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Ajoy Chawla, Managing Director of Titan Company, opened the investor day by celebrating the company's crossing of 75,000 crore turnover in the past year, attributing it to team and partner effort. He described Titan as a 'string of pearls' of design-driven lifestyle brands, noting that only 15-16% of customers buy jewelry, with the rest purchasing other categories. He highlighted the Encircle program's 15 million active customers, which contributes about 10% of jewelry business (6-7,000 crores) from customers who haven't yet bought Tanishq, Mia, or Zoya. Chawla emphasized Titan's manufacturing heritage, including ISCM's 350 million watches and 270 unique movements, and TAL's automation business serving global clients. He discussed retail expansion into 400 of 500 towns with 1-10 lakh population, Earth's growth from 17 doors to a target of 150 plus in 1.5-2 years, and digital capabilities including 3,000 analytics campaigns annually contributing over 3,500 crores. He outlined seven growth strategies, including rapid international expansion targeting a billion-dollar opportunity in 4-5 years excluding Damas.
Key takeaways
Titan crossed 75,000 crore turnover in the past year, a milestone celebrated at the investor day.
Only 15-16% of Titan customers buy jewelry; the rest purchase other categories like watches, eyewear, and accessories.
Encircle program has 15 million active customers, driving about 10% of jewelry business (6-7,000 crores) from customers new to Tanishq, Mia, or Zoya.
Earth brand aims to grow from 17 doors to 150 plus in 1.5 to 2 years.
International growth is a billion-dollar opportunity in 4-5 years, excluding Damas.
Our new managing director, Mr. Ajoy Chawla, who will set the context for you today and take you through Titan's vision and journey ahead. Ajoy, over to you. Thank you. Please join us on stage.
Thank you. Warm welcome to the investor day. I look forward to engaging with you throughout the day. My job here is to walk you through what goes on behind the scenes at Titan. You already know the numbers and brands, but there are things you may not know. First, a quick celebration of a milestone we crossed last year.
Some milestones are measured in numbers, but the greatest ones are built by people. Every idea shared, every extra mile, every hand that crafted, every partnership that believed, every customer who chose us. In just one remarkable year together, we crossed 75,000 crore turnover. This achievement belongs to every Titanian and every partner who shaped this journey with us.
Truly, it's a huge team effort from Titanians, partners, and stakeholders. Hearty congratulations. Titan is a powerhouse of design-driven, differentiated lifestyle brands. It is a string of pearls that started in 1987 and has grown into something beautiful. It serves the Indian customer and is beginning to go beyond India to the diaspora and Arab segment. You may think we are a jewelry company, but only 15-16% of our customers buy jewelry. The rest buy our other categories. When a customer wears a fragrance, Earth handbag, Taneira saree, or watch, she is equally excited. Our Encircle program has 15 million active customers and feeds back into all businesses. For example, about 10% of the jewelry business, about 6-7,000 crores, comes from customers who have not yet bought Tanishq, Mia, or Zoya. That's the flywheel. Our DNA was coded by our founder Xerxes Desai. There's a series on Amazon, 'Made in India: A Titan Story.' Our founders gave us innovation and intrapreneurship. Each brand came from within: Arun played a role in Fastrack, Shamla in Taneira, I was involved in eyewear. Tanishq started as an asset-sweating exercise and became a world-class engineering company serving global majors. We have always believed in leading the customer. For example, Tanishq launched daytime diamonds 20 years ago, democratizing diamonds. We follow the customer, not competition. To be a leader, follow the customer. She is changing fast. Our brands constantly think of what to do next. We also engage with customers. For instance, four customers appeared in a Tanishq ad. A customer told Venkat that they are the best brand ambassadors. We take that to heart. We create exciting events in stores. Some customers come only for coffee. We have customers who take our staff to movies. We celebrate with customers.
Picture 9,000 women draped in saris take to the streets of Bengaluru on a Sunday morning running, jogging, walking. I'm at the Taneira sari run where thousands of women prove anything is possible in style. Tell me what you're going to do. I'm going to run my own way. You're giving an opportunity for women to be themselves. You can feel the liberation. This is the seventh edition and the excitement is palpable.
I attended one of the sari runs and customers told me, 'Why are you not wearing a sari? You should wear one and run.' That's our interaction. But we are not just a customer-obsessed company; we are manufacturers at heart. Most see us as retailers, but we started as a manufacturer. We have invested in watches and jewelry manufacturing. Let the video show you more about how our manufacturing works.
For over four decades, Titan's ISCM has evolved into one of India's most advanced high-end watch manufacturing ecosystems, with capabilities spanning movements, cases, appearance parts, and premium assembly. Over 350 million watches crafted. At its core lies movement manufacturing with Swiss and Japanese technologies. Titan has mastered quartz, mechanical, and micromotor platforms with over 270 unique movements. Case manufacturing uses diverse materials from alloys to platinum. Advanced forming, machining, and surface finishing. Skilled watchmakers ensure world-class quality. ISCM is transforming into a future-ready ecosystem with digitalization and automation. Crafted in India, engineered for the world.
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Chawla, A. (2026, June 12). Managing Director - Ajoy Chawla [Interview transcript]. Titan Company Limited. CEOInterviews.AI. https://ceointerviews.ai/interview/1031506/
MLA
Ajoy Chawla. "Managing Director - Ajoy Chawla." Titan Company Limited, 12 Jun. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1031506/.
BibTeX
@misc{chawla2026_1031506,
author = {Ajoy Chawla},
title = {Managing Director - Ajoy Chawla},
howpublished = {Interview transcript, Titan Company Limited. CEOInterviews.AI},
year = {2026},
month = {jun},
url = {https://ceointerviews.ai/interview/1031506/},
note = {Speaker-attributed transcript with timestamps}
}
