We had seen a fabulous run. Wenut helped navigate and brought it from 500 odd crores to around 18-19,000 crores. The brand was a leader in Indian jewelry, and omni channel became a big engine for high-priced categories.
Hello and welcome to Fortune India's in conversation podcast. I have with me the outgoing MD of Titan, CK Venkataraman, and Ajoy Chawla, head of jewelry who will take over as MD in January 2026. Let's chat about Titan culture and Ajoy's game plan. Wenut, we could start with you.
Thank you. The most important thing about Titan culture is its emphasis on people from day one. There's a belief that everyone has a role, and if you give them freedom and an entrepreneurial environment, you can create vision and strategy together. I've enjoyed that the most in my 35 years.
So how has it shaped you as an individual and as a professional?
Titan is home. I've grown up here. To what Wenut said, I'd add that because of our belief in people and giving them freedom, a lot of entrepreneurial culture and innovation has been created. It's very informal and non-hierarchical. The MD can walk down the ramp with his blue frames. That attracted me to Titan.
But looking at Titan leadership, you've always groomed leaders internally. Is that a conscious decision?
It's well-considered. Culture is the lasting strength of an organization, and it helps if leaders are groomed within because culture takes years to build. It's a deliberate leadership development strategy to have a pipeline of leaders.
So how have you been groomed as a leader? Any anecdotes?
I joined Titan in finance and moved into different roles every few years—international, sales, ERP implementation, retail, accessories. The exposure groomed me. I was handling small businesses when I was called to take on jewelry, which was doing in a day what my business did in a year. That shows the confidence the organization had in me.
But before moving to business, one thing: Wenut, have you ever felt working 35 years in the same organization is a limitation?
Not really. We need domain experts who are strong. Many functional heads came from outside, but business leaders have been from within because they impact culture deeply. I spent 15 years in watches, 15 in jewelry, so I have deep understanding. Ajoy has been in every part. That depth is key.
Coming to you, Ajoy: you took over jewelry from Wenut and now Titan as a whole. What stage was jewelry then, and what stage is Titan now?
When I took over, we had a fabulous run—Wenut grew it from 500 to 18-19,000 crores. The brand was a leader. I inherited a treasure. I focused on staying the course with minor tweaks like regionalization and buyer growth. It was about innovation, customer experience, and brand narrative.
One big thing Ajoy and Arun did was the omni channel thrust, which was hardly there in my time. COVID helped, but they saw the opportunity and built a new growth engine.
Yes, COVID and our CaratLane acquisition triggered that. Today omni contributes around 10,000 crores. We also nurtured Mia and Zoya. The portfolio play flowered. Coming to Titan today, Wenut has shepherded it to a 60,000-crore business, well-positioned globally. Wenut, you should share your journey from Bascar.
The financial strength of the jewelry business helped me sponsor new businesses and international expansion. I'm a strong believer in long-term value creation. We launched Pragati, a comprehensive CSR and sustainability program covering planet, people, ethics, and profits—stakeholder-first approach.
