Make America ‘Watch’ Again: Titan To Partner With FTS To Supply Parts And Know-How For US-Branded Time Pieces
Titan Company Limited has entered into a strategic alliance with FTS USA, an American watch manufacturing company, to set up an assembly unit in the U.S. to produce ‘Made in USA’ watches for American watch brands, reports The Hindu.
“This alliance with FTS signifies Titan’s three-decade long expertise and passion for watch making. With the advent of smart watches in the world market, traditional watch manufacturers are facing the heat to re-look at their portfolio,” said S. Ravi Kant, CEO, watches and accessories, Titan.
Titan would also extend its support to FTS, located at Phoenix, Arizona, by supplying movement kits and setting up of the movement assembly facility, training of U.S. engineers at the Titan facility alongside Titan’s engineers visiting the facility.
It should be noted that this plant would be one of the first ones to make watches in the US as most watches sold to the U.S consumers are made outside the U.S. Traditionally, manufacturing units have been located in countries like Switzerland, China, Japan, Philippines and India.
Second Largest Jewel In Tata Crown
Recently, Titan Company’s market capitalisation crossed the Rs 91,000-crore mark, making it the second biggest unit within the Tata Group, after Tata Consultancy Services (TCS). Titan is also on-course to the meet the company's stated 5-year vision of growing 2.5 times by 2023.