Senior Correspondent, IndianRetailer.com & Retailer Magazine Mar 04, 2015 / 3 MIN READ
Watch manufacturing major Titan Company Ltd has begun production of stainless steel cases at its new facility in Coimbatore, Tamil Nadu. The facility has been set up at an investment of Rs 75 crore, says a PTI report.
“Titan Company Ltd has commenced production of world class stainless steel cases at a new facility in Coimbatore, set up at a cost of over Rs 75 crore,” the company said in a BSE filing.
The plant on 11.3 acres would manufacture one million cases per annum which can later be increased to two million cases, it said.
The plant’s value chain capability addresses all domains of stainless steel case manufacturing, including tool design, tool manufacturing, press shop, machining, polishing and assembly, supported by service functions like facilities management, maintenance, costing and quality management.
“We are the sixth largest manufacturer of watches globally with a manufacturing unit in Hosur and three assembly units in North India. Titan has been proudly Making in India since inception in all our businesses and commencement of production of world-class stainless steel cases is a part of this journey,” the company’s Managing Director Bhaskar Bhat said.
“With closer proximity to Titan’s Hosur watch manufacturing facility, the new stainless steel case manufacturing unit at Coimbatore possesses modern technology with special processes, world-class machinery and a workforce focusing on creating benchmark process standards,” Titan Company Ltd., CEO (Watches and Accessories), HG Raghunath, said.
The Coimbatore plant would cater to demand for premium watches which are differentiated on the product’s look and finish and use high quality stainless steel cases, he said.
Titan Company Ltd, formerly Titan Industries Ltd, is a joint venture between Tamil Nadu Industrial Development Corporation (TIDCO) and Tata Group and commenced operations in 1987 under the name Titan Watches Ltd.
The company, which has a presence in jewellery and eyewear apart from watches, registered revenue of Rs 10,815.08 crore, the statement said.
Titan reaffirms its commitment to redefining luxury, presenting a statement accessory that promises a timeless celebration of craftsmanship and style.
Each timepiece, a masterpiece in its own right, is intricately designed to cater to diverse preferences, ranging from sleek and minimalistic to bold and statement-making styles.
The video campaign provides a behind-the-scenes glimpse into the intricate process of crafting fine fragrances, shedding light on the transformation of ideas into exquisite scents.
EBIT of the company was Rs 997 crore with 13.2 percent EBIT margin. The watches and wearables business recorded a total income of Rs 871 crore, up 40 percent YoY backed by strong growth in analogue watches and a multi-fold increase in wearables.
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