Wednesday, August 6, 2008

Titan enters serious horology


Nebula ZeusNebula Zeus

Joining hands with the competition is the current flavour in global business. But, many would have thought a Indo-Swiss collaboration for watches unimaginable, especially when it involves Swatch - the world’s biggest watch-maker. Has Titan achieved the impossible… just in time?

Titan Industries’ Managing Director, Bhaskar Bhat is about to write magnificent history; adding to the even otherwise illustrious Titan saga. He just launched Titan’s first mechanical automatic watch branded ‘Nebula Zeus’. Encased in a solid 18 ct gold, handcrafted case, this new watch has been priced at Rs 1.1 lakh.

Zeus brings in many first’s to Titan:

- First watch to cross the Rs one lakh barrier
- First mechanical automatic watch launched
- India’s first ‘Limited Edition’ watch, limited to 500 pieces
- First watch in asymmetric design
- First watch with 42 hours power reserve

Bhat’s coup is that Zeus is the first watch built around a Indo-Swiss partnership. Zeus has been designed by Mike Foley, who has many award winning watches in his portfolio.

Dancing with the enemy

In the bad old days of intense competition, during the 90’s, Xerxes Desai and Nicolas Hayek, founder of the Swatch Group, won’t be seen at the Basel Watch Fair together. In the new era, its time for ‘coopitition’ i.e., co-operating with competition. Hayek and Bhat have worked together with a new spirit of crafting India’s first gold mechanical watch. Swatch Group’s Company, ETA, has supplied its 2836 – 2 caliber automatic movement as original equipment for Nebula Zeus.

The watch is crafted out of a solid piece of gold brick with a screw-in transparent back cover. The ETA movement appropriately gold-plated, offers a magnificent view from the back of the watch. Leather fixed strap with an 18 ct buckle, adds to the embellishment of the watch. Clearly, Titan has now arrived in the world of serious horology. Will they launch a line of mechanical and automatic watches? (Read Bhaskar Bhat’s interview).

So near, yet so far

What does it take to sell a watch priced at more than $1,000? We have a great lot to learn from the Swiss in this area. A couple of early lessons for us to learn. First, how many people know that Omega, Longines, Rado, Tissot and Swatch come from the same company, namely Swatch? Swatch Group’s response, “A brand stands for certain specific values and consumer proposition.”

It is therefore very inhibitive to broadband Omega and Longines or let’s say, a Breguet under the same umbrella brand. Titan, in this instance, continues to be the ‘Oppressive parent’ or charitably spoken the ‘Doting parent’ to Nebula. Just in case the customer forgets the parent’s name; Titan’s name has been boldly printed at the back of the watch!

When will Titan feel confident enough to let Nebula stand-up as an independent brand? There are other things to learn, namely; embellishment. Why should a Rupee One lakh watch come with the same packaging box as a Five Thousand Rupee watch? Why can’t the company give an individualized certificate from the CEO to every proud owner of the Zeus?

Notwithstanding the fact that we have many lessons to learn from the Swiss and German luxury brand owners, let’s celebrate this landmark event of India’s arrival in serious horology. And, this is entirely thanks to Bhaskar Bhat vision for Titan and its Nebula range.

Interview with Bhaskar Bhat

HBL- How did Zeus arrive?
BB- We have been researching on introducing a mechanical watch for a long
time and Zeus, in many ways, is being test-marketed at the top-end of the
market.
HBL- How did you manage Swatch Group to supply you mechanical
movements?
BB- I have kept a very good relationship with Swatch Group and as indeed
with Mr Nicolas Hayek. Remember, today is the day of ‘coopitition’.
HBL- What are the challenges for marketing a serious luxury product
like Zeus?
BB- The challenge is how to change the mindset. The Swiss have been
occupying the mind space of luxury consumers for over a hundred years. We
have made a beginning and we wish to move sure-footedly.
HBL- Are we going to see more in mechanical watches?
BB- Yes. But I cannot reveal more of our plans.
HBL- You deserve serious compliment from Indian watch loving
fraternity for your bold step.
BB- Thank you.

*(This was published originally in Smartbuy, a supplement of BusinessLine on June 25, 2008)



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