Little did he know when CK Venkataraman took over the management of the Titan Company in October 2019 that he would face one of the steepest challenges of his career in the next six months.
A 30-year-old veteran of the Tata Group, Venkat had served as the CEO of Titan’s jewelry business since 2005 before replacing long-time MD Bhaskar Bhat, who was retiring.
When India entered a strict curfew from March 2020, Venkat had to find ways to make consumers want Titan’s lifestyle products in the home. The company’s diversified offerings – from watches, jewelry, and ethnic clothing to sunglasses, bags, perfumes, and wearables – may not have been on the list of pandemic essentials.
Though Titan’s retail stores gradually reopened towards the end of 2020, the second wave in 2021 hurt the store even more.
But due to Titan’s legacy status and trusting relationships with customers, distributors, franchisees, supplier partners and the community, it could be “resilient”.
Although Titan’s stock nearly doubled over the past year, the business recovery has been a bit slow. But the MD is not “concerned”. Instead, he chooses a medium to long-term view.
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Kalpana Behara has over 20 years of experience in leading technology companies such as NIIT, Google, Facebook and Uber. She believes the constant challenge over the years has been to grow with the industry and survive the hypergrowth of every company she worked with.
In her current role as Head Digitization, GSS at Uber, Kalpana manages content curation, validation and review across all product lines. Continue reading.
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- Indian startups raised around $ 6.5 billion in funding in the April-June 2021 quarter, while 11 of them joined the coveted Unicorn Club, according to a report by Nasscom-PGA Labs. 160 financing agreements were signed in the second quarter – an increase of 2 percent compared to the period from January to March.
Before you go, stay inspired with …
“Titan has remained an important jewelry and watch company. However, we believe that the opportunity for the other companies is great. It currently occupies a good part of the management focus. ”
– CK Venkataraman, General Manager, Titan Company
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