Titan Co. Ltd has partnered with Amazon.com Inc. to enter the US watch market, a departure from its typical strategy of entering new markets through the traditional brick-and-mortar retail route.
The two companies will look at gradually expanding the scope of their collaboration to other markets like European Union & Japan.
Under the partnership, Amazon will sell Titan watches through its ‘Global selling Programme’ that allows local merchants from India to sell in other countries.
Titan will also launch its range of Fastrack accessories & look at adding other products from its portfolio.
E-commerce which is the fastest growing retail channel for Titan, its watches & accessories can expect a contribution of 15-20% from US watch industry which is about $11-12 billion.
Titan has chosen 500 models from its eponymous watch brand & its Fastrack youth segment brand for Amazon in the US, priced at $30-$300.
Titan which sells its watches in more than 30 countries, with a significant presence in the Middle East has an overall contribution under 10% from exports to sales.
E-commerce is growing very rapidly as a retail channel even in some countries where Titan has had a presence for decades.
