Angshuman Paul gives an account of the ‘watch maker’ turned ‘accessory giant’, for whom time was once running out real fast...
“We would be soon launching jewellery, helmets and footwear… We want to evolve as a ‘complete’ accessory brand that envelops the youth and we are trying to rise above the ‘serious’ brand image of Titan,” announces Ronnie Talati, VP & Business Head, Fastrack & New Brands, while discussing the current and future plans for building the Fastrack brand in the country.
Surprising though that today Fastrack wants to grow as an independent superbrand, while when we all believed that Fastrack lay snugly in the lap of the Titan brand! And this independent vision is not just when it comes to the future of the brand, for even physically the fact is more than just evident. Walk into the Titan Head Office, on the sixth-floor of the Golden Enclave Tower in Bangalore and notice the manner in which the floor is divided into two separate departments - on the right, sits the Titan team, while on the left it’s the young and enthusiastic Fastrack team. So there’s the question – why a separate brand now? Truth is, it has always been isolated, unlike what many perceived it to be. Fastrack was always positioned in a manner so as to benefit from the huge brand equity of Titan, yet remain a flagship purple cow on a standalone basis. It was born after Titan ended its joint-venture with US based Timex, a decade back. Therefore to fill up the lacunae of a cool, trendy and sporty product, the Tatas created Fastrack.
From its early days, the positioning of Fastrack was made clear – it was meant for the ‘early jobbers’ & young college goers. Therefore, the price was kept comparatively lower than Titan products. “We wanted a different brand and it had to be very trendy and sporty; that’s what Fastrack was meant to be,” avers a time-conscious Talati of Fastrack. Easy on the pocket pricing, with a slogan like ‘Cool Watches from Titan’ and brand ambassadors like Narain Karthikeyan, Fastrack started beckoning young consumers, who were otherwise being drawn by its competitor, Timex.
Ten years since it hit market shelves, Titan has actually emerged as a brand which doesn’t need the brand name of the Tatas anymore. Cashing in on the brand legacy of Titan and tying-up with MTV helped Fastrack gain a speedy start from year one, grossing Rs.15 crore during FY1998. And that was just the start of a high-growth story. “By FY2001, the brand had grown by more than 20% y-o-y, and had collected Rs.25 crore in revenue by then,” announces Talati.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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“We would be soon launching jewellery, helmets and footwear… We want to evolve as a ‘complete’ accessory brand that envelops the youth and we are trying to rise above the ‘serious’ brand image of Titan,” announces Ronnie Talati, VP & Business Head, Fastrack & New Brands, while discussing the current and future plans for building the Fastrack brand in the country.
Surprising though that today Fastrack wants to grow as an independent superbrand, while when we all believed that Fastrack lay snugly in the lap of the Titan brand! And this independent vision is not just when it comes to the future of the brand, for even physically the fact is more than just evident. Walk into the Titan Head Office, on the sixth-floor of the Golden Enclave Tower in Bangalore and notice the manner in which the floor is divided into two separate departments - on the right, sits the Titan team, while on the left it’s the young and enthusiastic Fastrack team. So there’s the question – why a separate brand now? Truth is, it has always been isolated, unlike what many perceived it to be. Fastrack was always positioned in a manner so as to benefit from the huge brand equity of Titan, yet remain a flagship purple cow on a standalone basis. It was born after Titan ended its joint-venture with US based Timex, a decade back. Therefore to fill up the lacunae of a cool, trendy and sporty product, the Tatas created Fastrack.
From its early days, the positioning of Fastrack was made clear – it was meant for the ‘early jobbers’ & young college goers. Therefore, the price was kept comparatively lower than Titan products. “We wanted a different brand and it had to be very trendy and sporty; that’s what Fastrack was meant to be,” avers a time-conscious Talati of Fastrack. Easy on the pocket pricing, with a slogan like ‘Cool Watches from Titan’ and brand ambassadors like Narain Karthikeyan, Fastrack started beckoning young consumers, who were otherwise being drawn by its competitor, Timex.
Ten years since it hit market shelves, Titan has actually emerged as a brand which doesn’t need the brand name of the Tatas anymore. Cashing in on the brand legacy of Titan and tying-up with MTV helped Fastrack gain a speedy start from year one, grossing Rs.15 crore during FY1998. And that was just the start of a high-growth story. “By FY2001, the brand had grown by more than 20% y-o-y, and had collected Rs.25 crore in revenue by then,” announces Talati.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
“We will change your outlook” - The Sunday Indian on B-SCHOOL RANKING SCAMSTERS EXPOSED! A must read...For Exclusive Footage by Sunday Indian Click Here
Outlook Magazine's B School Ranking Scam Exposed
Don't trust the Indian Media!
IIPM ISBE Programmes
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
1 lakh copies sold in less than 10 days of Arindam Chaudhuri’s “Discover The Diamond In you”
IIPM - Admission Procedure
IIPM, GURGAON
IIPM 2-year full time Programme (leading to the award of the MBA degree from IMI)
B-schools expect higher rate of campus placements this year
IIPM B School : King Khan, Bollywood Badshah and Quiz Wiz — that’s Shah Rukh Khan for you
IIPM 3-year full-time Integrated (MBA BBA) Programme
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