Titan watch business targets US$1bn sales in FY27 plan

Why Titan’s watch guidance matters

Titan’s watch business is aiming for a new scale milestone, with the company expecting consumer-price sales to cross the US$1 billion mark within the next two years. The outlook is being anchored on premiumisation, a bigger retail footprint and faster growth in the international business division. The guidance comes at a time when demand is improving for analogue watches, especially in higher price points, and when luxury consumption is expanding beyond metro markets.

Kuruvilla Markose, CEO of Titan’s watch division, told PTI the company is “very bullish” on the watch category in India. He linked the optimism to macro tailwinds such as a growing economy, rising personal income and a large, aspirational millennial base.

US$1 billion target: consumer price first, net sales later

Titan expects its watch business to cross US$1 billion “from a consumer price perspective” in FY27. Markose added that net sales may take another year to reach the same mark. The distinction is important for investors because consumer-price sales can reflect MRP-level momentum, while net sales reflect realised revenue after channel mix, discounts and taxes.

The company’s watch and wearables unit has been growing at a steady pace over the past few years. Titan said the segment has delivered a compounded annual growth rate of about 16 percent over the last four to five years, and management indicated the trajectory has continued through Q2 of the current year.

Premiumisation at the core: mid-premium and premium analogue

Titan’s growth strategy is focused on moving consumers up the value chain. The company is prioritising the mid-premium analogue segment priced at ₹10,000 to ₹25,000 and the premium segment priced at ₹25,000 to ₹1 lakh. Watches priced above ₹1 lakh are treated as luxury, which Titan further categorises as accessible, aspirational and absolute luxury.

Management expects premium and luxury categories to grow faster than the broader market, potentially “upwards of 30 percent.” Titan also pointed to a broader revival of analogue watches, which supports higher average selling prices and brand-led purchases.

Helios and Helios Luxe: store expansion plan

Retail expansion is a key operational lever behind the US$1 billion ambition. Titan currently operates about 282 Helios stores, and it has opened 5 Helios Luxe stores so far. The company plans to take the Helios Luxe network to 20 stores by the end of FY26 and add another 40 stores by FY27.

Titan said it operates in around 500 towns overall, and sees room to expand Helios further in locations where premium demand exists. Luxury watches are sold through Helios and Helios Luxe, linking store format strategy directly to the premiumisation push.

Sales mix shift: premium segment share more than doubled

Titan said the premium segment’s share of sales has increased sharply. Markose stated that from FY25 to FY26, the share of premium segment sales has more than doubled. He also said brands such as Titan, Edge and international brands are growing rapidly above ₹25,000, signalling stronger traction where Titan earns higher gross margins and can differentiate on design, materials and movements.

The company continues to position the mid-premium segment as a large upgrade opportunity. Titan described India as having a sizable base of consumers moving from unbranded and informal watches to branded products, supporting volume growth alongside premiumisation.

Financial and operating context from the Watch & Wearable segment

Titan’s Watch & Wearable segment reported revenue of ₹45.76 billion in FY2024-25, recording growth of over 17 percent, which the company called a “defining year.” Management said the division has been tracking its longer-term growth rate in recent quarters, with published performance till Q2 showing growth of about 16 to 17 percent over the last year.

The company also reiterated that the business sells across multiple channels, including Titan World, Fastrack, large format retail, electronics stores for smartwatches, marketplaces, and its own websites in India and internationally.

International business: multi-channel scale outside India

Titan’s watch business already has a meaningful international distribution base. The company said it is present in 25+ countries, with around 75 exclusive brand outlets and over 1,500+ multi-brand outlets. It also operates 10+ country-specific international websites and sells on 40+ global marketplaces.

This wider footprint is being positioned as a growth driver alongside domestic premiumisation. While Titan did not provide a country-wise split for watches, the breadth of channels suggests the strategy is built around both owned stores and wholesale-style distribution.

Product capability: movements and “horology” investments

At higher price points, Titan is emphasising movement quality and complications. Markose said the company has developed in-house automatic movements, including what it described as India’s first “wandering hour.” Titan also said it will keep investing using a mix of in-house development, indigenous partners and global vendor ecosystems.

Titan, a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO), said it plans continued investment in modernisation, capability building and horology.

Market impact: what investors can track

For investors, the near-term watchlist centres on execution against store rollout and mix improvement. The plan to scale Helios Luxe stores by FY27 is a measurable indicator of Titan’s confidence in luxury demand and its willingness to invest in premium retail formats.

The company’s growth commentary also highlights how Titan is balancing three objectives at once: defend mass and mid-premium volumes, increase premium and luxury contribution, and expand internationally through both offline and digital channels. Titan did not disclose the split between analogue and digital revenue in its watch business, limiting visibility into how much of segment growth is being driven by smartwatches versus analogue.

Conclusion

Titan expects its watch business to cross US$1 billion in consumer-price sales by FY27, with net sales potentially taking an additional year. The strategy is built on premiumisation in analogue watches, aggressive Helios Luxe expansion, and a broader international distribution footprint. The next milestones to monitor are the pace of Helios Luxe openings through FY26 and whether premium and luxury growth sustains the “upwards of 30 percent” trajectory indicated by management.