1 modified, 0 added, 0 removed)

Details

Page properties

Content

...	...	@@ -109,28 +109,33 @@
109	109
110	110
111	111
112		-Business Segments
	112	+= Business Segments =
113	113
114		-The financial year 2020-21 was the most challenging year for the corporate world in living memory. In one sense, it was even more challenging for the Company, given the kind of products it makes, which are by and large discretionary in nature
	114	+The financial year 2020-21 was the most challenging year for the corporate world in living memory. In one sense, it was even more challenging for the Company, given the kind of products it makes, which are by and large discretionary in nature. {{footnote}}https://www.titancompany.in/sites/default/files/Titan%20Annual%20Report%202021_0.pdf{{/footnote}}
115	115
116		-[[https:~~/~~/www.titancompany.in/sites/default/files/Titan%20Annual%20Report%202021_0.pdf>>url:https://www.titancompany.in/sites/default/files/Titan%20Annual%20Report%202021_0.pdf]]
117	117
118		-Watches & Wearables Division
	117	+== Watches & Wearables Division ==
119	119
120		-Watches
	119	+=== Watches ===
121	121
122	122	The Management is convinced that the opportunity for “Watch as an Accessory” is timeless and is committed to capitalize on it. While the investment in design and new product development has happened consistently over the last 3-4 years, considerable focus is now being given to reimagining the World of Titan channel, transformation of the Multi-Brand watch outlet, marketing communication investments and ratcheting up the omni-channel play
123	123
124		-Wearables
125	125
	124	+=== Wearables ===
	125	+
126	126	The Company significantly increased its capability for this domain through the acquisition of HUG Innovations in Financial Year 2019-20, while simultaneously improving its product and app design capabilities as well. The result is a steady pipeline of exciting new products, services and ecosystems starting as early as in 2021. Reflex 3, the Fastrack wrist band launched in February 2021 on the Company’s own proprietary platform, is a sign of things to come.
127	127
128		-International Business
129	129
	129	+=== International Business ===
	130	+
130	130	The recovery of the Watches category in Titan’s international market has been a bit slow. But, the newly created business division (now 2 years old) is focusing on the intrinsic opportunity for the Company’s brands and is currently building a customer-up strategy for growing in sales, profits and prestige in the next 5 years and a good addition to the domestic Watches and Wearables business.
131	131
132		-Jewellery Division
133	133
	134	+[[image:TITAN4.png]]
	135	+
	136	+
	137	+== Jewellery Division ==
	138	+
134	134	The opportunity for the Jewellery Division during Financial Year 2022-23 as well as in the medium term is excellent. Apart from the low market share and the increasing competitive advantage and brand preference, the Division is continuing to push many levers for growth. Multi-pronged efforts within the wedding market (including a new Engagement Rings focus), a “Many Indias” programme to increase state-level relevance, keeping the momentum behind the Gold Exchange and Golden Harvest opportunities, keeping the “Middle India” network expansion effort going.
135	135
136	136	The Zoya and Mia brands will also be riding firm on the momentum generated during Financial Year 2021-22 towards their exciting future.
...	...	@@ -139,12 +139,14 @@
139	139
140	140	CaratLane has had a scorching growth in Financial Year 2021- 22 and reported a profit for the first time. The powerful omnichannel approach, very high technology capability, innovative product lines and the new-age employee culture have combined exceptionally well. The Company is very confident that CaratLane has all the ingredients for creating history and substantial stakeholder value in the next few years.
141	141
142		-International Business
143	143
	148	+=== International Business ===
	149	+
144	144	The much-awaited launch of Tanishq in Dubai has been very successful, with customers giving a big thumbs-up for the excellent products and collections, the exquisite store and the superlative customer experience. The expansion into more stores in the UAE and the GCC countries is on the cards. The NRI/PIO jewellery opportunity is very large and the Company is committed to making this a meaningful part of its portfolio in the next 5 years.
145	145
146		-Eyewear Division
147	147
	153	+== Eyewear Division ==
	154	+
148	148	The Eyewear Division transformed itself during Financial Year 2021-22 by unlocking substantial value from its operations: discount reduction, channel-mix improvement, product-mix improvement, in-house production enhancement, store and lab closures, other fixed cost management, all of these have contributed to a new platform of profitability that is quite sustainable. The Division is now all poised to grow in sales in the medium term and leverage this foundation.
149	149
150	150	The Division has also worked substantially on product innovations in lenses (Antifog, Clearsight, Neo progressives) and frames (Indifit, Signature, Glam, etc.) as well as channels (Ecolight low cost stores), all of which significantly improved the Division’s competitive advantage.
...	...	@@ -151,18 +151,23 @@
151	151
152	152	The overall opportunity in this market is vast on account of three things. The low market share that the Division has, the millions of people in the country with unaddressed refractive error and the new lifestyle (excessive screen time) that is accelerating the need for vision correction among the youth.
153	153
154		-Fragrance Division
155	155
	162	+[[image:TITAN5.jpg]]
	163	+
	164	+
	165	+== Fragrance Division ==
	166	+
156	156	The Division has succeeded in creating a wide range of “Exceptional Quality, Affordable Price” Eau de Parfum variants: ‘Tales’ at ` 1595 to ‘Amalfi Bleu’ at ` 2495 and many in between, and through this created a broad aspirational category for millions of aspiring Indians who find international choices out of their reach. This platform will come in very handy in the next few years as India’s per capita GDP jumps significantly making this business start contributing meaningfully to the Company’s revenues and profits.
157	157
158		-Indian Dress Wear Division
159	159
160		-Ethnic Wear
	170	+== Indian Dress Wear Division ==
161	161
	172	+=== Ethnic Wear ===
	173	+
162	162	The market for sarees is very large. While lifestyle changes are influencing the frequency of saree wearing, the opportunity for special occasion sarees, where the Company has chosen to play, is significant and growing. The Division has succeeded in establishing a very strong customer value proposition, a systematic product and store assortment creation process, a healthy gross contribution profile and a unique and special store experience. The next couple of years will see the Division scale up its efforts in network expansion and franchising as well as building a good sourcing and supply chain foundation. The huge advantage that this Division has is the ready member base of the Company’s Encircle loyalty program and the franchise network.
163	163
164	164
165		-Financial Highlights
	177	+= Financial Highlights =
166	166
167	167	Financial highlights for the year ended 31st March 2021
168	168