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Titan Company Limited: growth strategy

K.S. Manikandan (Department of Strategy, Indian Institute of Management Tiruchirappalli, Tiruchirappalli, India)

Publication date: 7 October 2021


Subject area

Corporate Strategy; Strategy.

Study level/applicability

Post-graduate; Executive education; Under-graduate.

Case overview

The case is based on Titan Company Limited (Titan), one of India’s profitable diversified companies. Set in April 2020, the case presents the evolution of Titan’s growth strategy in the last three decades. The company had grown by continuously exploring adjacent categories in the personal lifestyle space. The case asks whether the strategy that has guided Titan for the past three decades would continue to provide growth. What changes, if any, should be made by C.K. Venkataraman—the new CEO who had taken charge a few months back in October 2019—and his team?

The case describes Titan’s evolution from 1987 to 2020. ‘Winning times’, the first section of the case, describes Titan’s early choices in the watches business that helped the company achieve market dominance and its successive choices to expand the scope of watches businesses by entering new adjacencies. The section also details the evolution of Titan’s design, manufacturing, marketing and retailing capabilities in early years. ‘Looking for another gem’ describes Titan’s venture into the jewellery business – the failure of its early attempts to export and its pivot to domestic market and the successful turnaround of the business. ‘On the fast track to growth’ deals with Titan’s accessories business. The section ‘Eyeing new businesses’ describes Titan’s foray into prescription eyewear and precision engineering businesses and the company’s performance in these businesses. ‘A new identity’ details Titan’s adoption of a distinct corporate identity in 2013. ‘New businesses’ provides information on Titan’s recent foray into fragrances and sarees business. The case ends with the section ‘Years ahead’ which asks what changes, if any, should be made by the leadership team.

Expected learning outcomes:

Upon completion of the case study discussion, participants will be able to: understand the concept of the ‘core competence’ and the three tests of core competence; how core competencies evolve in an organization over time; diversification (growth) strategy based on core competencies and adjacencies; and key managerial choices and organizational processes required to ensure effectiveness of diversification strategy based on core competencies.

Supplementary materials

Teaching notes are available for educators only.

Subject code

CSS 11: Strategy.



Disclaimer. This case is written solely for educational purposes and is not intended to represent successful or unsuccessful managerial decision-making. The author thanks the editor and two anonymous reviewers for their helpful comments in the development of this case study.

The author thanks the editor and two anonymous reviewers for their helpful comments in the development of this case study.


Manikandan, K.S. (2021), "Titan Company Limited: growth strategy", , Vol. 11 No. 3.



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