The watches division, which usually accounts for 12-15 per cent revenue for the Bengaluru-headquartered company was the worst hit as demand for the accessory has drastically fallen after the Covid outbreak.
At a time when most people are working from home and watches are no longer seen as an adornment, Titan is betting big on the gifting strategy to revive sales. The company has rolled out a ‘Gift a Titan Smile’ programme, exhorting people to gift to their loved ones, reaching out to them through its omnichannel route.
“For watches, the one big trigger for consumer demand that we are looking on and betting on a lot is gifting, especially in this situation where everyone is anchored down at home and a lot of milestones have been missed, including birthdays, anniversaries, and graduations,” said Suparna Mitra, chief executive officer, Watches and Wearables Division at Titan, during an investor call.
First Published: Aug 13 2020 | 6:12 PM IST