THE NEW TITAN

TITAN COMPANY’S NEW LEADERSHIP TEAM IS TRYING HARD TO MORPH THE ₹20,000-CRORE LEGACY LIFESTYLE COMPANY INTO A YOUNG, EDGY ORGANISATION

-  AJITA SHASHIDHAR

C.K. Venkataraman, 60, the new Managing Director of Titan Company — who cycles to office every day and is a regular marathoner — thinks that age is just a number. He loves to sing and has many a times unknowingly entertained his co-passengers on flights as he hummed (loud enough for others to hear) while listening to old Bollywood classics. Venkatraman’s friendly demeanor is probably something that is best suited for the ₹20,000-crore lifestyle major, which is trying hard to break out of its legacy image.

The company’s biggest challenge today is to resonate with the aspirational Indian millennial, who account for close to 65 per cent of the country’s population. Though Titan is the most loved and respected, it is not considered aspirational enough. A 25-year-old prospective bride may buy her wedding jewellery at a Tanishq store, but owning a Titan watch may not be part of her style statement. She would in all likelihood dismiss it as fuddy-duddy. The lifestyle major may be one of the favourites in the stock market by virtue of its impressive financial performance, but brand Titan definitely needs a makeover.

Venkataraman took over from mentor Bhaskar Bhat, who hung up his boots in September 2019 after being at the helm for over 30 years. Bhat was the classic nuts-and-bolts leader who had an eye for perfection and meticulously crafted strategies. In 2018, under his leadership, Titan was among the most-valued companies of the Tata Group. From jewellery to eyewear and later