Stellar collection a step towards premiumisation, says Mahendra Chauhan of Titan

Titan has launched its Stellar 2.0 collection, inspired by celestial themes and featuring unique materials, as part of its strategy to premiumise its portfolio. But what is keeping these analog watches relevant even in the era of smartwatches? According to Mahendra Chauhan - Head Of Design- Product & UX- Watches, Wearables and Accessories, freedom from constant notifications, the status symbol associated with analog watches and their timeless nature are factors why these timepieces are still relevant.

Regarding competition, Chauhan highlighted that Titan's main challenge is to attract consumers who currently don't buy analog watches. He described the design philosophy for the Stellar 2.0 collection as elegant and exploratory, drawing inspiration from the cosmos. Speaking exclusively to ZeeBiz.com, he expressed confidence that the collection would appeal to younger audiences and attract new customers to Titan.

Here are the edited excerpts from the interview:

Que: In the age of smartwatches, what keeps analog watches relevant?

Mahendra Chauhan: Several factors contribute to the ongoing popularity of analog watches. Firstly, they provide a break from the constant notifications and tech overload that smartwatches bring. Analog watches offer a respite from the digital buzz, allowing wearers to enjoy a more serene experience.

Secondly, analog watches are perceived as status symbols, a concept ingrained in our culture for generations, often associated with luxury brands like Swiss watches. Many people who wear smartwatches often switch to an analog watch for professional settings, emphasizing its role as a fashion statement and status symbol.

Lastly, analog watches are timeless pieces that can be passed down through generations, showcasing enduring elegance. In contrast, smartwatches often require frequent upgrades, losing their novelty after a short time. Thus, their timeless nature, status appeal, and technological freedom contribute to the continued relevance of analog watches.

Que: What innovations have emerged in the analog watch segment?

Mahendra Chauhan: Analog watches can be categorized mainly into mechanical and quartz types. Both categories have seen significant innovations over the years. Mechanical watches have evolved to include various features such as speed measurement and medical functions. Meanwhile, quartz watches have become more sophisticated, incorporating multiple functionalities without sacrificing aesthetics.

Recently, hybrid smartwatches have emerged, combining analog displays with smart technology, allowing for health tracking through traditional watch hands. This fusion represents the latest innovation in the analog segment, showcasing the adaptability of traditional designs to modern needs.

Que: Will Titan continue to focus on all segments, or is there a shift towards premiumisation?

Mahendra Chauhan: Titan sells approximately 18 million watches annually, covering every demographic in India, from tier two and three cities to affluent globetrotters. We have carefully curated our offerings to cater to various preferences and price points.

In recent years, there’s been a noticeable shift towards premium products across all demographics. Many consumers are seeking upgrades to more luxurious items, even in lower price ranges. Notably, about 60% of young urban Indians are investing in high-end products. This trend towards premiumisation influences all segments of our portfolio, including the Stellar collection, which features unique materials and design elements previously unseen in our products.

Que: What competition does Titan face in the analog watch segment, and what challenges lie ahead?

Mahendra Chauhan: Titan has maintained a strong market share of around 60-65% in India, positioning us as a dominant player. Our integrated business model—encompassing design, manufacturing, and retail—affords us significant market control.

The main challenge lies in converting potential customers who currently do not wear watches. Our focus is on reaching those who favor smartwatches from various brands or those who choose not to wear a watch at all. Attracting these segments back to Titan is a key objective for our group.

Que: Can you share insights into the design philosophy of the Stellar 2.0 collection?

Mahendra Chauhan: Titan's design philosophy centers on simplicity and elegance. Our watches are not merely time-telling devices; they tell a story. The Stellar 2.0 collection draws inspiration from the vastness of space, including swirling galaxies and celestial bodies.

We previously explored themes like black holes, and for this collection, we’ve incorporated elements from the Sun, Moon, and planetary movements. The textures and motions of these celestial elements have significantly influenced our designs, making each piece a narrative of cosmic exploration.

Que: What market share do you anticipate capturing with Stellar 2.0?

Mahendra Chauhan: The performance of Stellar 1 was exceptional, allowing us to penetrate a previously unexplored market. While I won’t provide specific numbers, we expect a substantial interest from younger audiences and those who haven’t previously engaged with Titan. We believe these innovative products will attract new customers and spark excitement in our offerings.