your password has been reset successfully, Please login again.

Titan use Amazon retail services to enter US market

Titan taps in Amazon to expand its product offerings in US market.
BY BEx Bureau
BusinessEx
Aug 09, 2017

Indias largest watchmaker Titan planning to break into e-commerce giant Amazons global selling program to begin shipping its products to customers in the US, even as it reinvents its product range locally to enhance falling sales figures.

Following the paths of huge Indian brands as Amul, Fabindia, and Manyavar, which rode on the back of Amazon to sell their product in faraway markets, Titan plans to follow the footsteps. Amazon claims to have more than 23,000 Indian brands to have listed over 63 million products to sell on its global selling platform.

S Ravikant, chief executive officer, watches and accessories, Titan, quotes, E-commerce is the fastest growing channel for us and the US already has a mature e-commerce market.

The watchmaking company plans to kick off its business in the US by presenting 500 models under the Titan and FastTrack brand names. The company would price its products between $30 and $300 and will establish itself before holiday sales season.

Ravikant mentioned that Titan would consider selling leather accessories, eyewear and bags from its multiple brands in the US in the near future, but currently, the company was only targeting the watch market worth $12-billion in the country.

The US will be the first foreign market where the company will begin selling online before offline.

Gopal Pillai, director of seller services at Amazon India, said, We have 65 million products listed by Indian sellers on Amazons global marketplace. Brands like Amul are doing very well and some of these sellers are seeing over 100 per cent year-on-year growth in sales on Amazon.com.

Titan will use Amazons own fulfillment services to make the sale. The e-commerce firm will stock products at its warehouses near the customers, to be able to ship out Titan products to customers within two days and offer one-day delivery in metros. Titan sells its watches in more than 30 countries; only 10 per cent of its annual sales are outside India. The company hopes sales in the US will help in driving exports.

Please add your Comment
SIMILAR News
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta