Q4 results: Here’s what the Managing Director of Titan, CK Venkataraman has to say about the company's performance
Titan Company Ltd is among India’s most respected lifestyle companies led by its trusted brands and differentiated customer experience. Its MD spoke on the following aspects in the interview with Bloomberg:
CK Venkataraman started with the performance of the company. He said that he is pleased with the company’s FY22 performance as a whole. He believed that companies should be focused more on how they perform in the entire year otherwise it loses their sight and vision of strategy and their focus is shifted unnecessarily. He said that this year Titan has emerged not only as a very strong competitor but also very poised towards capitalizing on the normalcy that is rushing in many directions.
Q4FY22 was impacted because of the covid waves, fluctuations in the price of gold and overall anxiety of the public towards consumption, especially in the jewellery category. But when compared with other, Tanishq is limitless and will continue be a value addition in FY23.
Regarding the near-term projections, CK Venkataraman said that as the geopolitical crisis is not having much impact on the prices of gold as of now, it will create demand. Compared to March, they are in a better position and will continue the same trajectory unless something unpredictable happens. Based on Q1, they are very confident about Titan’s growth.
He foresees that Tanishq will be a growing brand for the next 10-15 years as its a 40–50-billion-dollar industry and they are 3.5 billion and have a high single-digit in terms of market share. There are multiple dimensions like auspicious status, store of value, and culture which keep this category going. He said that other categories might witness changes with time but sentiments regarding gold will remain the same.
Lastly, CK Venkataraman spoke about digital transformation. He said that 3-4 years ago they had put up a customer relationship management platform, bringing science and art together, which helps salespeople connect with the customers on a personal level.
Overall, the company is working in the direction of enhancing its existing categories and continuing their relationship with customers and addressing their needs.
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