Even as other leading watchmakers have avoided the mass-market segment, Tata Group firm Titan Industries is looking at investing more in this segment. Seeing value in the mass-market segment, which is largely unorganised, Titan Industries has lowered the entry-level pricing for its Sonata watches. Now its cheapest watch is available at Rs 225, around Rs 150 less than the earlier range.
“The margins for small for products priced so low but we continue to see growth in the segment,” said Bhaskar Bhat, MD, Titan Industries.
“Its difficult to make watches at this low-price, low watch penetration of about 27% shows potential to bring in large volumes,” said Bhat.
Sonata is currently one of the fastest growing brands among the Titan brand of watches, contributing 25% in value terms and growing at 25% year-on-year. The company enjoys 70% share of the organised domestic market.